Advanced Equities engages ex-Smith Barney honcho

Thomas Coyle

3 April 2008

Campanale to help build out wealth-management platforms for IBD affiliates. Advanced Equities Financial Corporation (AEFC) has named Frank Campanale, former head of Smith Barney 's Consulting Group, as CEO of its Wealth Management unit.

Campanale will supervise the expansion of wealth-management and investment-consulting products and services to AEFC's independent-broker subsidiaries First Allied Securities and FFP Securities and its "captive" private-client group Advanced Equities Inc.

" has a profound understanding of the investment management space," says Dwight Badger, CEO and co-founder (with chairman Keith Daubenspeck) of AEFC. "His joining the company is consistent with our goal of enhancing our position as one of the industry's premier money management firms and the partner of choice for entrepreneurial advisors committed to growing their businesses," says Campanale.

By one measure at least, AEFC is already a formidable distributor. In 2006 Investment Advisor magazine said its First Allied affiliate had the highest average annual gross production per advisor -- $282,000 -- of any independent broker-dealer. -FWR

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