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: 509

No. franchises: 391

Year founded: 1999

Year end: Dec. 31

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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

Recruiting ContactPeter Delehanty
(713) 375-2610
E-mail
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

2018 2017 2016
No. of reps509539619
No. of producing reps619
No. of reps producing $100K-$499K /year281

Payout grid is available to Data Center subscribers only.

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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 rep0$23,195,990
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

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...

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,...

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...

    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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