National Planning, one of the largest independent broker-dealer networks, said it booked revenue of more than $510 million during the first nine months of 2010, a 15.7% increase in year-over-year comparisons. And during that time, it generated total sales of more than $10.5 billion, a .9% increase over the prior year period.
“Our focus on sustainable growth has allowed NPH to achieve solid results throughout the volatility of the last business cycle,” said Jim Livingston, president and CEO of National Planning Holdings, in a press release. “Advisors recognize the consistency of our approach in the areas of representative support and technology development, and they see NPH as a key to continued success in their business. Being responsive to our representatives’ needs has always been—and will remain—our primary objective and a fundamental part of our growth strategy.”
While the company’s number of brokers fell slightly to 3,425 from 3,510, the network’s year-over-year average productivity is up nearly 21%. That rise in productivity was due partly to an increase in fee-based revenue among advisors, the company said.
Third quarter revenue was $167 million, up 7.1% from the same quarter last year, while sales declined 6.3% to nearly $3.4 billion.
National Planning Holdings, an affiliate of Jackson National Life Insurance Co., placed number 14 on Financial Planning magazine’s annual ranking of the 50 largest independent broker-dealer. It operates through four separate companies: INVEST Financial Corp.; Investment Centers of America Inc.; National Planning Corp.; and SII Investments Inc.