1183186--2/13/2009--NATIONAL_FINANCIAL_PARTNERS

related topics

{financial, litigation, operation}

{tax, income, asset}

{condition, economic, financial}

{acquisition, growth, future}

{system, service, information}

{regulation, change, law}

{competitive, industry, competition}

{loan, real, estate}

{product, market, service}

{personnel, key, retain}

{loss, insurance, financial}

{debt, indebtedness, cash}

{cost, contract, operation}

{customer, product, revenue}

{stock, price, operating}

{cost, operation, labor}

{stock, price, share}

{capital, credit, financial}

The Company s operating strategy and structure may make it difficult to respond quickly to regulatory, operational or financial problems and to grow its business, which could negatively affect the Company s financial results. The Company s dependence on the principals of its firms may limit its ability to manage its business effectively and profitably. The recessionary environment and its impact on consumer confidence could negatively affect the Company. If the Company is required to write down goodwill and other intangible assets, the Company s financial condition and results would be negatively affected. The Company may not resume acquisitions or may be unsuccessful in acquiring suitable acquisition candidates, which could adversely affect the Company s growth. The Company may be adversely affected if the firms it acquires do not perform as expected, which may lead to losses incurred by the Company. The Company s revenue and earnings may be affected by fluctuations in interest rates, stock prices and general economic conditions. The price of NFP s common stock may fluctuate significantly, which could negatively affect the Company and the holders of NFP s common stock. In light of current market conditions, the Company s inability to access the capital markets on favorable terms may adversely affect the Company s future operations, including continued acquisition activity. NFP s credit facility contains restrictions and limitations that could significantly restrict the Company s ability to operate its business. The Company s business is subject to risks related to litigation and regulatory actions. The failure of insurance carriers may impact the Company. In addition, NFP may need to expend resources to address questions regarding its relationship with financial institutions. Competition in the Company s industry is intense and, if the Company is unable to compete effectively, the Company may lose clients and its financial results may be negatively affected. Elimination or modification of the federal estate tax could adversely affect revenue from the Company s life insurance, wealth transfer and estate planning businesses. Additionally, changes in laws and regulations may adversely affect the Company s business. A change in the tax treatment of life insurance products the Company sells or a determination that these products are not life insurance contracts for federal tax purposes could reduce the demand for these products, which may reduce the Company s revenue. Changes in the pricing, design or underwriting of products and services the Company s firms sell could adversely affect the Company s revenue. Because the revenue the Company s firms earn on the sale of certain insurance products is based on premiums and commission rates set by insurers, any decreases in these premiums or commission rates could result in revenue decreases for the Company. The decrease in other fees, such as life settlement and registered investment advisory fees, that the Company s firms earn may also impact the Company s revenue. Changes in the Company s accounting estimates and assumptions could negatively affect its financial position and operating results. Failure to comply with or changes in state and federal laws and regulations applicable to the Company could restrict the Company s ability to conduct its business. The geographic concentration of the Company s firms could leave the Company vulnerable to an economic downturn or regulatory changes in those areas, resulting in a decrease in the Company s revenue. The loss of key personnel could negatively affect the Company s financial results and impair the Company s ability to implement its business strategy. The securities brokerage business has inherent risks. Failure to comply with net capital requirements could subject the Company s wholly-owned broker-dealers to suspension or revocation of their licenses by the SEC or expulsion from FINRA. The Company s business, financial condition and results of operations may be negatively affected by errors and omissions claims. Because the Company s firms clients can withdraw the assets its firms manage on short notice, poor performance of the investment products and services the Company s firms recommend or sell may have a material adverse effect on the Company s business. The Company s results of operations could be adversely affected if the Company is unable to facilitate smooth succession planning at its firms. Government regulation relating to the supplemental executive benefits plans the Company designs and implements could negatively affect its financial results. The Company s business is dependent upon information processing systems. NFP may overestimate management fees advanced to principals and/or certain entities they own, which may negatively affect its financial condition and results. NFPSI relies heavily on Fidelity, its clearing firm, and termination of its agreement with Fidelity could harm its business.

Full 10-K form ▸

1183186--2/13/2009--NATIONAL_FINANCIAL_PARTNERS_CORP