NEXT Financial Group Inc.

NEXT Financial Group Inc.

A subsidiary of NEXT Financial Holdings Inc.

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2500 Wilcrest Drive

Houston, TX 77042

(877) 876-6398

www.nextfinancial.com

Clearing firm: Pershing LLC

No. advisers: 539

No. franchises: 111

Year founded: 1999

Year end: Dec. 31

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Subscribe or log in to the B-D Data Center for access to all available data.

Additional data available to subscribers:
  • No. of reps, male
  • No. of reps, female
  • No. of producing reps, male
  • No. of producing reps, female
  • No. of reps producing $500K+ /year
  • No. of CFPs
  • No. of full-time employees
  • No. of fee-based advisers served
  • Average payout per rep, per year
  • Avg. annual production of top 20% reps
  • Total payout, per year
  • Cost of E&O insurance per rep, per year
  • Affiliation fees charged per rep, per year
  • Affiliation fee coverage
  • Securities revenues
  • Securities revenues: Stocks
  • Securities revenues: Bonds
  • Securities revenues: ETFs
  • Securities revenues: Other
  • Mutual fund revenues
  • Annuities revenues
  • Annuities revenues: Fixed
  • Annuities revenues: Variable
  • Annuities revenues: Other
  • Insurance revenue
  • Insurance revenues: Life
  • Insurance revenues: Disabilities
  • Insurance revenues: LTC
  • Insurance revenues: Other
  • Alternative revenues
  • Alternative revenues: Hedge funds
  • Alternative revenues: Managed futures
  • Alternative revenues: Private placements
  • Alternative revenues: REITs
  • Alternative revenues: Other
  • Other commission revenues
  • Fee revenues: Rep-managed accounts
  • Fee revenues: Firm-managed accounts
  • Fee revenues: Outside-managed accounts
  • Fee revenues: Other
  • Fee-based assets: Clearing firm
  • Fee-based assets: Advisory firm platforms
  • Fee-based assets: Third-party money managers
  • Fee-based assets: Other
  • Is the firm, or an affiliate of the firm, registered as an investment adviser with the SEC?
  • Allows an adviser to have his/her own RIA
  • RIA platform AUM
  • Offers robo-advisory platform?
  • If not, when plans to offer a robo-platform
  • Robo-advice services offered
  • How robo-platform developed
  • Charge for robo-advisory services?

For More Information

CEONorman Grant
Top ExecutiveBarry G. Knight
Recruiting ContactPeter Delehanty
(713) 375-2610
E-mail

Barry G. Knight
Compliance ContactLeslie Jallans
(713) 375-2553
E-mail
Marketing ContactPeter Delehanty
(713) 375-2610
E-mail
Technology Operations ContactChris Mueller
(713) 328-4949
E-mail

Recruitment & Staffing

2017 2016 2015
No. of reps539619674
No. of producing reps619674
No. of reps producing $100K-$499K /year281301

Payout grid is available to Data Center subscribers only.

Subscribe or log in to the B-D Data Center for access to all available data.

2017 2016 2015
Total revenues$107,787,124$123,469,149
Commission revenues$66,201,030$77,615,870
Fee revenues$36,965,116$40,921,301
Total revenues: Other$4,620,978$4,942,328
2017 2016 2015
Total account assets$14,358,317,515$15,455,269,921
Fee-based assets$3,606,461,090$3,831,414,337
Total account assets: Other$10,751,856,425$11,623,855,584
Average assets per rep0$23,195,990$22,930,668
Social Media & Mobile
Allows advisers to use social mediaY
Social media sites allowedFacebook
LinkedIn
Twitter
Dedicated mobile application for advisers?N
Primary purpose of mobile application

Next Financial latest broker-dealer to be purchased by Atria

January 8, 2019 - After being on the block for years, Next Financial Group Inc., an independent broker-dealer with close to 540 reps and advisers, said Tuesday it had agreed to be acquired by Atria Wealth Solutions, a hard-charging, private-equity-backed buyer of midsize...

Another LPL adviser sues Ohio National over variable annuity commissions

January 2, 2019 - Another LPL Financial adviser has sued Ohio National Life Insurance Co. and its subsidiaries for ceasing the payment of trail commissions on certain variable annuity policies, joining a chorus of other parties to have filed similar legal claims against...

UBS sues Ohio National over lost variable annuity commissions

December 17, 2018 - UBS has sued The Ohio National Life Insurance Co. and its subsidiaries for the insurer's new policy of ending adviser trail commissions on some variable annuity products. The wirehouse joins several other broker-dealers fighting the cessation of annual...

Former Next Financial broker settles charges he ran $3.9 million fraud

November 5, 2018 - The Securities and Exchange Commission said Friday that a former Next Financial Group Inc. broker has agreed to settle charges that he operated a $3.9 million fraud. The SEC had charged the broker, Douglas Simanski, with operating a long-running fraud....

CFP Board suspends Tye Williams after Finra bar

September 15, 2017 - The Certified Financial Planner Board of Standards has imposed an automatic interim suspension of Tye C. Williams' CFP certification following his consent to an industry bar from Finra. Mr. Williams, who was associated with Next Financial Group in Frisco,...

Top independent broker-dealers by revenue and payout

April 23, 2017 - Top 50 IBDs ranked by 2016 revenue Bubble view By group Table view Firm 2016 revenue ($M) % change vs. 2015 2016 commission revenue ($M) % change vs. 2015 2016 fee revenue ($M) % change vs. 2015 2016 other revenue ($M) % change vs. 2015 1 LPL Financial...

Advisers managing $463 million join Ameriprise ​

March 29, 2017 - A six-person advisory team managing $202 million in assets at Next Financial Group in Atlanta, and a two-person team in Saddle Brook, N.J., managing $261 million at UBS, have joined Ameriprise Financial. The Atlanta team, FMB Advisors, will be part of...

    Notes
  • N/A = Not available
  • N/D = Not disclosed
  • — = Information not available or not disclosed

All 2011-2016 recruitment and staffing data is as of Dec. 31 in the calendar year displayed. Prior year recruitment and staffing data is as of Sept. 30. All financial figures are for firms' year end, unless noted.

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