The US-based broker-dealer and investment advisory firm has bolstered its compliance effort by appointing Joseph Terry as deputy chief compliance officer.

In his previous job, Terry was chief supervision officer for AIG's advisory group, where he was responsible for 'supervision activities' in both the retail and investment advisory businesses. He also led an organisation of about 100 employees.

Terry also used to be the president, chief executive and chief compliance officer at Horace Mann Investors. He has also performed compliance functions at Nationwide.

In his new position, he will help with the broker-dealership's implementation of the US Department of Labour's fiduciary rule. It is not yet known whether he has replaced anyone.