Phoenix-based AIG Financial Advisors said it is rebrandingitself as SagePoint Financial Inc. as the company prepares itselfto be sold from its parent company, American InternationalGroup.

A company spokesperson, Linda Skolnick, denied that the actionwas taken because the subsidiary was unhappy about name linkage toits financially troubled parent.

“Our move to rename AIGFA evolved out of AIG's decision lastfall to divest businesses outside of its core property and casualtyinsurance operations, including our broker-dealer organization,”said a memo from Larry Roth, president and chief executive of AIGAdvisor Group, which includes AIGFA.

“He added that a name change would be inevitable under newownership, and “it simply made good sense to begin building a newidentity as soon as possible.” Mr. Roth also said rebranding now“best ensures that we retain maximum value for AIGFA as thedivestiture process moves forward.”

While the letter states that a name change “will be a positiveevent for AIGFA's advisors and their clients,” Ms. Skolnick, seniorpublic relations associate, AIG Retirement Service Inc., said theidea that AIGFA pursued a name change because of displeasure overits association with the AIG brand should not be considered as areason for the rebranding.

Mr. Roth's letter said the name SagePoint Financial was chosenbecause it “represents brand attributes that underscore our coreoperating philosophy–informed advice, wise counsel and strongrelationships.”

AIG previously changed the name of its auto insurance businessfrom Aigdirect.com to 21st Century. The 21st Century business unitis also slated to be sold, according to AIG spokesman JoeNorton.

Mr. Norton said 21st Century and AIGFA are the only two AIGcompanies that have rebranded, besides companies that have alreadybeen sold.

AIG Financial Advisors is part of AIG Retirement Service and isnot the same as AIG Financial Products.