Advisor Intelligence

Woodbury Taps Insider to Lead Firm

Woodbury Financial selected its new president and CEO from within the ranks, tapping former vice president of and field development Rick Fergesen to lead the firm Monday.

Fergesen takes over the role as president and CEO in charge of leading Woodbury’s 1,2000 advisors from former president Pat McEvoy, who resigned in December. McEvoy’s departure hit just months after Larry Roth’s resigned as then-head of AIG’s Advisor Group—which includes Woodbury Financial, Royal Alliance Associates, SagePoint Financial and FSC Securities. Roth then joined Nicholas Schorsch's RCS Capital as CEO in September.

“Over the past two months, we visited with a number of candidates for this important role, both internally and externally,” said Advisor Group's President and CEO Erica McGinnis on Monday.

Fergesen, who joined Oakdale, Minn.-based Woodbury in 1998 as vice president of strategic and operational planning, has held a variety of positions within the company over the years, including being named chief financial officer in 2001. Fergesen was also key in helping implement an integration plan after Advisor Group acquired Woodbury in 2012.

In a statement Monday, Fergesen said he was very excited for the opportunity to lead the firm. “We have made tremendous enhancements to our firm in recent years, offering Advisor Group’s industry-leading technology platform, enhanced support tools and services and more. I am excited about the future of Woodbury Financial and our ability to serve the evolving needs of today’s financial advisors.”

Please or Register to post comments.

What's Advisor Intelligence ?

The quick hits of information you need to make you a smarter wealth manager

Contributors

Diana Britton

Diana Britton is the Managing Editor of WealthManagement.com and REP. Magazine, covering asset management and independent broker/dealers from all angles. A native of Los Angeles, she now lives in...

Megan Leonhardt

Megan Leonhardt is the associate editor at WealthManagement.com, covering all of the wirehouse news, as well as regulatory affairs. A business journalist with a background in the legal industry,...
Blog Archive
Investment Category Sponsor Links

 

Sponsored Introduction Continue on to (or wait seconds) ×