The broker arm comprises several businesses - Invest Financial Corporation, Investment Centers of America, Inc., National Planning Corporation and SII Investments, Inc.
The businesses have been sold to LPL Financial, which Prudential described in its announcement to the market as the “largest independent broker-dealer firm in the US”.
The initial purchase price is $325m (£252m). That could rise to $448m (£348m) if the business being sold hits certain targets.
The deal needs regulatory approval in the US, and is expected to be completed by the first quarter of 2018.
Barry Stowe, chairman and chief executive of Prudential’s North American Business Unit, said: “"While we still very much believe in the independent broker-dealer model, our primary strategy in North America is to focus on being the leading manufacturer of retirement products."
This announcement comes in the wake of Prudential announcing last week that it is merging its M&G Asset Management arm with the the European divisions of Prudential.
That has prompted many in the market to ponder whether the merger is a first step towards a spin-off of the European business.
David.Thorpe@ft.com
