EL SEGUNDO, Calif.--(BUSINESS WIRE)--National Planning Holdings®, Inc. (NPH), the nation’s fourth-largest independent broker-dealer network1, today announced full-year 2016 revenue of $909.4 million and gross product sales of $19.4 billion.
Scott Romine, president and chief executive officer of NPH, said the company’s unique shared services model continues to strengthen its financial performance, and investments designed to further bolster technology and service offerings reinforce the firm’s commitment to best serve advisors and their clients.
“Our full-year 2016 results clearly demonstrate the power of NPH’s business model, which focuses on optimizing our resources, processes and service offerings at the network level while thoughtfully maintaining the culture and personality that makes each of our broker-dealers a truly distinctive community for the advisors they serve,” said Romine. “Our commitment to creating an exceptional client experience was the driving force behind the numerous service and platform enhancements we delivered in 2016. Collectively, these enhancements have elevated NPH's leadership position in the independent retail financial advice space."
Operational highlights for NPH in 2016 include:
- Advisory Platform Enhancements: NPH initiated a broad-reaching effort to leverage its people, technology and solutions to re-engineer its flagship WealthONE® fee-based advisory platform as a single, fully-integrated resource to help advisors prepare more effectively for regulatory shifts and enable them to offer a wider range of product offerings at a reduced cost for clients.
- Launch of Technology Solutions Team: In June, NPH introduced the Technology Solutions Team, making it the first broker-dealer network to offer advisors in person access to dedicated technology specialists at no cost. The team conducted almost 1,000 meetings and spent over 2,000 hours in field offices training advisors and their staff on ways to optimize technology platforms to best support their clients.
- Practice Management Expansion: NPH enhanced and centralized its advisor-centric practice management resources, the Advisor Growth Team, to provide more extensive, personalized practice management support uniquely tailored to each advisor’s business.
Romine concluded, “As we look ahead to the remainder of 2017 and beyond, we intend to further enhance our service offerings to meet our advisors’ needs and those of their clients, particularly with respect to operating a financial planning-driven business in a fiduciary context. By strategically investing in platforms and tools that directly support our ability to drive innovative solutions, we can most effectively help our advisors and institutions obtain and serve clients.”
For more information about the four independent broker-dealers in the NPH network, please visit: nationalplanningholdings.com.
About National Planning Holdings, Inc.
National Planning Holdings, Inc. (NPH) is a broker-dealer holding company and an affiliate of Lansing, Mich.-based Jackson National Life Insurance Company® (Jackson®). NPH serves as the holding company for the independent broker-dealers INVEST Financial Corporation, Investment Centers of America, Inc., National Planning Corporation and SII Investments, Inc. Collectively, the NPH broker-dealer network currently has 3,307 registered representatives (as of December 31, 2016). NPH and Jackson are wholly owned by Prudential plc (NYSE: PUK), a company incorporated in England and Wales. Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.
This press release may contain certain statements that constitute “forward-looking statements.” Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements which are other than statements of historical facts. However, as with any projection or forecast, forward-looking statements are inherently susceptible to a number of risks and uncertainties and actual results and events could differ materially from those currently being anticipated as reflected in such forward-looking statements. There can be no assurance that management’s expectations, beliefs or projections will result or be achieved or accomplished. Any forward-looking statements reflect NPH’s views and assumptions as of the date of this press release and NPH disclaims any obligation to update forward-looking information.
1Southwood, D. and Zhu, E. (2015). How the Biggest Independent Broker-Dealer Networks Stack Up: Ranking Five Big IBD Networks by Reps and Revenue. InvestmentNews. May 2015.