sidebar

Connect: 319-210-7700

archive

broker dealer Tag

ThinkAdvisor logo

What Will Lightyear Do With AIG Advisor Group?

17:42 02 February in In the News by rafferty

January 26, 2016 by Emily Zulz, ThinkAdvisor   In an acquisition like the purchase of AIG Advisor Group by Lightyear Capital and PSP Investments, there are usually two options, recruiter Jon Henschen says After weeks of speculation, Lightyear Capital has confirmed that it – along with one of Canada’s largest pension investment managers, the Public Sector Pension Investment Board – has agreed to acquire AIG Advisor Group. The transaction is subject to customary regulatory and other approvals, and terms of the transaction were not disclosed. As part of the deal, investment funds affiliated with Lightyear and PSP Investments will have the majority of the seats on Advisor Group’s Board of Directors. In a statement, Guthrie Stewart, senior vice president and global head of private investments at PSP Investments, said: “We are pleased with this transaction, which is in...

Investment News logo

New owner of AIG Advisor Group may be announced Tuesday

01:17 26 January in In the News by rafferty

January 25, 2016 by Christine Idzelis, Investment News   Call set for 8 a.m. for parent company to discuss plan to sell off some non-core businesses Brokers at AIG's Advisor Group may find out as early as Tuesday morning who the new owner of the adviser network will be. American International Group Inc. has scheduled a call for 8 a.m. Tuesday to discuss its plan to sell off some of its non-core businesses. The firm has been under pressure from billionaire investor Carl Icahn to break itself up to unlock shareholder value. Citing anonymous sources, the Wall Street Journal reported Sunday that AIG is nearing a deal to sell its broker-dealer business and named Lightyear Capital as a buyer. AIG Advisor Group is a small piece of AIG's business that produces tens of millions of dollars in earnings annually, according to...

financial advisors

Embattled Advisors Get Relief From RCS Bankruptcy Plan

16:40 21 January in In the News by rafferty

January 19, 2015 by Dan Jamieson, Financial Advisor   RCS Capital Corp.’s bankruptcy filing sounds like a bad development, but it may actually provide some relief to its embattled advisors. The $150 million capital infusion and reorganization plan, announced at the beginning of January, provides some light at the end of what has been a long, dark tunnel for the 9,500 reps who’ve been remarkably loyal since RCS Capital (RCAP) began unraveling in 2014 after an accounting scandal surfaced at an affiliated firm. The new money will allow the struggling holding company to restructure its debt while it goes private, as well as fund a retention deal for advisors. Cetera Financial Group, the large network of independent broker-dealers strung together by RCAP, will become the primary focus of the new entity. That’s good news. But the troops...