The National Planning Holdings Inc. broker-dealer network achieved quarterly revenue of nearly $197 million on quarterly gross product sales of more than $4.2 billion. First quarter 2012 sales and revenue saw 15.7 percent and 8 percent gains, respectively, from the fourth quarter of 2011.
NPH also added 89 affiliated financial professionals—a 2.5 percent increase from the first quarter of 2011—to its representative count for a total of 3,652 reps within the network.
The NPH network consists of INVEST Financial Corp., Investment Centers of America Inc., National Planning Corporation, and SII Investments Inc. Each company maintains its own culture and niche within the financial planning marketplace.
The broker-dealer network has implemented several enhancements to its service offerings in recent months – INVEST has signed contracts to provide brokerage and investment services for more than 10 new financial institutions, and has also expanded its practice management platform. NPC rebranded its practice management platform as the Pursuit program, offering customizable marketing materials, compliance support and expert guidance. NPC also expanded its recruiting staff with the addition of two new business development vice presidents.