National Planning grabs 65 reps and $750M from Main Street

National Planning Corp. is scooping up the representatives and assets of Main Street Securities LLC, which is closing down its broker-dealer operations to join NPC.
NOV 22, 2009
National Planning Corp. is scooping up the representatives and assets of Main Street Securities LLC, which is closing down its broker-dealer operations to join NPC. Main Street has 65 reps who manage $750 million, according to a statement put out last week by NPC. NPC will provide Main Street reps and advisers with broker-dealer services and access to investment products. Main Street, which is based in Hays, Kan., was founded in 1999 and specializes in variable and indexed annuities, along with insurance. Terms of the deal were not disclosed. E-mail Bruce Kelly at [email protected].

Latest News

UBS sees a net loss of 111 financial advisors in the Americas during the second quarter
UBS sees a net loss of 111 financial advisors in the Americas during the second quarter

Some in the industry say that more UBS financial advisors this year will be heading for the exits.

JPMorgan reopens fight with fintechs, crypto over fees for customer data
JPMorgan reopens fight with fintechs, crypto over fees for customer data

The Wall Street giant has blasted data middlemen as digital freeloaders, but tech firms and consumer advocates are pushing back.

The average retiree is facing $173K in health care costs, Fidelity says
The average retiree is facing $173K in health care costs, Fidelity says

Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.

Advisor moves: NY-based Coastline wealth adds three teams with over $430M in assets
Advisor moves: NY-based Coastline wealth adds three teams with over $430M in assets

Raymond James also lured another ex-Edward Jones advisor in South Carolina, while LPL welcomed a mother-and-son team from Edward Jones and Thrivent.

Gen Z is grappling with a financial balancing act, new report reveals
Gen Z is grappling with a financial balancing act, new report reveals

Rising costs, low wages are making it hard for young Americans to move ahead

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.