Planmember Explained

PlanMember Securities Corporation
Type:	Private
Key People:	Jon Ziehl, President & CEO
Industry:	Financial services
Area Served:	United States
Revenue:	US$ $143.0 million (2021)
Hq Location City:	6187 Carpinteria Ave Carpinteria, California
Hq Location Country:	United States
Location:	Carpinteria, California, United States

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

PlanMember Financial 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 40 US-based financial centers and 480 independent financial advisors.^[7] PlanMember is headquartered in Carpinteria, CA.

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

Statistics

Key facts regarding PlanMember include the following:

• IBD Elite Top 50 independent broker/dealers^{[9] [10]}
• 461 financial representatives^[5]
• Approximately 4,500 technology, custody, and clearing service subscribers^[11]
• $16.6 billion in advisory and brokerage assets as of April 2022^[5]

Legal

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.^{[12] [13]}

External links

• Official site
• Financial Advisor site

Notes and References

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