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

How (and why) to attract more millennial clients

It is time to take a hint from your grandmother if you want to attract more Gen Y clients. Amy Butte, the former CEO of the NYSE, says you need to learn to speak the language of financial services in a way millennials can comprehend.

Video Spotlight

Help Clients Be Prepared, Not Surprised

Sponsored by Prudential

Recommended Video

Path to growth

Latest news & opinion

Brace for steepest rate hikes since 2006 in new year

Citigroup, JPMorgan Chase predict average interest rates across advanced economies will climb to at least 1 percent in 2018.

Why private equity wants a piece of the RIA market

Several factors, including consolidation in the independent advice industry and PE's own growing mountain of cash, are fueling the zeal to invest.

Finra bars former UBS rep for private securities transactions

Regulator says Kenneth Tyrrell engaged in undisclosed trades worth $13 million.

Stripped of fat commissions, nontraded REIT sales tank

The "income, diversify and interest rate" pitch was never the main draw for brokers.

Morgan Stanley fires former Congressman Harold Ford for misconduct

Allegations against the wirehouse's former managing director include sexual harassment, which Ford denies.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print