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AIG completes sale of adviser network

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AIG completes sale of adviser network

American InternationalGroup Inc. has completed the sale of its adviser business to funds affiliatedwith private equity firm LightyearCapital LLC and PublicSector Pension Investment Board.

The dealwas announced Jan. 26 as part of the insurance giant's plan to shed assets and becomeleaner.

AIG Adviser Group has more than 5,200 independent advisers and800 full-time employees. The business includes the brokers FSC Securities Corp., Royal Alliance Associates Inc., SagePoint Financial Inc. and Woodbury Financial Services Inc.