National Retirement Partners is an independent broker dealer that is focused, almost exclusively, on retirement plan sales and consultation. Obviously, if this is your forte as a Financial Adviser, then this firm is worth a look. NRP does offer independence and autonomy to build a business the way you'd like. With 90% payouts, the commission level is among the highest in the industry.
Like other independent broker dealers you get very little support for office or business expenses unless you are bringing a significant book along with you. Their minimum production requirement is $250,000. Home office staff can be a little clueless at times; benefits are expensive; seems that their profitability may have eroded recently, causing pressure on their operations.
Advice to Management
Be more consistent with you intentions and stick to your commitments.
National Retirement Partners focuses on retirement plan advisors and also has the support and products you'd seen at any other independent broker/dealer. While they are an incredible firm for advisors doing qualified plans, advisors with 50% plus of their business in other areas will still find them a more than capable broker/dealer. We are currently an NRP Member Firm and have an extremely capable relationship manager that we work with on a daily basis and consider part of our team. We leverage the majority of the tools and services they offer which ends up saving us a lot of time and money in the long run.
NRP actually requires $500k in revenue in order to come on board and while some might describe this as a con, our firm believes that this requirement keeps out unexperienced advisors and ensures a quality brand name. The idea behind the firm is that they only bring on the best of the best so therefore you must be established in order to join.
Advice to Management
Keep up the good work! The new tool enhancements have been great and we're really looking forward to the National Conference.
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