The 15th largest independent broker-dealer in the country, National Planning Holdings, continues to grow in size.
National Planning, a network of four independent broker-dealers, brought in $10.4 billion in gross product sales during the first half of 2013, an increase of more than 25% over the same period last year, the company announced Monday.
The jump produced $470 million in revenue through June 30 -- up from $411.5 million in revenue from $8.2 billion in sales in the first half of 2012, according to a statement released by National Plannings sister company, Jackson National Life Insurance. National Planning and Jackson are both owned by United Kingdom-based Prudential plc.
Income in the B-D network accounted for more than half of the giant insurance concerns overall $924.6 million in revenue in this period, the company reported.
At the same time, Jackson's asset management subsidiary, Curian Capital, reported a roughly 10% increase in assets under management over the last six months; AUM in its core business rose to $9.8 billion from $8.9 billion at year-end 2012.
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