Type Private Founder Dan McConnell Number of employees 165 | Industry Financial Services Founded 1982 | |
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Key people Steve H. Dowden, President & CEO Products Financial Services, Stocks & Bonds, Mutual Funds, Fixed & Variable Annuities Revenue $237 million USD (2012) Website www.investfinancial.com Parent organization National Planning Holdings, Inc. Subsidiaries INVEST Financial Corporation Insurance Agency Inc. of Delaware | ||
Invest Financial Corporation (styled by the company in its own literature as INVEST Financial Corporation) is an American full-service broker/dealer, registered with the Financial Industry Regulatory Authority (FINRA), the Securities Investor Protection Corporation, the U.S. Securities and Exchange Commission (SEC) and state insurance agencies in all 50 states. Invest supervises and supports both financial institutions and independent registered representatives who offer advisory services, investment and insurance products. Invest was formed in 1982 under Dan McConnell and was the first firm to offer securities inside a bank lobby.
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Invest has over $24 billion in assets managed by over 1,200 Advisers who are registered with Invest. Invest’s total registered advisers account for 1,136 full-time advisers and 274 part-time advisers in approximately 150 Financial Institutions. Invest Corporate Office is located in Tampa, Florida and employs over 165 staff members who support financial advisers.
History
Formed and solely-owned by Dan McConnell in 1982, Invest Financial was later bought by Brentwood Securities. Brentwood changed its name to Investment Services for America (ISFA) – ISFA Holding Company. Kemper Financial, a major shareholder of ISFA sold Invest to First American National Bank in 1996. First American National Bank was then bought by AmSouth Bank in mid-1999. In 2000, Invest was sold by AmSouth Bank to National Planning Holdings (NPH) and is still a subsidiary of the corporation. Under the NPH umbrella, in 2004, Invest implemented EOE software and E-Sign technology. EOE is a network of online forms, electronic blotters, and basic compliance checks that representatives use when working with clients. E-Sign, a part of EOE, allows representatives to get client signatures for documentation on an electronic pad, eliminating paperwork.
Key dates
Affiliations
Invest Financial Corporation is a subsidiary of National Planning Holdings, Inc. (NPH) a broker-dealer holding company headquartered in Santa Monica, California. NPH is the holding company for four broker-dealers – Invest, National Planning Corporation, Investment Centers of America, and SII Investments, Inc. NPH is an affiliate of Jackson National Life Insurance Company (Jackson), headquartered in Lansing, Michigan. With $165.4 billion in assets (IFRS), Jackson is an industry leader in variable, fixed, and fixed index annuities. The company also offers institutional products.
NPH and Jackson are indirect subsidiaries of Prudential plc, a company incorporated and with its principal place of business in the United Kingdom. Prudential plc and its affiliated companies constitute one of the world’s leading financial service groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world. It has been in existence for over 160 years and has more than $685 billion in assets under management as of December 31, 2012. 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.
Other
Invest has relationships with two independent clearing firms in the U.S. for brokerage accounts and processing trades - National Financial Services, LLC, a wholly owned subsidiary of Fidelity Investments and Pershing, LLC, a subsidiary of the Bank of New York Company, Inc.