TORONTO (S&P Global Ratings) June 22, 2022--S&P Global Ratings today said Advisor Group Holding Inc.'s (B-/Stable/--) announcement to acquire American Portfolios Financial Services Inc., an independent broker-dealer, does not significantly affect its creditworthiness. The acquisition follows Advisor Group's agreement in May to acquire Infinex Financial Holdings, a broker-dealer focused on supporting banks, credit unions, and financial institution-based financial advisors and their clients. We believe these acquisitions will strengthen Advisor Group's market position by adding scale and enhancing recurring revenue. As the second-largest independent broker-dealer in the U.S., Advisor Group will have more than $550 billion in total client assets (including $40 billion acquired from American Portfolios and $30 billion from Infinex) on a pro forma basis, as of March 31,
