Woodbury Financial Services promotes Rick Fergesen to president and CEO

Broker-dealer had sought a new chief since Pat McEvoy resigned in December

Mar 4, 2014 @ 11:55 am

By Bruce Kelly

Rick Fergesen, a veteran of Woodbury Financial Services Inc., has been named president and chief executive of the broker-dealer.

The firm had been looking for a new chief executive since December, when Pat McEvoy resigned. Woodbury is one of the four independent contractor broker-dealers that make up Advisor Group, which American International Group Inc. owns.

More: New Advisor Group CEO Erica McGinnis' big plans take shape

Mr. Fergesen joined Woodbury in 1998 and most recently was its executive vice president of business and field development, a recruiting position.

AIG completed its purchase of Woodbury from The Hartford Financial Services Group Inc. in 2012.

Mr. Fergesen worked on that transition, implementing an integration plan that he created that resulted in both high retention and new recruits of advisers, according to a statement from Woodbury.

“We have made tremendous enhancements to our firm in recent years, offering Advisor Group's industry leading technology platform, enhanced support tools and services,” Mr. Fergesen said in the statement.

Woodbury has about 1,200 registered representatives and financial advisers. Advisor Group is one of the largest networks of independent broker-dealers in the industry and has about 5,400 representatives and advisers.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

Events

What's the first thing advisers should do when they get home from a conference?

After attending a financial services conference, advisers can be overwhelmed by options, choices and tools. What's the first thing they should do when they get back to their office?

Latest news & opinion

Is Fidelity competing with retirement plan advisers?

As the Boston-based mutual fund giant expands the products and services it brings to the retirement market, some financial advisers say the firm is encroaching on their turf.

Gun violence hits investment strategies, sparks political debates with advisers

Screening out weapons companies has limited downside.

Whistleblower said to collect $30 million in JPMorgan case

The bank did not properly disclose that it was steering asset-management customers into investments that would be profitable for JPMorgan Chase.

Social Security underpaid 82% of dually entitled widows and widowers

Agency failed to tell survivors that they could switch to a higher retirement benefit later.

If Finra eases firm oversight of outside business activities, broker-dealers could lose revenue

Brokerage firms would no longer be able to charge reps for supervising nonaffiliated RIAs.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print