Woodbury Financial Services promotes Rick Fergesen to president and CEO

Broker-dealer had sought a new chief since Pat McEvoy resigned in December.
APR 28, 2014
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.

Latest News

Am I stuck? Rethinking career mobility at every stage
Am I stuck? Rethinking career mobility at every stage

Why advisors at every stage may have more leverage, flexibility, and strategic options than they realize.

Advisor moves: $1B Stifel team joins Raymond James, Southern Ridge picks Osaic
Advisor moves: $1B Stifel team joins Raymond James, Southern Ridge picks Osaic

A California team with four decades of combined experience and a Kentucky father-son practice headline this week's advisor movement.

AI in wealth management: budgets surge but ROI remains elusive
AI in wealth management: budgets surge but ROI remains elusive

From generative AI on trading desks to personalized portfolio tools, financial firms are spending big on AI, but measuring returns is proving harder.

Arax acquires $3B RIA Transcend Capital in seventh deal of 2026
Arax acquires $3B RIA Transcend Capital in seventh deal of 2026

The fast-growing RIA aggregator adds Transcend Capital Advisors, a multi-state firm with more than 1,000 client relationships.

As layoffs commence, Commonwealth’s digital guru jumps ship
As layoffs commence, Commonwealth’s digital guru jumps ship

Christopher Blotto moved this month to Janney Montgomery Scott.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income