EL SEGUNDO, Calif. – July 28, 2016 – National Planning Holdings®, Inc. (NPH) today announced Scott Romine has assumed the role of president and chief executive officer, effective August 1. In this position, he will be responsible for the strategy and direction of the nation's fourth-largest independent broker-dealer network1, which includes INVEST Financial Corporation (INVEST), Investment Centers of America, Inc. (ICA), National Planning Corporation® (NPC®) and SII Investments, Inc.® (SII).
Romine will be based in Nashville and succeeds Greg Cicotte, who will concentrate on his role as executive vice president and chief distribution officer of Jackson National Life Insurance Company® (Jackson®), with responsibility for overall product distribution, strategy and execution across Jackson and its subsidiaries and U.S. affiliates, including NPH.
"Scott's indelible track record of success and expertise in the broker-dealer space makes him the ideal leader to focus on the critical task of preparing NPH to respond to the many DOL reform mandates and transforming NPH to become the best, highest-quality broker-dealer network in the industry," said Cicotte. "I've been very proud of the significant progress NPH has made in restructuring the business to comply with a post-DOL world and Scott has a solid foundation on which to build."
Romine brings more than 24 years of industry experience to his new position and will be returning to the NPH network where he served as president of NPC from 2007 to 2010, leading it to one of the fastest-growing broker-dealers in the industry. He most recently served as president of Jackson National Life Distributors (JNLD), the distribution and marketing arm of Jackson. Prior to this role, Romine held the position of JNLD executive vice president and national sales manager.
"I firmly believe Scott at the helm of NPH is an expression of confidence in our vision for the future and in the ability of this leadership team to achieve that vision in a continually changing environment," said Cicotte. "As part of his mandate, Scott will strategically advance our Growth Initiatives focusing on technology, practice management, turnkey wealth management and other key areas of advisor support, which are increasingly vital as advisors seek to align their businesses with a strong broker-dealer partner focused on helping them effectively navigate heightened regulatory complexities."
The member firms of the NPH network support nearly 3,500 advisors across the country by providing them with a comprehensive spectrum of back- and middle-office services and support. For more information about the four independent broker-dealers in the NPH network, visit:
1 Southwood, D. and Zhu, E. (2015). How the Biggest Independent Broker-Dealer Networks Stack Up: Ranking Five Big IBD Networks by Reps and Revenue. InvestmentNews. May 2015.
About National Planning Holdings, Inc.
National Planning Holdings, Inc. (NPH) is a broker-dealer holding company and an affiliate of Lansing, Mich.-based Jackson National Life Insurance Company® (Jackson®). NPH serves as the holding company for the independent broker-dealers INVEST Financial Corporation, Investment Centers of America, Inc., National Planning Corporation and SII Investments, Inc. Collectively, the NPH broker-dealer network currently has 3,428 registered representatives (as of December 31, 2015). NPH and Jackson are wholly owned by Prudential plc (NYSE: PUK), a company incorporated in England and Wales. Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.
This press release may contain certain statements that constitute "forward-looking statements." Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements which are other than statements of historical facts. However, as with any projection or forecast, forward-looking statements are inherently susceptible to a number of risks and uncertainties and actual results and events could differ materially from those currently being anticipated as reflected in such forward-looking statements. There can be no assurance that management's expectations, beliefs or projections will result or be achieved or accomplished. Any forward-looking statements reflect NPH's views and assumptions as of the date of this press release and NPH disclaims any obligation to update forward-looking information.