UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Frost, Phillip
4400 Biscayne Boulevard
Miami, FL 33137-3227
USA
2. Issuer Name and Ticker or Trading Symbol
Ladenburg Thalmann Financial Services Inc.
LTS
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
December 31, 2002
5. If Amendment, Date of Original (Month/Year)
January 3, 2003
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Filing (Check Applicable Line)
( ) Form filed by One Reporting Person
(X) Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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Common Stock, par value $.0|12/31/|P | |34,400 |A |$0.11 |1,487,866 |I |Frost Gamma Inv. Trust (1) |
001 per share |02 | | | | | | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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Explanation of Responses:
(1) On 11/29/02 Frost Gamma, L.P. transferred all its shares to Frost Gamma
Investments Trust, of which the reporting person is the trustee and Frost
Gamma, L.P. is the sole and exclusive beneficiary. The reporting person is the
sole limited partner of Frost Gamma, L.P. The general partner of Frost
Gamma, L.P. is Frost Gamma, Inc. and the sole shareholder of Frost Gamma, Inc.
is Frost-Nevada Corporation. The reporting person is also the sole
shareholder of Frost-Nevada
Corporation.
JOINT
FILER
___________________
FROST GAMMA INVESTMENTS
TRUST
/s/ Phillip
Frost
___________________
By Phillip Frost, M.D.,
Trustee
DATE
January 3, 2003