ON THE MOVE: AIG's SagePoint adds adviser team

(Reuters) - SagePoint Financial Inc, a retail brokerage unit of American International Group, has expanded its adviser base in California with the addition of a team managing about $200 million in client assets, the company said on Monday.

AmeriFlex Financial Services, a Santa Barbara-based group with a team of five advisers, joined SagePoint in January from Securities America. The group generated about $1.9 million in revenue last year. SagePoint Chief Executive Jeff Auld told Reuters he hopes to add about $25 million in production in 2012.

"We're large enough to have the technology and resources to accommodate a lot of different business styles, some focused on the fee-based business and some who are former wirehouse guys," Auld said.

SagePoint last year added about $17.5 million in production from advisers who joined the firm.

AmeriFlex is led by Chief Executive Tom Goodson, who has worked in the industry for more than two decades. He is joined by advisers Justin Anderson, Diana Heu, Maxwell Phillips and Hannah Sink. The team is joined by four additional staff members.

SagePoint, based in Phoenix, currently has about 1,700 advisers across the United States in its network and more than $25 billion of total account assets.

Founded in 1970, SagePoint is one of three independent broker-dealers part of the Advisor Group under SunAmerica Financial, the life insurance and retirement unit of AIG.

(Reporting by Ashley Lau; Editing by Steve Orlofsky)