National Planning takes on 65 reps and $750M from Main Street
National Planning Corp. Inc. is scooping up the reps and assets of Main Street Securities LLC, which is closing down its broker-dealer operations to join NPC.
National Planning Corp. Inc. is scooping up the reps and assets of Main Street Securities LLC, which is closing down its broker-dealer operations to join NPC.
Main Street has 65 reps who manage $750 million, according to a statement put out today by NPC. (Click here to see a full profile of the business operations of NPC, the eight largest independent broker-dealer.)
NPC will provide Main Street reps and advisers with broker-dealer services and access to investment products.
Main Street, which is based in Hays, Kan., was founded in 1999 and specializes in variable and indexed annuities, along with insurance.
Terms of the deal were not disclosed.
Learn more about reprints and licensing for this article.
