HOLBROOK, N.Y., April 5, 2013 /PRNewswire/ -- American Portfolios Financial Services, Inc. (APFS) is pleased to announce that Steven E. Rothstein, former executive vice president and CFO of AIG Advisor Group, Inc., recently joined the Advisory Council for the Board of Directors of American Portfolios Holdings, Inc. (APH). The advisory council brings to the board a diverse mix of outside expertise in the areas of broker/dealer infrastructure; correspondence clearing; investment banking; financial management; and web-based, enterprise data management and reporting financial service solutions.
Other members of the advisory council include Jay Lewis, founder of Nathan & Lewis Securities; Norman Malo, former CEO of National Financial; Arthur Goldberg, former CEO of Integrated Resources, Inc.; and Edward Morrison, former COO of Albridge Solutions, an affiliate of Pershing, LLC, which is a division of BNY Mellon.
With nearly 40 years of industry experience, Rothstein has been a top tier business executive with a successful career in financial management, working in major organizations including Merrill Lynch & Company, Integrated Resources, Inc., and Royal Alliance Associates, Inc. In his recent role as executive vice president and chief financial officer for AIG Advisor Group, Inc., (formerly SunAmerica Financial Network, Inc.) from 1997 to 2010, Rothstein oversaw the financial activities of its three broker/dealers—consisting of more than 6,000 licensed registered advisors, more than $1 billion in revenues and in excess of $150 million in operating expenses. His proven track record of impacting on revenues, controlling expenses and enhancing operations in competitive environments makes him an important and invaluable member of the advisory council.
"The addition of Steve Rothstein to our board of directors' advisory council has created a more perfect blend in our 'think tank' of outside industry expertise, combined with internal corporate and entrepreneurial talent," said APH CEO Lon T. Dolber. "His keen understanding of the financial challenges and opportunities within the financial service industry—more specifically the independent space—brings measured and circumspect reasoning to the table."
About American Portfolios
Headquartered in Holbrook, N.Y., APFS is a full-service independent broker/dealer and member firm of FINRA and SIPC, offering a complete range of financial services, including personal financial and retirement planning, securities trading, mutual funds, access to investment research, long-term care planning, insurance products and tax-free investing. Fee-based asset management is offered through its sister subsidiary, American Portfolios Advisors, Inc., (APA), an SEC registered investment advisor. Both entities, along with technology division American Outsources, LLC (AO) collectively reside under the legal entity, American Portfolios Holdings, Inc. Full-service securities brokerage is available through a clearing firm relationship with Pershing, LLC, a BNY Mellon firm, the securities of which are held on a fully disclosed basis. The company currently serves more than 832 independent investment professionals located in 384 branch locations throughout the nation.
Melissa Grappone, Director of Corp. Comm.
SOURCE American Portfolios Financial Services, Inc.