National Planning grabs 65 reps and $750M from Main Street

National Planning Corp. is scooping up the representatives and assets of Main Street Securities LLC, which is closing down its broker-dealer operations to join NPC. Main Street has 65 reps who manage $750 million, according to a statement put out last week by NPC. NPC will provide Main Street reps and advisers with broker-dealer services and access to investment products. Main Street, which is based in Hays, Kan., was founded in 1999 and specializes in variable and indexed annuities, along with insurance. Terms of the deal were not disclosed. E-mail Bruce Kelly at bkelly@investmentnews.com.