Midsize Advisor Group IBD SagePoint taps head recruiter as next CEO
February 18, 2021
By Tobias Salinger, Financial Planning
A midsize Advisor Group firm tapped its head recruiting executive to be CEO, as the private-equity-backed firm seeks a leg up in the highly competitive advisor talent race.
SagePoint Financial picked Desireé Sii to replace retiring CEO Jeff Auld after his 13-year tenure, the independent broker-dealer said Feb. 8. Only five other firms out of 50 in Financial Planning’s annual IBD Elite rankings list women as their chief executive. Phoenix-based SagePoint is the fourth-largest firm in Advisor Group’s network and No. 20 in the sector.
SagePoint has achieved the best retention over the past year among Advisor Group’s six firms, according to IBD recruiter Jon Henschen of Henschen & Associates. In addition to rivals’ recruiting sweeps in the wake of Advisor Group’s acquisition of Ladenburg Thalmann, fellow network firm FSC Securities lost “quite a few” representatives, Henschen says.
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