National Planning Holdings said early Tuesday that it had tapped Jim Komoszewski to lead Investment Centers of America (ICA), one of the network’s four broker-dealers. Komoszewski is replacing Greg Gunderson, who is retiring after more than 22 years with the firm, as president and CEO.
Most recently, Komoszewski served as head of business development and practice management for NPH. Earlier, he had been senior vice president of practice management and relationship management for ICA. He now reports to NPH President and CEO Greg Cicotte.
“Komoszewski is a recognized pioneer, leader and innovator in the practice management field,” said Cicotte in a statement. “Under his leadership, NPH has created innovative practice management programs to help support and grow our advisors’ businesses with strong success.”
NPH is affiliated with Lansing, Michigan-based Jackson National Life Insurance Co. and serves as the holding company for ICA, INVEST Financial, National Planning Corp. and SII Investments. The NPH IBD network includes some 3,400 registered representatives. (Both NPH and Jackson are owned by Prudential PLC, which is not affiliated with Prudential Financial.)
NPH’s promotion of “a top executive with deep practice management roots into ICA’s top job is a clear directional statement not only to the firm’s advisors but the entire industry,” said industry consultant Jeff Nash in a statement.
“I wouldn’t be surprised to see this move as part of a broader renewed focus on practice management at NPH, which would be a step in the right direction for them in terms of showing how they can be a stand-alone IBD network in their own right, regardless of their affiliation with the Jackson National insurance company,” Nash said.
For his part, Komoszewski is “very excited about returning to ICA … The incredibly close and collegial culture of the firm, combined with its rigorous emphasis on practice management, a longstanding passion of mine, makes this role a perfect fit.”
According to Investment Advisor’s 2015 Broker-Dealer Reference Guide, National Planning Corp. had total revenue of $409 million in 2014 and 1,335 reps, while INVEST Financial had sales of $283 million and 1,134 reps, followed by SII at $193 million.
In terms of average fees and commissions per rep, SII reported production of $282,000 in 2014; ICA came in at $272,000 and NPC at $257,000.