Broker-dealer FIS renames itself AAM, says move reflects growing asset management business

By Kenneth Lim

Boston, June 16 - Broker-dealer Fixed Income Securities, Inc. has changed its name to Advisors Asset Management, Inc. to reflect that division's growing contribution to the company.

"Refocusing our brand will help take Advisors Asset Management to the next level of providing complete investment solutions to our partners by allowing us to bring a more consistent and accurate image to the marketplace," AAM chairman and chief executive Scott Colyer said in a statement. "We are proud of our heritage as an innovator in fixed income technology and services. We have a history built on change, and the AAM brand best accommodates our current and future business model, allowing us more flexibility with regard to product distribution and market expansion."

AAM was created in 2004 as a division of FIS following FIS' acquisition of Matrix Unit Trust, Inc. The entire company currently partners with more than 75 broker-dealers, 2,500 independent registered advisers and 175 street accounts, according to a press release.

FIS itself was formed almost 30 years ago as a "simply bond trading firm," Colyer told Prospect News.

The move to unify the two brands under the AAM name reflects the growth of that division within FIS, Colyer said.

"The non-bond portion of our business has grown to be well over half our business," he said. "And if you look at areas that are growing the most, it's in the additional tools and services for advisers."

AAM retains the rights to the FIS brand, but the company currently has not decided whether it will use the FIS name in another way, Colyer said.

The rebranding will be a simple name change.

"AAM will maintain the same look and feel we've branded over the years," AAM president Andrew Williams said in the release.

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