Next Financial Group, Inc

CRD#46214
Investment Advisor Firm

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Learn more about Next Financial Group, Inc

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Next Financial Group, Inc is a financial advisory firm located in Houston, Texas. Next Financial Group, Inc has $2.9 billion in assets across 16,162 accounts, placing it among the biggest financial advisory firms in the United States by assets under management (AUM). The firm has a large group, including 410 financial advisors. Next Financial Group, Inc does not act as a registered broker-dealer, signifying that the company cannot buy and sell securities for its accounts and those of its customers and instead is required to go through a broker-dealer firm to do so. Securities are defined as tradable fiscal investments like equities, options and bonds.

    Next Financial Group, Inc administers 15,853 of the company's client assets in a discretionary manner. Discretionary management means that an investment advisor has the discretion to make transaction choices for the client's account without needing client permission. It also has 309 non-discretionary accounts totaling $13.4 million in assets. The advisory firm manages roughly $180,612 in assets for each customer account. The typical advisor at Next Financial Group, Inc administers around 39 client accounts, placing it towards the middle in terms of personalization.

    The firm's main office is located at 11740 Katy Freeway, Houston, Texas 77079. The company is legally allowed to serve clients across 51 U.S. states and territories.

    Assets Under Management

    $2.9 billion

    Number of Advisors

    410

    Disclosures

    No

    Office Location

    11740 Katy Freeway
    Houston, TX 77079

    Next Financial Group, Inc by the Numbers

    Total Assets Under Management

    $2.9 billion

    National Average: $8.6 billion
    Total Number of Employees

    587

    National Average: 64
    Total Number of Accounts

    16,162

    National Average: 375,227
    Average Account Size

    $180.6 thousand

    National Average: $23.0 thousand
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    Products and Services

    Next Financial Group, Inc provides a number of financial services, which can include financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, selection of other advisers and educational seminars. In the prior fiscal year, Next Financial Group, Inc provided 251-500 of its clients with financial planning services. It is involved in selling products or offering services other than investment advice to its clients. It also has a number of financial industry affiliations, including with a broker-dealer or securities dealer and insurance company or agency.

    Core Advisor Services

    • Offered by 31% of firms

      Financial Planning Services

      This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

    • Offered by 46% of firms

      Portfolio Management

      This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

    • Find a firm that offers this service

      Market Timing Services

      This is the practice of attempting to make short-term profits on investments by buying low and selling high.

    Other Services

    • Offered by 20% of firms

      Selection of Other Advisors

      This is the firm's assistance with choosing other advisors to work with who may have different specialties.

    • Find a firm that offers this service

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Offered by 6% of firms

      Educational Seminars/Workshops

      This is the hosting of seminars or workshops to educate investors on financial concepts.

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    Fee Structure

    Fees for financial advice usually vary depending on which services the firm provides the client. Fee types billed by the firm likely include any blend of the following fee structures: asset-based, hourly, fixed or other. Wrap fee programs, or the practice of bundling services for a single fee, are provided by the company.

    Available

    • Offered by 69% of firms

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    • Offered by 21% of firms

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Offered by 32% of firms

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    • Offered by 10% of firms

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

    Unavailable

    • Find one of the 1% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 26% of firms that offer this fee type

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

    Back to Overview

    Types of Clients

    The company does business with a broad range of investors. The company caters to retail investors, high net worth investors, pension plans, charitable organizations and corporations. Out of its 16,162 clients, Next Financial Group, Inc's largest client is retail investors, but it also caters to 783 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an investor who has at least $750,000 in AUM or a net worth of at least $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's customers are from outside of the U.S.

    • High-Net-Worth Individuals* - 4.84%
    • Other Individuals - 94.31%
    • Corporations - 0.56%
    • Charitable Organizations - 0.29%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Next Financial Group, Inc does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Next Financial Group, Inc

    Steven Carlson
    Canton, OH
    Matthew Giese
    Waterford, WI
    Erik Truxal
    Sacramento, CA
    Jason Pfitzinger
    Chesterfield, MO
    Ryan Delcarlo
    Sacramento, CA
    Philip Kong
    Sacramento, CA
    Bradley Laczny
    Roseville, CA
    Mark Vuskov
    Houston, TX
    Peter Gutschenritter
    Atlanta, GA

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    The content in this profile was updated by SmartAsset on 4/16/2023. All advisor details come from publicly available data, and we cannot guarantee the accuracy of the content. We are unable to make individual profile updates. If you want your profile removed temporarily or permanently, please contact profile-compliance@smartasset.com.

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