Mark Schlafly has resigned as president and chief executive officer at FSC Securities, one of the three independent broker-dealer groups owned by AIG, Linda Malamut, a company spokeswoman confirmed Tuesday afternoon.
The company had not named a replacement for Schlafly, who had been at FSC Securities since June 2008, according to his profile on LinkedIn. Larry Roth, president and chief executive officer of Advisor Group, will assume Schlafly’s responsibilities, carrying both titles, until a replacement is named.
Schlafly had decided to return home to St. Louis for family reasons, according to a company statement. “We respect his decision and wish him every success in the future,” Malamut said in an emailed statement. “We recognize Mark’s many accomplishments and thank him for his dedicated service to FSC Securities and Advisor Group.”
FSC credited Schlafly with stabilizing and accelerating advisor retention, and retaining its position as a strong independent broker-dealer. Financial Planning ranked FSC as the 16th largest independent broker-dealer in its latest survey.
Previously, Schlafly had been a senior vice president at LPL Financial, and a vice president at A.G. Edwards.