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
By  Bloomberg
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

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.