FSC Securities Corporation Appoints Derek Burke as President and CEO
Thursday, September 14th, 2017
FSC Securities Corporation, an independent broker-dealer and registered investment advisor representing more than 1,000 financial advisors across the country, announced that Derek Burke has been appointed President and CEO. Derek will fill the role being vacated by Jerry Murphy, who is leaving to become a partner at one of FSC's largest OSJ groups. A subsidiary of Advisor Group, Inc., one of the nation's largest networks of independent financial advisors, FSC currently manages $37 billion in client assets.
Reporting to Advisor Group President and CEO Jamie Price, Burke is based in FSC's Atlanta, GA headquarters. He is responsible for developing and implementing the strategic direction of FSC's business and implementing growth initiatives designed to capture significant opportunities emerging from Advisor Group's proactive navigation of the fiduciary era.
"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. Derek's skills position FSC to do just that."
Previously, Burke was President of independent broker-dealer Waddell & Reed, Inc. where he led a collection of strategic initiatives that revamped the firm's way of doing business - including the creation of a new advisor workstation, the launch of new advisory programs, enhancement of succession and business planning platforms and the facilitation of advisor growth strategies.
Throughout his career, Derek 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. Derek 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. Derek earned a Juris Doctor degree from Rutgers Law School and a Bachelor of Science degree in Finance from Seton Hall University. He is registered by FINRA as a General Securities Representative (Series 7), and a General Securities Principal (Series 24). Derek is also 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.
"I'm excited and grateful for the opportunity to join FSC and Advisor Group during such an important and dynamic time in our industry," said Burke. "The innate focus that Advisor Group and FSC have on helping advisors address the holistic needs of their clients makes us uniquely positioned to partner with the best independent advisors in the industry. I'm thrilled to join the firm's leadership team in working to build a best-in-class wealth management platform and in doing so, uphold our mission: to always have our advisors' backs, and to be in their corner every step of the way."
"I want to thank Jerry Murphy for his service," said Price. "He provided a steady hand and sound counsel to FSC during the tumultuous days of the financial crisis and throughout the ensuing market recovery period. We are also excited to welcome Derek to our Advisor Group family as Jerry pursues the next phase in his career as a partner in one of our most important OSJ offices. It's an exciting time for both Jerry and Derek, as well as for FSC."