American International Group late Tuesday said its life and retirement unit, SunAmerica Financial Group, Inc., will acquire independent broker-dealer Woodbury Financial Services, adding more than 1,400 advisors to the 4,800 existing independent advisors already in the fold.

Financial terms of the deal were not disclosed, but company officials said the acquisition will close by year's end. Woodbury joins SagePoint Financial, Royal Alliance Associates and FSC Securities Corp. under its broker-dealer umbrella.

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