American Portfolios Joins Advisor Group: A $40B Wealth Management Integration Marks Industry Consolidation

The independent wealth management landscape just got a major shake-up. American Portfolios, a New York-based broker-dealer overseeing roughly $40 billion in client assets, has officially transitioned into the Advisor Group network. What’s particularly striking here is the retention rate: 98% of the firm’s 850+ financial professionals across nearly 400 branches chose to move forward with this transition—that’s a rare win in industry consolidations where talent defection typically poses the biggest challenge.

Why This Deal Matters

This isn’t just another routine M&A activity. American Portfolios will retain its independent brand and operational structure under the Advisor Group umbrella, which now oversees approximately $515 billion in total client assets. The firm’s Chairman, CEO, and President Lon T. Dolber has stepped into the role of Vice Chairman at Advisor Group, suggesting a leadership-level commitment to making this partnership work.

Advisor Group’s ecosystem already comprises seven major platforms: FSC Securities, Infinex Financial Holdings, Royal Alliance Associates Inc., SagePoint Financial, Securities America, Triad Advisors, and Woodbury Financial Services. By absorbing American Portfolios’ substantial asset base and advisor network, the group reinforces its position as one of the nation’s largest independent wealth management platforms.

The Strategic Timing

This acquisition follows closely on the heels of Advisor Group’s October closure of Infinex Financial Holdings, a broker-dealer focused on serving banks and credit unions. The pattern suggests an aggressive consolidation strategy aimed at expanding reach across different segments of the wealth management sector.

According to Advisor Group President and CEO Jamie Price, the successful integration underscores “cultural and corporate alignment between the two firms.” The 98% advisor retention rate speaks volumes—in an industry where advisors frequently shop around, that level of buy-in reflects genuine confidence in the combined entity’s value proposition.

What’s Next

The combined platform now serves approximately 9,700 financial professionals managing client assets worth over half a trillion dollars. American Portfolios will continue operating under its established brand, though it gains access to Advisor Group’s broader technology infrastructure, compliance resources, and distribution channels. For the nearly 10,000 existing Advisor Group advisors, the addition of American Portfolios’ client base and advisor talent pool represents expanded opportunity and competitive positioning in an increasingly consolidated market.