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November 26, 2015 6:48 AM ET

Capital Markets

Company Overview of NEXT Financial Group, Inc.

Company Overview

Next Financial Group, Inc. provides brokerage services to investors. The company was founded in 1998 and is based in Houston, Texas. Next Financial Group, Inc. operates as a subsidiary of NEXT Financial Holdings, Inc.

2500 Wilcrest Drive

Suite 620

Houston, TX 77042

United States

Founded in 1998





Key Executives for NEXT Financial Group, Inc.

Chairman and Chief Executive Officer
Age: 61
Chief Financial Officer
Chief Operating Officer
Chief Compliance Officer and Executive Vice President
Compensation as of Fiscal Year 2015.

NEXT Financial Group, Inc. Key Developments

Two Palm Beach County Florida Law Firms Files Suit Against Next Financial Group, Inc. and Heidi Wivolin

Two Palm Beach County Florida law firms, Mrachek, Fitzgerald, Rose, Konopka Thomas & Weiss of West Palm Beach, FL, and Dickenson Murphy Rex & Sloan of Boca Raton, FL, announced the filing of a complaint against NEXT Financial Services and local resident Heidi Wivolin, who is a registered broker with NEXT. The case Pasi Martin, vs NEXT Financial Group, Inc., and Heidi Wivolin, seeks damages in excess of $15,000 on behalf of Pasi Martin, another Finnish citizen and several other Finnish and Florida entities. The complaint alleges that since 2009, Martin and his co-plaintiffs entrusted millions of dollars to NEXT Financial, through their broker/agent Wivolin, which operated an office in Manalapan, FL. The Plaintiffs were told the funds were invested in municipal bonds. Recently Wivolin and Shawn O'Sullivan, who operated FirsTrust Investments from the same location as the NEXT Financial office, admitted to Martin that the purported municipal bond portfolio was actually a fiction and that all the monies had been lost in a number of unauthorized investments. The complaint further alleges that Wivolin, who is fluent in Finnish and a well known member of the Lake Worth Finnish community, capitalized on that fact to mislead Mr. Martin, who does not speak English. It is anticipated that other defendants may be named in the near future.

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