Wachovia Securities Financial Network to help bankroll WAI's work for RIAs. Wachovia Securities Financial Network (WSFN), Wachovia's registered investment advisor service agency, has become a sponsor of the Wealth Advisor Institute (WAI), an industry association for fee-based advisors and other wealth-management professionals.

"We are proud to be a founding corporate sponsor of the Wealth Advisor Institute and to help the institute in achieving its goal of providing financial advisors and allied professionals with the knowledge, skills, and support they need to excel as wealth advisors," says WSFN's president John Peluso.

Sugar daddy

Keith Gregg, WAI's chairman, says the association is "delighted to have Wachovia Securities Financial Network as a partner sharing in WAI's vision."

Gregg is also head of sales at Dunham & Associates, a San Diego-based fund sub-advisory. He used to be head of sales at WSFN.

WAI's "vision" comes down to promoting "advisor advocacy, professional development, ethical conduct, and meaningful training and education among financial professionals," says a WAI press release.

WSFN will provide WAI funding to help develop the association's services and programs, bolster recruitment and research, and keep day-to-day operations going. In return, WSFN will get a voting seat on WAI's advisory board and 25 annual memberships for its employees and associates.

WAI, which is based in Washington, D.C., was launched in June 2006. -FWR

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