Main Street Securities L.L.C. has picked National Planning Corp. Inc. to provide broker-dealer support services and securities investment products.
Main Street, Hays, Kan., has 65 registered representatives in 30 offices around the United States, and it manages about $750 million in assets.
The Main Street reps will join National Planning, and Main Street will discontinue its broker-dealer operations, according to National Planning, Santa Monica, Calif.
National Planning is a unit of Jackson National Life Insurance Company, Lansing, Mich., which is, in turn, a unit of Prudential P.L.C., London.
Bobb Meckenstock founded Main Street Securities with his brother, Dave Meckenstock, in 1999.
The firm sells life insurance along with variable and indexed annuities.
Meckenstock will continue to add some experienced independent financial advisors and open new offices, National Planning says.
Meckenstock has qualified as a member of the Top of the Table at the Million Dollar Round Table, Park Ridge, Ill., for 27 years, and he was chairman of the Top of the Table in 1991.