Advisers on the Move

Two more NPH firms spurn LPL, affiliate with Woodbury Financial

A $2 billion OSJ at SII and a $347 million firm at NPC depart for Woodbury Financial, a unit of the Advisor Group

Nov 1, 2017 @ 2:54 pm

By InvestmentNews

Two firms affiliated with National Planning Holdings have changed their affiliation to Woodbury Financial Services, a unit of the Advisor Group.

The Tenacity Advisory Group, a 52-adviser Super OSJ managing $2 billion in assets, has changed its affiliation from NPH unit SII Investments.

The Tenacity Advisory Group, founded in 2010 and led by Mike Savolt, is based in Green Bay, Wis. As an office of supervisory jurisdiction, it oversees advisers operating from 30 offices in Wisconsin, Michigan, Ohio and Nebraska, and provides accounting, payroll, retirement planning and tax services, as well as insurance.

Separately, Paragon Financial Group, whose affiliated brokers manage $347 million in assets, has switched affiliation from National Planning Corp., also a unit of NPH, to Woodbury. Paragon is based in Gilbert, Ariz., and was established in 1999 by Frank Brown.

In the wake of LPL Financial's $325 million acquisition of National Planning Holdings in August, a number of NPH's 3,200 affiliated advisers, including those at Feucht Financial, Paris International and Benson Financial, have changed affiliations.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

INTV

Why broker-dealers are on a roll

Deputy editor Bob Hordt and senior columnist Bruce Kelly discuss last year's bounce-back for IBDs.

Latest news & opinion

UBS continues to cut loans to recruits, while increasing compensation to brokers

The wirehouse reduced recruitment loans 20% and increased bonus loans 68% in the first quarter.

Things are looking up: IBDs soared in 2017

With revenue up, interest rates rising and regulation easing, IBDs are soaring.

SEC advice rule may give RIAs leg up over broker-dealers

Experts say advisers will be able to point to their role as fiduciaries as a differentiator in the advice market.

Brokers accept proposed SEC rule on who can call themselves an adviser

Some say the rule will clear up investor confusion, but others say the SEC didn't go far enough.

SEC advice rule: Here's what you need to know

We sifted through the nearly 1,000-page proposal and picked out some of the most important points.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print