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Advisor Group Tag

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Advisor Group Taps Erinn Ford to Lead Advisor Engagement

17:13 03 February in In the News by rafferty

February 3, 2021 By Diana Britton, WealthManagement.com The former CEO of KMS Financial will lead a new team at Advisor Group dedicated to creating a "feedback mechanism" to better support advisors, tailored to their specific business model. Erinn Ford, the former CEO of Advisor Group subsidiary KMS Financial and former president of Cetera Advisors, has been promoted to executive vice president of advisor engagement at Advisor Group. In the newly-created role, she'll create a feedback mechanism to get advisors' input on the firm's offerings, and implement a business-segmentation approach to developing services and support across the firm. “My whole life I’ve had the opportunity to serve financial professionals, and what’s energizing for me, I’ll be able to have influence over all 11,000 at Advisor Group and bringing not only that sense of community, but also bringing the growth and efficiency...

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Advisor Group, Cetera Face Heavy Debt, Big Risks

18:09 11 January in In the News by rafferty

January 8, 2021 By Jeff Berman, ThinkAdvisor Credit agencies say these firms' debt loads weigh on their ratings. But the firms say it's a strategy they can manage. (The private equity firm Reverence Capital bought a 75% stake in Advisor Group in 2019.) Advisor Group Comfortable With Debt Level Advisor Group declined to specify how it financed the Ladenburg acquisition or comment on Henschen’s estimate of how much of its cash flow is used to service junk bonds. “As a private company we do not disclose or publicly discuss our financial statements,” Jamie Price, Advisor Group president and CEO, pointed out. Price also said: “Our management and board are comfortable with our leverage given our strong recurring cash flow and high cash position. We are benefiting from lower rates on our variable debt and we have a significant...

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Advisor Group still facing hurdles on debt: Fitch Ratings

17:52 08 December in In the News by rafferty

December 7, 2020 By Bruce Kelly, Investment News Advisor Group, a leading network of independent broker-dealers, is juggling both obstacles and advantages in the marketplace, and that means its debt is being closely watched, according to a report last month from the rating agency Fitch Ratings Inc. On one hand, Advisor Group has a business model that generates cash, a relatively flexible cost base, which could help cushion revenue declines in the current environment, and attractive retention rates of financial advisers, according to Fitch, which issued the report November 10 and left its ratings for Advisor Group’s bond unchanged at B-, or junk. Fitch also maintained a ratings outlook of “negative” for the bonds. On the other, the broker-dealer network faces risks of integration of broker-dealer back office functions, hitting profitability levels, and reducing...