On Monday, American International Group (NYSE:AIG) announced  that it has acquired Woodbury Financial Services from The Hartford Financial Services Group (NYSE:HIG), completing an acquisition agreement signed on July 31, and a deal valued at the time at $115 million, including a special $25 million dividend  paid by Woodbury to Hartford pre-sale.

Henceforth, Woodbury's 1,400 advisors and $25 billion in assets under management (AUM) will be part of AIG Life and Retirement's Advisor Group. Including current businesses FSC Securities Corporation, Royal Alliance Associates and SagePoint Financial, the Advisor Group now boasts 6,000 financial advisors and $125 billion AUM.

AIG shares are up 0.9% on the news; Hartford shares are up 0.1%.

 
 

Fool contributor Rich Smith has no positions in the stocks mentioned above. The Motley Fool owns shares of and has long JAN 2014 $25.00 calls on AIG. Motley Fool newsletter services recommend American International Group. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.