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SagePoint Hires Dee Morgan to Head Recruiting

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Independent broker-dealer SagePoint Financial hired Dee Morgan to head its recruiting efforts, the Advisor Group-affiliated IBD said Monday. Morgan joins the organization as senior vice president of recruiting and will lead an expanding team focused on attracting independent, wirehouse and hybrid advisors to the Phoenix-based firm, which now has roughly 1,500 producing advisors and $25 billion in client assets.

SagePoint Financial has a long, rich history in the financial services industry, and I have long admired the firm,” said Morgan (left) in a statement. Jeff [Auld, the CEO] and his team have successfully recruited a number of wonderful financial advisors in the last few years, but I want to focus on attracting even more talent, including hybrid advisors, large OSJs and small-broker dealers.”

Morgan, 43, comes to SagePoint from Williams Financial Group in Dallas, where he served as senior vice president, director of business development and recruiting, since 2008. (In December, Williams Financial Group recruited a team from Morgan Stanley (MS) to join its independent network of advisors.)

Prior to this role, Morgan was a regional managing director of Lincoln Financial Corp., vice president of wealth management for Compass Bank, and vice president and branch manager of Fidelity Investments.

“We are delighted that Dee has joined our organization to oversee our recruiting efforts,” said SafePoint Auld (right), in a press release. “With nearly 20 years of experience in the financial services industry and his exceptional leadership skills, I am confident that Dee will help drive our ambitious recruiting goals at SagePoint Financial and help us become the firm for independent financial advisors.”

In February, SagePoint recruited a team with more than $1.8 million in yearly fees and commissions and $200 million in assets from Securities America. At the time, Auld said the IBD had raised its recruiting goal for 2012 to about $25 million in production from $17.5 million in 2011.

Last year, SagePoint recruited 230 advisors, mostly from other independent broker-dealers. It has recruited 44 in early 2012. (The IBD has about 500 employees and had  2010 revenue of $223 million.) 

“SagePoint Financial has the industry’s leading technology, committed back office support and the open architecture platform today’s advisors need to grow their business,” Morgan said, “and I look forward to showing advisors the positive impact we can provide to their practice.”

The Advisor Group, which includes more than 4,430 producing advisors, recruited some 400 advisors to its three broker-dealers — Royal Alliance, FSC Securities and SagePoint — in 2011. And it’s raising the bar for 2012. “Our target is closer to 750 overall this year,” said Advisor Group President & CEO Larry Roth, in a recent interview.


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