Derek Burke Named President and CEO of Advisor Group’s FSC Securities

FSC Securities Corporation, an independent broker-dealer and registered investment advisor, announced that Derek Burke has been appointed President and CEO. Burke is replacing Jerry Murphy, who is leaving to become a partner at one of FSC’s largest OSJ groups, Legacy One Group.

FSC is a subsidiary of Advisor Group Inc., one of the nation’s largest networks of independent financial advisors, and currently manages $37 billion in client assets. Burke is based in FSC’s Atlanta headquarters and will report to Advisor Group president and CEO, Jamie Price.

“Derek brings both deep leadership experience and a passion for championing advisors to his new role,” said Price. “As FSC gets ready to celebrate its 60th birthday in 2018, the firm will maintain the culture underlying its past success, while also continuing to focus on innovation. It’s crucial to stay ahead of the curve in this digital era and to surpass clients’ evolving expectations.”

Previously, Burke was president of independent broker-dealer Waddell & Reed Inc. and stepped down earlier this year. Throughout his career, he has held a number of senior executive positions in the wealth and asset management industry, having served as managing director of UBS America’s wealth management platform, chief operating officer of New York Life’s investment management group and chief compliance officer for Prudential’s private asset management business.

Burke started his career as an enforcement attorney with the U.S. Securities & Exchange Commission in New York and then as a litigation associate with Collier, Jacob & Mills, P.C.

He earned a juris doctor degree from Rutgers Law School and a bachelor of science degree in finance from Seton Hall University. He holds FINRA Series 7 and 24 licenses and is a member of the Stillman School of Business advisory board at Seton Hall University, and a member of the Planned Giving Committee of Cerebral Palsy of North Jersey.

Advisor Group Inc. is one of the nation’s largest networks of independent financial advisors serving nearly 5,000 advisors and overseeing approximately $160 billion in client assets. Headquartered in Phoenix, the firm offers securities and investment advisory services through its subsidiaries FSC Securities Corp., Royal Alliance Associates Inc., SagePoint Financial Inc., and Woodbury Financial Services Inc.

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