The AIG Advisor Group has formed a new independent
broker-dealer, AIG Financial Advisors Inc. that will be comprised of
representatives from three of its existing firms.
The registered representatives at the newly formed broker-dealer will come from SunAmerica Securities Inc., Sentra Securities Corporation and Spelman & Co. Inc., according to AIG Advisor Group.
The creation of the new firm, which is pending approval by the National Association of Securities Dealers (NASD), is expected in the second quarter.
It will be the nation's sixth largest independent broker-dealer based on revenue and total commission revenue, according to AIG.
"AIG Financial Advisors represents an opportunity to build a brand within the independent broker-dealer industry that is clearly differentiated from our competition," says James R. Cannon, president and CEO of AIG Financial Advisors.
Advisors affiliated with the new broker-dealer can adopt the AIG Financial Advisors name, use the name of their own entity, or use both, says Cannon.
"We also recognize that the client's relationship is with their financial advisor-not the broker-dealer," he says. "From surveys conducted with our financial advisors, it was evident that the flexibility to select either option is important to them when interacting with their clients."
The launch of AIG Financial Advisors will be supported by the launch of recruiting and advertising campaigns.