AIG Looking to Buy Hartford Advisory Group
August 15, 2012 by Arthur D. Postal
From the Washington Bureau
July 23, 2012 •
American International Group’s SunAmerica unit is seen within the securities distribution industry as the strongest amongst four suitors for Hartford Financial Groups’s broker-dealer arm, Woodbury Financial Services, Inc.
Hartford has placed Woodbury, which has 1,600 registered representatives and financial advisers, up for sale as part of its decision to divest itself of life insurance operations in order to concentrate on property and casualty-related businesses.
Woodbury is based in Woodbury, Minn., and dates to 1910. It has 1,600 affiliated representatives and had more than $230 million in revenue in 2010, according to several sources. Click here to read more…