A large broker-dealer network is experiencing a changing of the guard.
National Planning Holdings Inc., Santa Monica, Calif., a financial services distribution arm of Jackson National Life Insurance Company, Lansing, Mich., says Shawn Dreffein is retiring as chief executive officer of the NPH network and as president of the NPH National Planning Corp. subsidiary.
Scott Romine will be succeeding Dreffein as president of National Planning Corp., and NPH has started a national search to identify candidates for the NPH CEO position, NPH says.
Dreffein, 51, has been with National Planning Corp. since 1998, and she is now retiring to give more time to Democratic Party politics and other civic activities, NPH says.
Dreffein will stay with NPH while NPH is looking for a new CEO, NPH says.
Romine, Dreffein’s successor at National Planning Corp., has been a senior vice president at the regional broker-dealer channel at Jackson National.
The NPH network generated $493 million in revenue in 2006 on $12 billion in financial services sales, NPH says.
In addition to National Planning Corp., the NPH network includes INVEST Financial Corp., Investment Centers of America Inc. and SII Investments Inc.
Jackson National, the parent company of NPH, is a unit of Prudential P.L.C., London.