AIG Advisor picks leader for B-Ds

Mark J. Schlafly will lead two broker-dealers, FSC Securities Corp. and Advantage Capital Corp., both of Atlanta.
JUN 20, 2008
AIG Advisor Group Inc. has picked up a highly touted executive from rival LPL Financial to lead two broker-dealers, Advantage Capital Corp. and FSC Securities Corp., both of Atlanta. Mark J. Schlafly will be president and chief executive of both firms and report to R. Lawrence Roth, president and chief executive of AIG Advisor Group. Mr. Schlafly replaces 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. Schlafly takes over at the end of the month. In 2006, LPL Financial of Boston hired him from A.G. Edwards & Sons Inc., which is now part of Wachovia Securities LLC of St. Louis. At the time, LPL hired Mr. Schlafly and other executives from rivals to expand its roster of top management. He was senior vice president of brokerage products and solutions and also managed LPL’s financial planning group. AIG Advisor Group has more than 7,500 registered representatives affiliated with its various broker-dealers.

Latest News

SEC fines Zoe Financial $450K over undisclosed referral conflict
SEC fines Zoe Financial $450K over undisclosed referral conflict

Salespeople at the firm often went beyond the matching algorithm to recommend network advisors on its Zoe Wealth platform, according to the regulator.

Senate vote on NIL bill could reshape college athletes' paydays
Senate vote on NIL bill could reshape college athletes' paydays

The Protect College Sports Act would cap school payments and codify NIL rights, with implications for advisors guiding young athletes.

'I'm done': Pandemic memories push business owners toward the exit
'I'm done': Pandemic memories push business owners toward the exit

"I know the number that I want to be able to retire on, and now I just want out," says Wilmington Trust's Marguerite Weese, describing a common refrain among business-owner clients.

Northern Trust bulks up family office team with New York hires
Northern Trust bulks up family office team with New York hires

Bessemer and Brown Brothers Harriman veteran Robert Ludricks III and private markets specialist Olof Akesson join the ultra-high-net-worth push on the East Coast.

SEC accuses trucking operator of running $127 million Ponzi scheme
SEC accuses trucking operator of running $127 million Ponzi scheme

765 investors were promised 260% annual returns on truck leases

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor

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