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Planmember

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PlanMember Securities Corporation
TypePrivate
IndustryFinancial services
Founded1982; 44 years ago (1982)
HeadquartersCarpinteria, California, United States,
6267 Carpinteria Ave
Carpinteria, California
,
United States
Area served
United States
Key peopleJon Ziehl, President & CEO
RevenueIncrease US$ $143.0 million (2021)
Websitewww.planmember.com

PlanMember Securities Corporation (commonly referred to as PlanMember) was founded in 1982[1][2] and is considered one of the 25 largest independent broker-dealers.[3] As of 2020, the company had more than 479 financial advisors,[4] over $14 billion in advisory & brokerage assets,[5] and generated approximately $143.0 million in annual revenue for the 2021 fiscal year.[2]

PlanMember was formed in 1982 to provide educators with the level of service and investment choices available to many corporate retirement plan employees.[6] The company has expanded its financial services through more than 50 US-based financial centers and 500 independent financial advisors.[7] PlanMember is headquartered in Carpinteria, CA.

PlanMember's subsidiaries are PlanMember Services, PlanMember Services, PlanMember Financial Corporation, PlanMember Educational Services, and PSC Insurance Marketing Corporation.[8]

Statistics

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Key facts regarding PlanMember include the following:

  • IBD Elite Top 50 independent broker/dealers[3][9]
  • 500 financial representatives[2]
  • Approximately 4,500 technology, custody, and clearing service subscribers[10]
  • $16.6 billion in advisory and brokerage assets as of April 2022[2]
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On March 11, 2019, 79 firms agreed to a $125 million industry settlement arising from Firms 12b-1 fees fund sale violations. PlanMember to return $3.5 million to clients.[11][12]

References

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  1. ↑ "Company Profile". InvestmentNews. Retrieved Oct 22, 2019.
  2. 1 2 3 4 Staff, FA (April 3, 2022). "FA's 2022 B-D Ranking 2022" (PDF). Financial Advisor. Retrieved Jan 4, 2023.
  3. 1 2 Salinger, Tobias (August 31, 2022). "IBD Elite 2022: Which independent brokerages have the biggest RIAs?". Financial Planning. Retrieved Jan 4, 2023.
  4. ↑ "Recruitment & Staffing". Investment News. Retrieved Jan 4, 2023.
  5. ↑ "Asset Breakdown". Investment News. Retrieved Jan 4, 2023.
  6. ↑ "About PlanMemember". Retrieved Oct 28, 2019.
  7. ↑ "PlanMemember History". Retrieved Jan 4, 2023.
  8. ↑ "Asset Breakdown". Retrieved Oct 22, 2019.
  9. ↑ Financial-Planning.com (September 2022). "IBD Elite" (PDF). Investment News. Retrieved Jan 4, 2023.
  10. ↑ Publishing, Value Line. "Value Line - The Most Trusted Name in Investment Research". www.valueline.com.
  11. ↑ Staff, AdvisorHub (March 11, 2019). "Investors to Get $125 Mln from Firms Fessing Up to Fund Sale Violations". Investment News. Retrieved October 22, 2019.
  12. ↑ "File No. 3-19080" (PDF). Securities and Exchange Commission. Mar 11, 2019. Retrieved Jan 4, 2023.
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