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

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