NEXT Financial Group Inc.
A subsidiary of NEXT Financial Holdings Inc.
Clearing firm: Pershing LLC
No. advisers: 539
No. franchises: 111
Year founded: 1999
Year end: Dec. 31
Recruitment & Staffing
| 2017 | 2016 | 2015 | |
|---|---|---|---|
| No. of reps | 539 | 619 | 674 |
| No. of producing reps | — | 619 | 674 |
| No. of reps producing $100K-$499K /year | — | 281 | 301 |
| 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 rep | 0 | $23,195,990 | $22,930,668 |
| 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 | — | ||
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.
Purchase the complete set of our independent broker-dealer data and profiles in an Excel spreadsheet.
For comments or suggestions about the Adviser Center, please contact us.
Disclaimer: All data and information is the property of InvestmentNews and is protected by copyright and other intellectual property laws. All rights are reserved by InvestmentNews. The data may only be used for internal business use such as to develop a mailing list but the data may not be resold, republished, redistributed, sublicensed or publicly displayed on a web site without the permission of InvestmentNews. All information contained within was obtained through InvestmentNews' annual independent B-D surveys.
Featured video
Regulators' gloves are coming off with cybersecurity. Put up your dukes with these tips
Updated guidelines and some of the first-ever rule enforcements signal that regulators are getting serious about holding firms accountable for data breaches, according to special projects editor Liz Skinner and technology reporter Ryan Neal.
Latest news & opinion
Blackrock exposed data on 12,000 financial advisers
The data appeared in three spreadsheets, linked on one of the New York-based company's web pages dedicated to its iShares exchange-traded funds
Advisers throw cold water on FIRE movement
Millennials love it, advisers don't: Turns out, extreme early retirement is a suitable goal for almost nobody.
10 universities with the most billionaire alumni
These 10 American schools have the greatest number of alumni who are billionaires.
Top-performing ETFs of 2018
The markets took a beating last year, but these exchange-traded funds bucked the trend
Morningstar says investors rushed the exits in 2018
Net flows into mutual funds and ETFs were the lowest since the 2008 financial crisis, while money-market funds captured inflows.
