Reverence Capital-backed Advisor Group, a networks of independent wealth management firm, agreed to acquire American Portfolios, a full-service, independent broker-dealer and member firm of FINRA and SIPC. Financial terms were not disclosed. "American Portfolios is one of the most well-established firms in its space. Lon and his team have built a distinctive business spanning 22 years. We are honored to partner with them to continue their growth. This acquisition underscores Advisor Group's commitment to generating the right type of growth as part of a strategic framework that delivers value to all the entrepreneurial businesses we serve. Over time, we look forward to leveraging our scale and capabilities to better serve American Portfolios financial professionals and their clients," Jamie Price, Advisor Group President and CEO.