National Planning loses $420 million indie to FSC

Financial Independence in Bloomfield Hills, Mich., manages retirement plans.
MAY 11, 2017

Financial Independence, an independent advisory firm managing $420 million in assets, has changed its affiliation from National Planning Corp. to the FSC Securities subsidiary of the Advisor Group, Inc. The advisory firm, which is based in Bloomfield Hills, Mich., operates primarily in Southeast Michigan and serves individuals as well as some 100 small-company 401(k) plans, with 4,500 participants. It is headed by co-founders Steven Case and William Kumm. Mr. Case began his securities career in 1989. After several years at a variety of firms, he joined ING Financial Partners in 1998, where he spent four years. He moved to National Planning in 2004. Mr. Kumm started his career in 1987 and joined ING Financial Partners with Mr. Case in 1998, moving with him to National Planning in 2004.

Latest News

FiNet, Raymond James land California and Washington advisor teams
FiNet, Raymond James land California and Washington advisor teams

Three advisor groups overseeing more than $700M in combined client assets head to new firms.

Retirement crisis fears hit record high as debt and inflation squeeze Americans
Retirement crisis fears hit record high as debt and inflation squeeze Americans

New research finds most Americans fear a US retirement crisis, while skepticism grows toward AI financial advice and crypto in retirement plans.

Easy to buy, harder to exit: The liquidity risk hidden inside ETFs
Easy to buy, harder to exit: The liquidity risk hidden inside ETFs

Getting a client into a fund has never been easier – but after that, the hardest part is yet to come.

FINRA bars NYLIFE rep who used smart glasses to cheat on Series 6
FINRA bars NYLIFE rep who used smart glasses to cheat on Series 6

A former NYLIFE Securities rep was permanently barred after using internet-enabled glasses to cheat on the Series 6 exam

Vanguard settled Just Invest lawsuit weeks before Altruist deal
Vanguard settled Just Invest lawsuit weeks before Altruist deal

Both of Vanguard's acquisitions have targeted the RIA industry, but the first ended in a legal settlement just weeks before buying Altruist.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income