NEXT Financial Group Inc.
A subsidiary of NEXT Financial Holdings Inc.
Clearing firm: Pershing LLC
No. advisers: 509
No. franchises: 391
Year founded: 1999
Year end: Dec. 31
Recruitment & Staffing
| 2018 | 2017 | 2016 | |
|---|---|---|---|
| No. of reps | 509 | 539 | 619 |
| No. of producing reps | — | — | 619 |
| No. of reps producing $100K-$499K /year | — | — | 281 |
| 2018 | 2017 | 2016 | |
|---|---|---|---|
| Total revenues | — | — | $107,787,124 |
| Commission revenues | — | — | $66,201,030 |
| Fee revenues | — | — | $36,965,116 |
| Total revenues: Other | — | — | $4,620,978 |
| 2018 | 2017 | 2016 | |
|---|---|---|---|
| Total account assets | — | — | $14,358,317,515 |
| Fee-based assets | — | — | $3,606,461,090 |
| Total account assets: Other | — | — | $10,751,856,425 |
| Average assets per rep | 0 | — | $23,195,990 |
| Social Media & Mobile | |||
| Allows advisers to use social media | Y | ||
| Social media sites allowed | Facebook | ||
| Dedicated mobile application for advisers? | N | ||
| Primary purpose of mobile application | — | ||
Cetera, other broker-dealers refuse to sign Ohio National contracts
February 15, 2019 - A handful of broker-dealers, including Cetera Financial Group and NEXT Financial Group, have rebuffed Ohio National Financial Services Inc. by refusing to sign new agreements with the insurer, the latest twist in an ongoing dispute over variable annuity...
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....
Next Financial whacked (once again) by Finra
December 7, 2017 - Next Financial Group Inc. is back in hot water with regulators and agreed on Tuesday to pay a $750,000 fine to Finra as part of settlement for a variety of violations, including the failure to catch a broker's excessive trading and poor supervision of...
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,...
- 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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