Citing enhanced technologies and retirement planning support for its advisors, National Planning Holdings announced first quarter sales and revenue gains of 15.7% and 8% respectively compared to a year earlier.
"As retirement planning becomes even more complex, this (retirement) support will be even more critical, as we seek to increase our presence across both the independent financial adviser and financial institutions marketplace,” says Jim Livingston, president and CEO of the broker dealer network.
NPH owns four broker-dealers, including Invest Financial Corporation, Investment Centers of America, National Planning Corporation and SII Investments Inc.
During the first three months of 2012, the NPH network brought in quarterly revenue of nearly $197 million on more than $4.2 billion in gross product sales. NPH also continued to grow the number of its representatives in the same period.
With the addition of 89 affiliated financial professionals, NPH now has 3,652 reps within the network – a 2.5% increase from the first quarter of 2011. NPH surpassed 3,600 affiliated representatives for the first time in company history during the first half of 2011, and has held steady for the past three quarters.
“NPH remains positioned for long-term growth, thanks to a sound business model and steadfast commitment to the independent broker-dealer space, as well as our strong relationships within the financial institution channel,” Livingston said in a statement. “Advisers see our network as a trusted and valuable ally, and rely on our product due diligence to help them meet their clients’ needs amid a volatile market environment.”