<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
- ----------------------
SCHEDULE 13G
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)
The Advest Group, Inc.
(Name of Issuer)
Common Stock, par value $.01 per share
(Title of Class of Securities)
007566102
(CUSIP Number)
- -----------------
Check the following box if a fee is being paid with this
statement /____/. (A fee is not required only if the filing
person: (1) has a previous statement on file reporting beneficial
ownership of more than five percent of the class of securities
described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of
such class.) (See Rule 12d-7.)
Page 1 of 5 Pages
<PAGE>
CUSIP No. 007566102 13G Page 2 of 5 Pages
1. NAME OF REPORTING PERSON
SS OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Advest, Inc. as fiduciary under The Advest Thrift Plan
06-0950348
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /____/
(b) /____/
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware, United States of America
5. SOLE VOTING POWER -0-
6. SHARED VOTING POWER -0-
7. SOLE DISPOSITIVE POWER -0-
8. SHARED DISPOSITIVE POWER
726,608 (See response to Item 6)
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
726,608 (See response to Item 6)
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES /_____/
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.12%
12. TYPE OF REPORTING PERSON EP
<PAGE>
Page 3 of 5 Pages
Item 1(a). NAME OF ISSUER:
The Advest Group, Inc.
Item 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICE:
One Commercial Plaza
Hartford, CT 06103
Item 2(a). NAME OF PERSON FILING:
Advest, Inc. as fiduciary under The Advest Thrift Plan
Item 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE, OR,
IF NONE, RESIDENCE:
One Commercial Plaza
Hartford, CT 06103
Item 2(c). CITIZENSHIP:
State of Delaware, United States of America
Item 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock, One cent par value
Item 2(e). CUSIP NUMBER:
007566102
Item 3. PERSON FILING
Person Filing is an Employee Benefit Plan, which is subject to
the provisions of the Employee Retirement Income Security Act of
1974.
Item 4. OWNERSHIP:
(a) Amount beneficially owned as of December 31, 1993:
726,608 (See response to Item 6)
(b) Percent of Class: 8.12%
<PAGE>
Page 4 of 5
(c) Number of Shares as to which such person has:
(i) sole power to vote or to direct the vote:
-0-
(ii) shared power to dispose or to direct the disposition of:
-0-
(iii) sole power to dispose or to direct the disposition of:
-0-
(iv) shared power to dispose or to direct the disposition of:
726,608 (See response to Item 6)
Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
Not Applicable
Item 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF
OF ANOTHER PERSON:
All shares reported above are held by Advest, Inc., as fiduciary
under The Advest Thrift Plan (the "ATP"). Of such shares: (a)
722,408 shares are held in participant ESOP Accounts under the
ATP; (b) 17,083 shares are held in participants self-directed
401(k) Accounts under the ATP; and (c) 4,200 represent shares
receivable upon conversion (at a conversion price of $13.57 per
share) of an aggregate of $57,000 principal amount of The Advest
Group, Inc. 9% Convertible Subordinated Debentures (the "CSDs")
held in participant's self-directed 401(k) Accounts under the
ATP.
Under the provisions of the ATP, participants in such plan have
the right to direct the vote of all of the shares reported above
(other than those receivable upon conversion of the CSDs"). The
shares reported above as held in participant's self-directed
401(k) Accounts may be disposed of from time-to-time at the
direction of the beneficial holder. Power to dispose or to
direct the disposition of the shares reported above as held in
participant's ESOP accounts is subject to substantial
restrictions imposed by the ATP.
Item 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY
WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE
PARENT HOLDING COMPANY:
Not Applicable
<PAGE>
Page 5 of 5
Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF
THE GROUP:
Not Applicable
Item 9. NOTICE OF DISSOLUTION OF GROUP:
Not Applicable
Item 10. CERTIFICATION:
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having
such purposes or effect.
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
Dated: February 11, 1994
ADVEST, INC., as fiduciary for the
ADVEST THRIFT PLAN
By: _DAVID A. HOROWITZ__________________
(David A. Horowitz)
Assistant Secretary
