A Newport Beach investment holding company plans to acquire two securities broker dealer firms in the San Fernando Valley.

DPW Financial Group Inc., a subsidiary of DPW Holdings Inc., will pay $15 million in stock for Glendale Securities Inc. in Sherman Oaks and its corresponding clearing broker dealer.

DPW Financial Group’s Chief Executive Darren Magot said the firm was pleased to enter into an agreement for the transaction.

“This demonstrates that we are executing our plan of expansion of our financial services offerings through an acquisition, as we have announced from time to time,” Magot said in a statement.

However, the firm cautioned the deal may not receive necessary approval from the Financial Industry Regulatory Authority, or FINRA.

“The company is aware that FINRA has indicated that it has reservations about certain aspects of the proposed transaction,” DPW said in a release. “While the company has been advised by Glendale that the two broker-dealers intend to address any concerns FINRA may have to its satisfaction, there can be no assurance that the proposed acquisitions will ever be approved by FINRA.”