Advisor Group, one of the nation’s largest networks of independent wealth management firms, is making management changes and additions the organization said will position it for future growth.
The changes, which were announced Tuesday, follow last month’s merger between Advisor Group and Ladenburg Thalmann Financial Services, a diversified financial services company. The merger created a multi-custodial, multi-clearing and multi-brand business.
The new appointments involve executives from both companies, as well as the addition of Gregory Cornick, who was named to the newly created role of president of advice and wealth management. He formerly was executive vice president, treasurer and head of corporate development and advisor financial solutions at LPL Financial.
Other new appointments include Gregg Johnson, who was Securities America’s executive vice president of branch office development and acquisitions, to the newly-created position of executive vice president of recruiting and revenue acquisition for Advisor Group.
Cindy Hamel, who previously was executive vice president of strategic initiatives at Advisor Group, has been promoted to chief strategy and corporate development officer at the firm.
Matthew Schlueter has been named president, products and platforms, with oversight of Ladenburg subsidiaries Ladenburg Thalmann Asset Management, Premier Trust and the Highland Capital Brokerage insurance business.
In another reorganization, Ladenburg Thalmann & Co., the organization’s middle-market investment bank, will report to Advisor Group president and CEO Jamie Price.
“The deepening of our senior team is part of a carefully designed growth plan that we are implementing from a position of strength and confidence in the future of our business," Price said in a statement. "We will continue to invest in human capital throughout our organization."
In his newly created role, Cornick will report to Price and oversee execution of Advisor Group’s financial professional-facing strategy, tactics and initiatives, with a focus on continuing to improve the organization’s competitive position within the industry.
The leadership teams for each of Advisor Group’s wealth management firms including FSC Securities, Royal Alliance Associates, SagePoint Financial and Woodbury Financial, as well as the recently acquired former Ladenburg firms, Investacorp, KMS Financial Services, Securities America, Securities Services Network and Triad Advisors, will report to Cornick. In addition, Cornick will have oversight of Advisor Group’s marketing, national sales and central supervision functions that support each of the network’s wealth management firms.