Largest independent broker-dealer holding companies

Ranked by number of reps at all subsidiary IBDs

Jan 17, 2014 @ 2:16 pm

Holding companyIBD subsidiary20132012% change
LPL Financial Holdings Inc.LPL Financial LLC13,55313,1553.0%
Ameriprise FinancialAmeriprise Financial Services Inc.7,5267,4491.0%
Cetera Financial GroupCetera Advisor Networks, Cetera Financial Institutions, Cetera Financial Specialists, Cetera Advisors7,4486,19820.2%
The Northwestern Mutual Life Insurance Co.Northwestern Mutual5,7815,939-2.7%
Advisor GroupRoyal Alliance Associates Inc., SagePoint Financial Inc., Woodbury Financial Services, FSC Securities Corp.5,4625,4630.0%
AXA Financial Inc.AXA Advisors LLC5,0455,242-3.8%
Massachusetts Mutual Life Insurance Co.MML Investors Services LLC4,7174,5713.2%
AegonTransamerica Financial Advisors Inc.4,7004,5653.0%
MetLife Inc.MetLife Securities Inc., New England Securities Inc.4,6546,996-33.5%
Parthenon Capital PartnersHD Vest Investment Services4,5734,670-2.1%
National Planning Holdings Inc.INVEST Financial Corp., National Planning Corp., SII Investments Inc., Investment Centers of America Inc.4,3003,81612.7%
ING U.S.ING Financial Partners Inc.3,3633,2204.4%
Raymond James FinancialRaymond James Financial Services Inc.3,2753,2201.7%
Principal Life Insurance Co.Princor Financial Services Corp.2,2822,2830.0%
Ladenburg Thalmann Financial Services Inc.Securities America Inc., Investacorp Inc.2,2542,2191.6%
Guardian Life Insurance Co.Park Avenue Securities LLC2,2212,234-0.6%
Securian Financial Group Inc.Securian Financial Services Inc., H. Beck Inc.1,9181,970-2.6%
Waddell & Reed Financial Inc.Waddell & Reed Inc.1,8791,8750.2%
National Financial Partners Corp.NFP Advisor Services Group 1,6521,6500.1%
Manulife FinancialSignator Investors Inc.1,5691,602-2.1%
Ameritas Life Insurance Co.Ameritas Investment Corp.1,2981,318-1.5%
Ohio National Life Insurance Co.The O.N. Equity Sales Co.9529243.0%
M Financial GroupM Holdings Securities Inc. (M Securities)8878524.1%
Penn Mutual Life Insurance Co.Hornor Townsend & Kent Inc.8808207.3%
RCAP Holdings, LLCFirst Allied Securities Inc.8788157.7%

As of Sept. 30 Source: InvestmentNews Data

Featured video

INTV

How advisers are helping clients battle the opioid crisis

Editor Fred Gabriel, contributing editor Elizabeth MacBride and reporter Greg Iacurci discuss the financial impact of the opioid epidemic on American families, and how advisers can help.

Latest news & opinion

Will Jeffrey Gundlach's Trump-like approach on Twitter work in financial services?

The DoubleLine CEO's attacks on Wall Street Journal reporters is igniting a discussion on what's fair game on social media.

Fidelity wins arb case against wine mogul but earns a rebuke from Finra

In the case of investor Peter Deutsch, Fidelity doesn't have to pay any compensation, but regulator said firm put its interests ahead of his.

Plaintiffs win in Tibble vs. Edison 401(k) fee case

After a decade of activity around the lawsuit, including a hearing before the U.S. Supreme Court, judge rules a prudent fiduciary would have invested in institutional shares.

Advisers get more breathing room to make Form ADV changes

RIAs can enter '0' in some new parts of the document before their annual filing next year.

Since banking scandal, Wells Fargo advisers with more than $19.2 billion leave firm

Despite a trying year, the firm has said it will sweeten signing bonuses for veteran advisers.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print