Erica McGinnis is leaving the Advisor Group after stepping down from the position of CEO in August.
McGinnis has served as executive vice president and head of transitions since exiting the CEO spot. She will be replaced by Jamie Price, who will be CEO and a member of the Board of Directors. McGinnis previously was with Charles Schwab and Wells Fargo Investments LLC.
Advisor Group, which was sold in May by AIG to Lightyear Capital and Canadian pension investment manager PSP Investments, is one of the nation’s largest networks of independent financial advisors. Headquartered in Phoenix, Ariz., it has $160 billion in client assets and is made up of four firms, FSC Securities Corp., Royal Alliance Associates Inc., SagePoint Financial Inc. and Woodbury Financial Services Inc.
"Advisor Group is very grateful for the 13 years of dedicated service and leadership that Erica McGinnis provided to us," said Kevin Dinino, Advisor Group spokesman, in a statement. "We will miss her as a colleague and sincerely wish her all the best in the next phase of her career."
Price was previously head of Wealth Management Advisor Group Americas at UBS, where he was responsible for North American client-facing businesses, including 7,300 employees and 7,000 financial advisors located in more than 400 offices across the continent.