National Planning Holdings said Friday that it has upgraded the fee-based advisory platform used by about 3,500 affiliated independent registered representatives. Several enhancements are being delivered in December and over the next year or so, including investment strategies offered by BlackRock and American Funds, as well as Unified Managed Accounts.
“The coming years are going to be a time of significant change in the retail financial advice industry, and we are committed to investing in the tools, processes and resources that will help advisors meet the needs of their clients,” said Scott Romine, president & CEO of NPH, in a statement. “In that spirit, we are confident that the series of service and operational enhancements we have begun to introduce today will make our advisory platform one of the best in the business.”
To help lead this effort, NPH hired Tim Munsie as its new vice president of advisory platform strategy; it also boosted the number of advisory consultants by 50% and based them in the home territories of their assigned advisors.
National Planning Holdings is the parent firm of independent broker-dealers INVEST Financial Corp., Investment Centers of America, National Planning Corp. and SII Investments. NPH is affiliated with Jackson National Life Insurance Co.; both entities are owned by Prudential of the United Kingdom.
“We are excited to work with NPH and launch our series of BlackRock Managed Portfolio Strategies on NPH’s state-of-the-art WealthONE platform,” said Greg Weiss, head of BlackRock’s managed accounts business, in a statement. “Our asset allocation and goals-based strategies represent the next frontier for managed accounts to help advisors scale their practice and focus on holistic wealth management… It’s a win-win.”