American Portfolios Financial Services is an independent broker-dealer with at least 850 financial professionals working with $40 billion in client assets. Advisor Group is slated to purchase American Portfolios for an undisclosed sum; the entities expect to close in the third or fourth quarter.
American Portfolios will become a member of Advisor Group's network and will continue to do business using its brand and operating model. Jamie Price, CEO of Advisor Group, anticipates that the integration of American Portfolios into Advisor Group will be relatively easy because both firms are privately held.
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