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“Women are better suited,” to excel in wealth management, “than a lot of men,” according to Larry Roth, president and CEO of SunAmerica’s Advisor Group. Why? “Because, they get the whole picture. The core discussion is not economics–it’s really more about how to make [the clients' goals] possible.” After opening the conference, Roth sat down to talk with Wealth Manager.
In its fourth year, the 2010 conference boasted the largest turnout so far, with 150 advisors, and 100 others including staff, vendors and journalists. Advisor Group, made up of FSC Securities Corp., Royal Alliance and SagePoint Financial, is part of the SunAmerica retirement and life insurance wing of AIG.
Along with challenges that include uncertainty on the regulatory front, “margins remain a challenge,” Roth notes, though perhaps less so for firms that have the kind of scale that Advisor Group has. Parent company AIG is a TARP beneficiary and at one point had the broker/dealers up for sale. Ultimately, no deal was consummated, but there was some loss of affiliated brokers, and Roth said in his opening remarks that he was happy to report attrition has, “stabilized–down to normal attrition rates.”