Patience Wears Thin for AIG Reps, Advisers
by Bruce Kelly and featured in Investment News April, 2009: After months of waiting for talks on the sale of the three broker-dealers that make up the AIG Advisor Group to be resolved, many of the more than 6,000 representatives and financial advisers in the network are growing anxious about their future. Meanwhile, last Wednesday, the chief executive and president of AIG broker-dealer Royal Alliance Associates Inc. of New York, Arthur Tambaro, sent a letter to that firm's reps and advisers that acknowledged that AIG was in the final stages of negotiations with a potential buyer, said one adviser affiliated with Royal Alliance. "The letter acknowledged that this was an extensive process and that there was significant interest from potential buyers," said Jeffrey Vahanian, president of Vahanian & Associates Financial Planning Inc. of Saratoga...