Where the largest indie B-Ds clear

Clearing firms used by the independent broker-dealers with the most revenue

Jul 15, 2012 @ 12:01 am

  
Rank Firm Clearing firm(s) used 2011 total revenue ($M)
1 LPL Financial Self-clearing $3,338.4
2 Ameriprise Financial Services Inc. Self-clearing $2,841.1
3 Raymond James Financial Services Inc. Self-clearing $1,178.1
4 Lincoln Financial Network National Financial Services , Pershing $784.8
5 Commonwealth Financial Network National Financial Services , Pershing $646.5
6 AXA Advisors LLC LPL Financial Custom Clearing Services $572.5
7 MetLife Securities Inc. Pershing $542.7
8 Wells Fargo Advisors Financial Network First Clearing $519.9
9 Northwestern Mutual Pershing $510.1
10 Securities America Inc. National Financial Services , Pershing $444.3
11 Cambridge Investment Research Inc. National Financial Services , Pershing $396.9
12 Royal Alliance Associates Inc. National Financial Services , Pershing $395.8
13 NFP Advisor Services Group (and affiliates) National Financial Services $369.2
14 Financial Network Investment Corp. Pershing $351.8
15 MML Investors Services LLC National Financial Services $347.4
16 National Planning Corp. Pershing $335.9
17 ING Financial Partners Inc. Pershing $331.2
18 Waddell & Reed Inc. Pershing $330.7
19 Securian Financial Services Inc. Pershing $282.5
20 FSC Securities Corp. National Financial Services , Pershing $264.0
Revenue figures as of firms' year end.
Source: InvestmentNews Data

Featured video

Events

Albridge's Butler: Making advisers of tomorrow more effective and efficient

Gadget Girl checks out the latest tech from Albridge and how they're helping advisers stay one step ahead of the curve.

Video Spotlight

Will It Last As Long As Your Clients Do?

Sponsored by Prudential

Video Spotlight

The Catalyst

Sponsored by Pershing

Latest news & opinion

Brian Block's $4 million bonus was tied to a key metric at ARCP

Prosecution rests case in fraud trial against CFO of American Realty Capital Properties.

Edward Jones is winning the Google search war

Brokerage firm's digital marketing investment helps land it at the top of local and overall search engine results, report finds.

Voya's win in 401(k) fee suit involving Financial Engines bodes well for other record keepers

Fidelity, Aon Hewitt and Xerox HR Solutions are currently defending against similar fiduciary-breach claims.

Collective investment trusts getting more attention from 401(k) advisers

The funds are catching on due largely to lower costs and more product availability, but come with some inherent drawbacks.

Vanguard rides robo-advice wave to $65B in assets

Personal Advisor Services, four times the size of its closest competitor, combines digital and human touch.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print