Auld new head of two AIG units

AIG Advisor Group continues to play a game of musical chairs with the heads of its various broker-dealers, this time replacing James Cannon with Jeffrey Auld, who becomes president and chief executive of both AIG Financial Advisors Inc. of Phoenix and American General Securities Inc. of Houston.
JUN 30, 2008
By  Bloomberg
AIG Advisor Group continues to play a game of musical chairs with the heads of its various broker-dealers, this time replacing James Cannon with Jeffrey Auld, who becomes president and chief executive of both AIG Financial Advisors Inc. of Phoenix and American General Securities Inc. of Houston. This is the third major change in leadership since 2006 in the AIG network, which has 7,500 affiliated reps. Mr. Cannon left to pursue other interests, according to a statement from the firm. Mr. Auld officially joins the firm at the end of the month. In January of 2006, Mark Goldberg left as chief executive of Royal Alliance Associates Inc. of New York. He was replaced by industry veteran R. Lawrence Roth, who has since risen to president and chief executive of the entire network. Just last week, Boston-based LPL Financial's Mark J. Schlafly was named president and chief executive of FSC Securities Corp. and Advantage Capital Corp., both of Atlanta. He replaced Joseph B. "Joby" Gruber, who resigned from Advantage Capital and FSC in April because he allowed an underling to take continuing-education exams in his name.
Mr. Auld, who is known for his recruiting skills, left Berthel Fisher and Company Financial Services Inc. of Marion, Iowa, in May for personal reasons. In 2006, he resigned from Next Financial Group Inc. of Houston, also for personal reasons. E-mail Bruce Kelly at [email protected].

Latest News

Finra's Reg BI Enforcement: Is it 'ineffective, costly'?
Finra's Reg BI Enforcement: Is it 'ineffective, costly'?

The industry watchdog's own reports reflect failures to deter "willful" and "repeat" violations, raising a crucial question about the future of regulation.

SEC prepares to back away from defending climate rule in court
SEC prepares to back away from defending climate rule in court

Acting Chairman Mark Uyeda directed SEC staff to initiate a pause in court while the commission awaits a quorum. The SEC may decide to withdraw from defending itself in a lawsuit over last year's climate disclosure rule.

wealth.com welcomes Kathy Wunderli in private wealth push
wealth.com welcomes Kathy Wunderli in private wealth push

The top estate planning platform's veteran hire will lead its legal team's efforts to develop estate planning, tax analysis, and wealth transfer solutions for ultra-high-net-worth clients.

Morgan Stanley loses $843,000 investor claim stemming from 'gold bar' scam
Morgan Stanley loses $843,000 investor claim stemming from 'gold bar' scam

“If Morgan Stanley had called my client’s son, this wouldn’t have happened,” the investor's attorney said.

LPL welcomes $630M sibling advisor duo from Corebridge
LPL welcomes $630M sibling advisor duo from Corebridge

Meanwhile, Ameriprise has bolstered its own ranks as an LPL defector joins its branch channel in California.

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.

SPONSORED Why wealth advisors should care about the future of federal tax policy

Blue Vault features expert strategies to harness for maximum client advantage.