Woodbury Financial, part of the AIG-owned Advisor Group of independent broker-dealers, named Rick Fergesen president and CEO late Monday. Fergesen previously served as the executive vice president of business and field development for the IBD, which has nearly 1,200 affiliated advisors and is based in Oakdale, Minn.
Fergesen was tapped to replace Pat McEvoy, who resigned in December. That news came on the heels of the departure of then-Advisor Group chief Larry Roth in September. (Roth left the firm to become CEO of Realty Capital Securities).
“Over the past two months, we visited with a number of candidates for this important role, both internally and externally,” said Advisor Group President and CEO Erica McGinnis, in a press release. “Rick’s demonstrated capabilities, his knowledge of Woodbury Financial’s culture, employees, and advisors, and his insights into the independent broker-dealer industry make him an excellent choice to lead Woodbury Financial into the future.”