On June 22, 2022, Advisor Group announced its acquisition of American Portfolios Financial Services, Inc.
Under the terms of the transaction, Advisor Group acquired American Portfolios Financial Services, Inc. (“American Portfolios”). Lon Dolber, the Chairman, CEO, and President of American Portfolios, will join Advisor Group as Vice Chairman. Further terms were not disclosed.
Advisor Group, headquartered in Phoenix, Arizona, is a network of independent wealth management firms. As of December 2021, Advisor Group oversaw approximately $515 billion in client assets.
American Portfolios, based in Holbrook, New York, is a full-service investment services firm and independent broker/dealer with approximately $40 billion in client assets.
To read the press release, please click here.