HOLBROOK, N.Y. (Feb. 28, 2022)—American Portfolios Financial Services, Inc. (AP)—a privately-held, independent broker/dealer that provides services and support for financial professionals across the United States—is pleased to formally announce that William Cairney has joined the firm in the capacity of senior vice president and chief compliance officer.
“We are extremely pleased to have Bill on board at AP,” states CEO and President Lon T. Dolber. “His hands-on method of tackling intricate regulatory rulings and tough compliance issues, along with his proactive problem-solving skills, will aid the firm in mitigating risk and increasing productivity.” Among his broad skillset, Cairney possesses established expertise concerning FINRA and SEC rules and regulations; review, testing and training; the Best Interest Regulation; ADV requirements; and surveillance design and buildout. Dolber adds, “His proven track record for recognizing and providing surveillance solutions for broker/dealers and Registered Investment Advisors is a major asset to AP and the more than 725 investment professionals we serve.”
Under the direction of Executive Vice President and Chief Legal Counsel Craig Vollono, Cairney oversees AP’s compliance team, working with the company subsidiaries—broker/dealer (B/D) American Portfolios Financial Services, Inc. (APFS) and Registered Investment Advisor (RIA) American Portfolios Advisors, Inc. (APA) —to provide oversight and review. His responsibilities include developing and maintaining policies and procedures, the overall design and maintenance of its compliance programs, and ensuring the firm complies with regulatory requirements, as well as firm-wide policies and supervisory procedures. “We are excited Bill decided to join our firm as he will certainly complement our already strong compliance team,” states Vollono. “His intimate knowledge of key issues faced by both our B/D and RIA businesses will be instrumental as the firm continues to grow. The practical business sense he brings to compliance issues will undoubtedly be of huge benefit to our clients.”
Cairney brings with him more than 30 years of financial services industry knowledge and expertise. Prior to joining AP, he worked at Teachers Insurance and Annuity Association of America – College Retirement Equities Fund (TIAA-CREF), a Fortune 100 non-profit corporation founded by Andrew Carnegie that provides financial services for people who work in academics, research, medical, cultural and governmental fields. During his tenure there, Cairney served as senior compliance director and chief compliance officer of TIAA-CREF’s Advice and Planning Services (APS), providing B/D and RIA guidance to the organization. In his role, Cairney ensured compliance with all SEC RIA requirements. He was also the lead compliance representative during the comprehensive APS review of SEC Best Interest Regulation (Reg BI), and the implementation and rollout of the policies, procedures and training for the Form CRS requirements.
Earlier in Cairney’s career, he held chief compliance officer positions at notable financial services firms including Barclay’s Capital, Inc., and J.P. Morgan Securities LLC. In addition, he also was an executive director responsible for product surveillance at Morgan Stanley. Before he transitioned into compliance, Cairney managed mutual fund operations at Morgan Stanley, Goldman, Sachs & Co., Oppenheimer & Co., and Smith Barney, Harris Upham & Co.
About American Portfolios
Headquartered in Holbrook, New York, American Portfolios Financial Services, Inc. (APFS) is a full-service, independent broker/dealer and member firm of FINRA and SIPC, offering a complete range of financial services, including personal financial and retirement planning, securities trading, mutual funds, access to investment research, long-term care planning, insurance products and tax-free investing. Fee-based asset management is offered through its sister subsidiary, American Portfolios Advisors, Inc., (APA), an SEC Registered Investment Advisor. Both entities, along with technology entity American Portfolios Advisory Solutions, LLC, collectively reside under the legal entity American Portfolios Holdings, Inc. (APH). Full-service securities brokerage is available through a clearing firm relationship with Pershing, LLC, a BNY Mellon firm, the securities of which are held on a fully disclosed basis. The company supports independent investment professionals—inclusive of registered assistants and non-registered associates—throughout the nation.
American Portfolios has numerous recognitions by a number of industry publications and organizations. Such acknowledgment includes: multiple Broker-Dealer of the Year* (Division III) wins by Investment Advisor magazine; multiple ThinkAdvisor LUMINARIES awards; multiple finalist and award wins by WealthManagement.com Industry Award in multiple categories**; Corporate Citizen of the Year by Long Island Business News; multiple top placements as one of the Best Companies to Work for in the state of New York by the New York State Society for Human Resources Management (NYS-SHRM) and the Best Companies Group (BCG); and one of the Top Long Island Workplaces.
* Based on a poll of registered representatives conducted by Investment Advisor magazine. Broker/dealers rated highest by their representatives are awarded “Broker/Dealer (B/D) of the Year.”
** Wealthmanagement.com Industry Award finalists are selected by a panel of independent judges made up of subject matter experts in the industry. Award is based on support provided to AP’s affiliated people and does not reflect public customers nor their account performance.
About William Cairney
Bill Cairney’s curriculum vitae spans more than 30 years, during which he held C-suite and senior-level management positions at Fortune 500 companies such as Teachers Insurance and Annuity Association of America – College Retirement Equities Fund (TIAA-CREF), Barclay’s Capital, Inc., J.P. Morgan Securities LLC, and Morgan Stanley & Co. Before making the transition into compliance, he managed mutual fund operations at Morgan Stanley, Goldman, Sachs & Co., Oppenheimer & Co., and Smith Barney, Harris Upham & Co. Cairney obtained a bachelor’s degree in finance from Marist College in New York and holds FINRA Series 7, 24 and 63, as well as the Securities Industry Essentials (SIE) registration.