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Financial Planning > Behavioral Finance

Royal Alliance Adds $600M Group With 33 Reps

By Janet Levaux

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Royal Alliance, a member of the AIG Advisor Group of independent broker-dealers, said Thursday that an RIA group with 33 advisors and about $600 million in assets is now affiliated with it: Affiliated Advisors Group of Bloomington, Illinois, which previously did business as First Midwest Securities.

“Affiliated Advisors Group is an outstanding addition to the Royal Alliance family,” said Dmitry Goldin, president and CEO of Royal Alliance, in a statement. “The caliber of the firm’s advisors and their unique sense of culture make them an excellent fit.”

The group got its start in Milwaukee in 1989 and then expanded by adding advisors in surrounding markets, like Chicago. When it joined Royal Alliance this week, the team closed its doors as a broker-dealer.

“Joining Royal Alliance was an excellent opportunity for our firm,” said James Linna, chairman and co-founder of Affiliated Advisors Group, in a statement. “The resources that their platform can offer our advisors are invaluable. Furthermore, our vision for independent advisors aligned so well that this seemed like a natural next step for our firm.”

Royal Alliance includes about $53 billion in client assets and some 1,900 affiliated independent financial advisors. In addition to Royal Alliance, the AIG Advisor Group FSC Securities, SagePoint Financial and Woodbury Financial Services, which have nearly 6,000 reps.

Securities America News

Securities America, part of Ladenburg Thalmann Financial Services (LTS), says an independent team that moved to LPL Financial (LPLA) for the past four years, recently returned to affiliate with the broker-dealer: Terry Bethea and Larry Angst of Birmingham, Alabama, who have about $100 million of client assets.

“We rejoined Securities America to move to a firm where working relationships were more personal,” said Angst, in a statement, and “where the staff you are interacting with know you and your situational needs.”

During their time with LPL Financial, Bethea stayed in contact with Clyde Wyatt III, managing director of Navigation Financial Services, who is now their branch manager.

“I’ve known Clyde since 1989. That relationship, as well as a connection with some of the home office employees at Securities America, coupled with the ease of doing business offered through this affiliation, were the driving factors in my return,” said Bethea, in a press release.

Securities American has about 2,000 independent advisors and $55 billion in client assets.

“Since they had previously been affiliated with Securities America and have known the Navigation Financial Group for years, they had a high comfort level in their decision,” added Wyatt, in a statement. “We were glad to have them back.”

 — Check out 5 Clients Are Better Than 500, Says One Advisor on ThinkAdvisor.

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