National Planning loses $420 million indie to FSC

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.