AIG on Tuesday confirmed that it has had “several” inquiries from possible buyers of its independent broker-dealer firms.
Those inquiries come as “AIG is conducting a strategic review of all its priorities as part of its stated goal of focusing on its core services and reducing the complexity of its business,” the company said in a statement.
The group of B-Ds, known as the AIG Advisor Group, consists of FSC Securities, Woodbury Financial, Royal Alliance and SagePoint Financial.
“All interested parties have a favorable view of our growth prospects, are committed to the independent broker-dealer industry, and are not among our competitors,” said Erica McGinnis and Peter Harbeck, chief executive and chairman, respectively, of the Advisor Group, in an email to advisors.
“Any possible actions taken will be considerate of respecting your independence, maintaining the culture and uniqueness of our firms, and positioning the organization for continued success,” the executives said.
AIG’s statement came in response to an earlier report about the Advisor Group development in InvestmentNews.