Two more NPH firms spurn LPL, affiliate with Woodbury Financial

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.