New York Broker/Dealer, Advisory Firms Get New Chief

January 21, 2009 ( - Tom M. Wirtshafter has been named president of American Portfolios Financial Services (APFS) and American Portfolios Advisors Inc. (APA), a registered investment adviser, according to an announcement.

As president of the Holbrook, New York-based APFS, Wirtshafter succeeds Frank A. Tauches, Jr., who will remain with the broker/dealer as executive vice president and chief legal counsel, according to the announcement.

Wirtshafter also succeeds Thomas J. LoManto as President of APA. LoManto will remain with the firm as Senior Vice President of Advisory Services.

Prior to being named president, Wirtshafter had been a board member and consultant for APFS since 2004. “Over the years, Tom has had a behind-the-scenes hand in shaping the firm’s growth and his counsel has been invaluable,” said Lon T. Dolber, the firm’s chief executive officer, in the announcement. “Tom is a roll-up-your-sleeves, results-driven manager, which is a perfect fit for us.”

Wirtshafter brings more than 30 years of experience to the firm, having served as chief operating officer first with Nathan & Lewis Securities, Inc., before its acquisition by MetLife, then with AXA Advisors.