What National Financial Services does

National Financial Services, Inc. is a privately held, family-operated financial advisory firm headquartered in Roanoke, Virginia, serving over 12,000 individual investors and small business owners across at least 25 U.S. states. The firm delivers personalized financial planning, portfolio management, life/disability/long-term care insurance, retirement plan administration, and trust services. Securities and investment advisory services are distributed through affiliated broker-dealer Equity Services, Inc. (Member FINRA/SIPC); fixed, permanent life insurance is sourced from National Life Insurance Company, annuities from Life Insurance Company of the Southwest, and trust services from American Guarantee and Trust Company and U.S. Trust.

The firm's operational technology stack is built on third-party platforms: the Circle of Wealth System (licensed from MoneyTrax, Inc.) powers financial-planning illustrations; eMoney and Wealthscape Investors provide client-facing account portals; FMG Suite hosts the website and Knowledge Center content infrastructure (articles, videos, calculators, a 200+-term glossary). Layered on top of the Circle of Wealth System are firm-specific planning methodologies — Circle Talk, Mortgage Master, Personal Economic Model, Private Reserve Strategy, and Qualified Plans — designed to translate client situations into insurance and wealth-transfer strategies.

Revenue is generated through commission-based insurance/annuity placements (sourced via National Life Group carriers) and fee-based investment advisory and retirement plan administration routed through Equity Services, Inc. Distribution combines direct advisor-client relationships with a network of three affiliated offices (Bold Financial Strategies in Lynchburg VA, NJP Associates in Highland Park NJ, and Roberson Financial Services in Lynchburg VA), supplemented by referrals from a professional advisor network of CPAs and attorneys. No public revenue, AUM, funding, or headcount figure is disclosed; the firm is privately held with leadership concentrated in the Hearp family (Eddie F. Hearp, CEO; Todd F. Hearp, CLU, President).

Name

National Financial Services

Legal name

National Financial Services, Inc.

Website

https://nfservicesinc.com

Company type

Private

Founded year

1904

Operating status

Operating

Headcount range

1–10 employees

Short description

National Financial Services, Inc. is a privately held, family-operated financial advisory firm in Roanoke, Virginia, providing financial planning, portfolio management, insurance, retirement plan, and trust services to over 12,000 individual investors and small business clients across 25+ U.S. states via Equity Services, Inc. and National Life Group carrier partnerships.

Ownership category

akta.pro rank

Product category

Financial Advisory Services

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282)

akta.pro primary industry

Private Banking Advisory & Discretionary Portfolio Management (FSABADAD)

akta.pro secondary industry

Offshore & International Private Banking (FSAAABAB)

Keywords

• Financial planning services
• Wealth management advisory
• Portfolio management services
• Retirement plan services
• Estate planning advisory

Headquarters

HQ city

Roanoke

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Securities and Investment Advisory Services: Offered through Registered Broker-Dealer and fee-based Registered Investment Advisor Equity Services, Inc. Registered Representatives and Investment Adviser Representatives provide investment services and financial advice for a fee.
2. Insurance Products: Life, disability and long term care insurance products. Long-Term Care and Disability insurance available through representatives independently contracted with insurers. Fixed, permanent life insurance products through National Life Insurance Company.
3. Annuity Products: Annuity products provided through Life Insurance Company of the Southwest (LSW), a recognized leader in annuity products authorized in 49 states.
4. Trust Services: Trust services represented through quality trust companies including American Guarantee and Trust Company and U.S. Trust for estate planning and asset protection.
5. Retirement Plan Services: Full services for qualified retirement plans including plan design, administration and investment management for business sponsors.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

National Financial Services, Inc. is a financial advisory firm that delivers Financial Planning, Portfolio Management, Insurance, Investment, Retirement Plan, and Trust services to individual investors and small business/professional practice sponsors. The firm applies proprietary planning methodologies such as the Circle of Wealth System, Circle Talk, Mortgage Master, Personal Economic Model, and Private Reserve Strategy to coordinate retirement, education, estate, business succession, and tax planning for clients.

Product overview

National Financial Services, Inc. is a financial advisory firm offering a comprehensive suite of services organized around core offerings: Financial Planning, Portfolio Management, Insurance Services (life, disability, long-term care), Investment Services, Retirement Plan Services, and Trust Services. The firm differentiates through proprietary planning methodologies including the Circle of Wealth System, Circle Talk, Mortgage Master, Personal Economic Model, and Private Reserve Strategy. Supporting infrastructure includes the Knowledge Center with educational articles and calculators, a Financial Glossary with over 200 terms, and Tax Resources. Services are delivered through a network of affiliated offices and a team of licensed professionals.

Differentiator

Problem solved

Functional benefit

Products and services

• Financial Planning Coordinated personal financial planning service covering retirement, college funding, estate planning, and tax planning for individual investors and families.

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Equity Services, Inc.coreTechnology or IntegrationRegistered Broker-Dealer and fee-based Registered Investment Advisor. Securities and Investment Advisory Services are offered solely through Equity Services, Inc., Member FINRA/SIPC. All securities and investment advisory services are distributed through this partnership.
• National Life Insurance CompanycoreTechnology or IntegrationMontpelier, Vermont-based dynamic and growing financial services organization offering comprehensive range of life insurance, annuities, financial and retirement planning products, as well as pension design and administration. Authorized to do business in all 50 states and the District of Columbia.
• Life Insurance Company of the Southwest (LSW)coreTechnology or IntegrationAddison, Texas-based recognized leader and provider of annuity products. Authorized to do business in 49 states and the District of Columbia. Does not do business in New York.
• Professional Advisors, CPAs and Attorneys NetworkcoreStrategic or Co-development PartnerAffiliated network of Professional Advisors, CPAs and Attorneys that collaborate with National Financial Services to deliver comprehensive financial solutions to clients.
• Bold Financial Strategies, LLCminorChannel Partner/ Reseller/ DistributorAffiliated office located in Lynchburg, VA operated by Demond Bolden, providing localized financial services under the National Financial Services umbrella.
• NJP AssociatesminorChannel Partner/ Reseller/ DistributorAffiliated office located in Highland Park, NJ operated by Norm Politziner, providing localized financial services under the National Financial Services umbrella.
• Roberson Financial ServicesminorChannel Partner/ Reseller/ DistributorAffiliated office located in Lynchburg, VA operated by Roy Roberson, Jr., providing localized financial services under the National Financial Services umbrella.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Stifel Financial: Broker-dealer and wealth manager offering private client group, retirement, and institutional services. Overlaps with NFS's wealth and retirement plan offerings at a larger scale.
• Commonwealth Financial Network: Independent broker-dealer supporting RIAs and financial advisors with planning tools, custody, and product access. Sits in the same independent-advisor channel as NFS.
• LPL Financial: Largest U.S. independent broker-dealer supporting ~22,000 advisors with wealth management, advisory, and insurance platforms. Sets the competitive backdrop for smaller firms like NFS that rely on affiliated B/Ds.
• Cetera Financial Group: Independent broker-dealer serving thousands of financial professionals with securities, advisory, and insurance product access. Operates in the same ecosystem as Equity Services, the B/D through which NFS clears.
• Cambridge Investment Research: Independent broker-dealer providing advisor support across financial planning, investment, and insurance. Comparable as a platform alternative that competes for the same independent-advisor segment.

Direct peers

• Edward Jones: Large U.S. wealth management firm with a branch-based advisor model serving individual investors and small-business owners on financial planning, retirement, and insurance. Closely mirrors NFS's relationship-led, advisor-driven approach scaled nationally.
• New York Life: Mutual insurer and wealth manager pairing life insurance and annuities with investment advisory and retirement planning via a career agent force. Highly comparable to NFS in product mix and planning methodology.
• Ameriprise Financial: Diversified financial services company delivering financial planning, investment advisory, insurance, and retirement solutions through a national advisor force. Comparable in product breadth and planning-led positioning to NFS.
• Raymond James Financial: Wealth management firm combining affiliated advisor channels with broker-dealer and asset management. Its independent-advisor network serves the same HNW individual and small-business client profile as NFS.
• Northwestern Mutual: Mutual company offering financial planning, life insurance, and investment services through a career advisor system. Overlaps directly with NFS on insurance-led wealth planning for individuals and business owners.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Financial Services