Jeffrey M. Auld was named the new President and CEO of AIG Financial Advisors and American General Securities Inc., replacing James R. Cannon. Auld will report to R. Lawrence Roth, CEO, AIG Advisor Group.

Cannon had worked with the firm beginning in 1987 and was pivotal in the transaction that created AIG Financial Advisors out of three broker-dealers in October 2005. An AIG spokesperson stated he was departing for personal reasons.

Most recently, Auld, a well known persona in the advisory industry, led Iowa-based Berthel Fisher, an independent broker-dealer. He departed that position in early May after two years, citing personal reasons. Sources at Berthel Fisher said they were a bit surprised at Auld's decision to depart, as it was delivered while the company was working to extend his compensation package.

In all, Auld has 30 years in the industry, including serving as CEO of NEXT Financial, where he helped the start-up broker-dealer transform into one the top 40 independent broker-dealers in just under five years.
 
AIG Financial Advisors and AGSI are a part of AIG Advisor Group, which also includes FSC Securities Corp., and Royal Alliance Associates, forming one of the largest independent broker-dealer networks in the U.S. with approximately 7500 independent financial advisors.