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Distributor Starts Protection Arm

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NEXT Financial Group Inc. has set up a NEXT Financial Insurance Services unit.

NEXT, Houston, a marketing organization founded in 1999 and controlled by about 1,000 affiliated registered representatives, is forming the new arm to give affiliated financial professionals access to fixed life insurance products, fixed annuities, disability insurance and long term care insurance products, the company says.

Mike Mulvihill, NEXT vice president of sales and product management, will lead the new unit, NEXT says.

NEXT reps can work with a list of recommended field marketing organizations to place their business and reap the benefits of competitive commission structures, the company says.

NEXT held its first insurance forum in Memphis, Tenn., in December 2007 and plans to hold a number of other insurance forums in 2008 and 2009, the company says.