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

Mercer Advisors lands third-biggest deal to date with Full Sail Capital
Mercer Advisors lands third-biggest deal to date with Full Sail Capital

With over 600 clients, the $71 billion RIA acquirer's latest partner marks its second transaction in Oklahoma.

Fintech bytes: FP Alpha rolls out estate insights feature
Fintech bytes: FP Alpha rolls out estate insights feature

Also, wealth.com enters Commonwealth's tech stack, while Tifin@work deepens an expanded partnership.

Morgan Stanley, Atria job cut details emerge
Morgan Stanley, Atria job cut details emerge

Back office workers and support staff are particularly vulnerable when big broker-dealers lay off staff.

Envestnet taps Atria alum Sean Meighan to sharpen RIA focus
Envestnet taps Atria alum Sean Meighan to sharpen RIA focus

The fintech giant is doubling down on its strategy to reach independent advisors through a newly created leadership role.

LPL, Evercore welcome West Coast breakaways
LPL, Evercore welcome West Coast breakaways

The two firms are strengthening their presence in California with advisor teams from RBC and Silicon Valley Bank.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave

SPONSORED The evolution of private credit

From direct lending to asset-based finance to commercial real estate debt.