National Planning Corp. Investment Attorney
We represent securities investors in their disputes with their investment advisors or brokerage firms, such as National Planning Corp. (National Planning). There are many different forms of securities related misconduct that our firm has successfully represented clients concerning including suitability, breach of fiduciary duty, and unauthorized trading. Our firm can analyze your securities and investment accounts and determine if and what type of misconduct occurred.
National Planning Corporation is part of National Planning Holdings, Inc. one of the nation's largest broker-dealer networks. National Planning was founded in 1998, and is headquartered in Santa Monica, California. NPC’s business model caters to the independent investment professional. The firm is also a registered investment adviser and is affiliated with Jackson National Life Insurance Company which the firm advertises as one of America’s leading retirement solution providers with.
National Planning Corporation is affiliated with, under common control, or otherwise performs business under the company names Jackson National Financial Services, Inc. and NPC of America.
National Planning – By the Numbers:
- CRD# 29604
- SEC# 8-44435
- 7 Regulatory Events
- 3 Customer Complaints
- Total Revenues: $346 million – 2012
- Total Account Assets: $36 billion - 2012
- Number of Retail Offices: 895
- Representatives: 1,454 - 2012
National Planning – In the News:
NASD v.National Planning Corporation, et al – The NASD announced a fine was imposed upon eight broker-dealers - including seven retail firms and one mutual fund distributor – of more than $7.75 million concerning allegations that the firms engaged in directed brokerage violations. National Planning’s fine amount was $1.3 million. The NASD alleged that the firms received payments for directed brokerage activities in exchange for preferential treatment for certain mutual fund companies. NASD's Anti-Reciprocal Rule prohibits firms from favoring the sale of shares of mutual funds on the basis of brokerage commissions received by the firm. The NASD’s rule prohibits a firm from establishing preferred lists of funds in exchange for receipt of directed brokerage.
Customer v. National Planning Corp. – National Planning Corp. was ordered to pay a $6.2 million arbitration award to two Minnesota investors in a dispute that focused on real estate investments. The investors alleged that NPC and a former broker, Christopher R. Olson, breached their fiduciary duty, were negligent, made misrepresentations and violated industry rules. The investor complaint involved real estate investment trusts (REITs) and other private real estate investments, in February 2012 and sought $12.5 million in compensatory damages. The investors “asserted that they also had to satisfy outstanding loan amounts on mortgages on the real estate investments in order to prevent foreclosure,” according to the FINRA award. The investors alleged that Olson manipulated them into undertaking significant debt and liquidating annuitizing and structuring their investment assets earmarked for retirement to pay the staggering debt obligations related to the real estate investment recommendations.
Our attorneys has successfully represented hundreds of investors in their broker disputes with their advisor firms. Our consultations are free and we welcome all inquiries.