National Planning Holdings’ revenue fell 15% in the first quarter

National Planning Holdings Inc., the Santa Monica, Calif. independent broker-dealer network, saw its revenue slip 15% during the first quarter, to $136 million from $159.9 million a year earlier.
MAY 18, 2009
National Planning Holdings Inc., the Santa Monica, Calif. independent broker-dealer network, saw its revenue slip 15% during the first quarter, to $136 million from $159.9 million a year earlier. Sales also fell at National Planning Holdings, the broker-dealer network of Jackson National Life Insurance Co. of Lansing, Mich., to $3.423 billion, a 5.4% decline from a year earlier. Quarter-over-quarter, however, the results appeared rosier, with revenue climbing 0.4% from the fourth quarter and sales down just 3.4%. Meanwhile, National Planning Holdings was able to increase its ranks of registered representatives: It had 3,456 reps during the first quarter, up 9.1% from the fourth quarter. Since the first quarter of 2008, the network had added 400 affiliates to its roster of reps. National Planning and Jackson’s parent company, Prudential PLC of London, will release the firms’ earnings in August

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