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2016 custodians and clearing firms ranking

New data gathered by InvestmentNews shows how these firms stack up

Aug 11, 2016 @ 12:13 pm

By InvestmentNews Data

Clearing Firms listed by number of broker-dealer clients

FirmWebsite# of clients% change vs. 2015ContactPhoneEmail
Pershing LLCwww.pershing.com/who-we-serve/broker-dealers743-3.80%Michael Row(800) 445-4467pershing.com/contact/
RBC Correspondent Servicesrbc-cs.com1873.90%Greg Plifka(888) 524-9800greg.plifka@rbc.com
Hilltop Securities Inc.HilltopSecurities.com17831.90%Lana Calton(214) 859-9228lana.calton@hilltopsecurities.com
COR Clearing LLCcorclearing.com1022.00%Michael Scaplen(732) 635-2490michael.scaplen@corclearing.com
Apex Clearing Corp.apexclearing.com10025.00%Scott Daspin(214) 953-3596sdaspin@apexclearing.com
Wedbush Securities Inc.wedbush.com100-16.70%Sean Thompson(213) 688-4578sean.thompson@wedbush.com
First Clearing LLCfirstclearing.com73-5.20%David L. Williams(888) 322-2532david.l.williams@firstclearing.com
Sterne Agee Clearing Inc.sterneagee.com50-37.50%Damon B. Joyner(205) 271-6208djoyner@sterneagee.com
Raymond James & Associates Inc.raymondjamesclearing.com412.50%Robb Combs(813) 541-0340robb.combs@raymondjames.com
LPL Financial LLClpl.com60.00%Matthew Enyedi(858) 909-7226matthew.enyedi@lpl.com
DST Market Services, LLCdstmarketservices.comN/DN/ATom Parr(612) 238-3993tparr@dstsystems.com
Fidelity Clearing & Custody Solutions*nationalfinancial.comN/DN/ADave Brown(212) 335-5064david.brown.nf@fmr.com
Merrill Lynch Professional Clearing Corp. & Broadcort**broadcort.comN/AN/AAnthony Vella(646) 743-0955anthony.j.vella@baml.com

As of June 30. N/A = not available. N/D = not disclosed. *As of June 30, Fidelity Clearing and Custody had 3,200 total clients and $1.5T in assets. Firm did not break out RIA custody clients and assets from clearing clients and assets. **Bank of America Merrill Lynch was not able to provide data by press time.

Source: InvestmentNews Data

Custodians listed by number of RIA clients

FirmWebsiteHead of RIA custody business# of clients% change vs. 2015Assets under custody ($M)% change vs. 2015Minimum assets of advisers
SEI Investmentsseic.com/advisorsWayne Withrow (Head of Clearing)7,140*3.7%$53,700.08.0%None
Schwab Advisor Servicesadvisorservices.schwab.comBernie Clark (Executive Vice President and Head of Schwab Advisor Services)7,1000.0%$1,206,000.05.8%N/D
TD Ameritrade Institutionaltdainstitutional.comTom Nally (President)5,0000.0%N/DN/ANone
Interactive Brokers LLCinteractivebrokers.comAndrea Nagy (Sales Engineer)3,30513.6%$12,561.916.3%None
Shareholders Service Groupssginstitutional.comPeter Mangan (CEO)1,5137.2%N/DN/ANone
Scottrade Advisor Servicesadvisor.scottrade.comBrian J. Stimpfl (Head, Scottrade Advisor Services)1,0000.0%N/DN/ANone
Trade-PMR Inc.tradepmr.comRobb Baldwin (CEO)975-13.9%N/DN/A$2.5M
Pershing Advisors Solutionspershing.com/who-we-serve/registered-investment-advisorsMark Tibergian (Chief Executive Officer)5920.2%$191,000 13.0%$100M
Folio Institutionalfolioinstitutional.comGreg Vigrass (President)4244.2%N/DN/A$25M
LPL Financial LLCLPL.comMatthew Enyedi (Executive Vice President, RIA Solutions)38913.7%$132,000.017.9%None
U.S. Bankusbank.com/itcAlan M Markarian (Senior Vice President)2425.2%$97,000.032.9%$25M
National Advisors Trust Company, FSBnationaladvisorstrust.comJames A. Combs, Jr. (CEO & President)1927.3%$9,856.1-1.2%None
Trust Company of Americatrustamerica.comJoshua Pace (President and CEO)175-16.7%$14,000.02.9%None
RBC Advisor Servicesrbc-as.comBrett Thorne (Head, RBC Correspondent & Advisor Services)1004.2%$14,000.03.3%N/D
DST Market Services, LLCdstmarketservices.comCraig Gordon (Head of Clearing)N/DN/AN/DN/AN/D
Fidelity Clearing & Custody Solutions**fiws.fidelity.comBob Oros (Executive Vice President, Head of RIA Segment)N/DN/AN/DN/AN/D

As of June 30. N/A = not available. N/D = not disclosed. *Figure does not include advisers with less than $150,000 in custody assets. **As of June 30, Fidelity Clearing and Custody had 3,200 total clients and $1.5T in assets. Firm did not break out RIA custody clients and assets from clearing clients and assets.

Source: InvestmentNews Data

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