SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): March 2, 2000
THE ADVEST GROUP, INC.
(Exact name of Registrant as specified in its charter)
Delaware 1-8408 06-0950444
(State or other juris- (Commission (IRS
employer
diction of incorporation) file number)
identification no.)
90 State House Square, Hartford CT 06103
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (860) 509-1000
No change
(Former name or former address, if changed since last report)
Page 1 of 5 pages
Exhibit Index on Page 3
Item 5. Other Events.
On March 2, 2000 the Registrant issued a News Release announcing the
appointment of Peter R. Kellogg to its Board of Directors and the declaration
of a quarterly dividend of $.06 per share, an increase from $.05 per share in
prior quarters.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits:
Number Exhibit Page No.
99 News Release dated March 2, 2000 concerning
Appointment of a Director and Increase in Dividend 4
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
THE ADVEST GROUP, INC.
Date: March 2, 2000 By: /s/ GRANT W. KURTZ
Grant W. Kurtz
President and
Chief Executive Officer
Page 2
EXHIBIT INDEX
Number Exhibit Page No.
99 News Release dated March 2, 2000 concerning
Appointment of a Director and Increase in Dividend 4
Page 3
Exhibit 99
Advest
News Release
For Immediate Release
Contact: Grant Kurtz, President and Chief Executive Officer
Martin Lilienthal, Executive Vice President and Chief Financial
Officer
(860) 509-1000
The Advest Group, Inc. Announces
Director Appointment and
Increased Cash Dividend
Hartford, CT, March 2, 2000 -- The Advest Group, Inc. (NYSE: ADV) today
announced the appointment of Peter R. Kellogg to its Board of Directors.
Mr. Kellogg has worked for over 30 years in the stock brokerage business
and has served as Chief Executive Officer and Senior Managing Director of
Spear, Leeds & Kellogg, for over 20 years. Spear, Leeds & Kellogg is a New
York-based securities brokerage firm, and is a leading specialist firm on the
New York and other exchanges and a leading market-maker. Mr. Kellogg also
serves on the Boards of Directors of McM Corporation and the Ziegler
Companies.
"Peter Kellogg brings an exceptionally strong background and depth of
experience in the securities industry to our Board" said Grant Kurtz,
President and Chief Executive Officer of The Advest Group, Inc. "We believe
that he will make a substantial contribution to our company."
Mr. Kellogg is the direct or indirect beneficial owner of a total of
1,564,500 shares of The Advest Group, Inc. common stock. In filings under
the Securities Exchange Act of 1934 he has disclaimed beneficial ownership of
certain of those shares held indirectly.
Page 4
The Advest Group, Inc. today also announced that its Board of Directors
has declared a quarterly dividend of $.06 per share, an increase from $.05 per
share in prior quarters. The dividend is payable on April 17, 2000 to
shareholders of record on March 31, 2000. "This increase in the dividend
rate," said Mr. Kurtz, "reflects the continuing strength of our firm and our
confidence in the future."
The Advest Group, Inc. is a diversified financial services company
which, through its principal subsidiary, Advest, Inc., provides brokerage,
investment banking and asset management services to retail and institutional
investors through 91 sales offices in 16 states and Washington, DC. Advest
Bank and Trust is a subsidiary of The Advest Group, Inc. and provides trust
and custody services primarily through Advest, Inc.'s branch network. For
more information, please visit our Internet site at www.advest.com.
Page 5
