Numbers Game

Numbers Gameblog

Latest research and trends from around the financial advisory business, updated regularly highlighting stats, charts, infographics and all things data.

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 Row(800)
RBC Correspondent Servicesrbc-cs.com1873.90%Greg Plifka(888)
Hilltop Securities Inc.HilltopSecurities.com17831.90%Lana Calton(214)
COR Clearing LLCcorclearing.com1022.00%Michael Scaplen(732)
Apex Clearing Corp.apexclearing.com10025.00%Scott Daspin(214)
Wedbush Securities Inc.wedbush.com100-16.70%Sean Thompson(213)
First Clearing LLCfirstclearing.com73-5.20%David L. Williams(888)
Sterne Agee Clearing Inc.sterneagee.com50-37.50%Damon B. Joyner(205)
Raymond James & Associates Inc.raymondjamesclearing.com412.50%Robb Combs(813)
LPL Financial LLClpl.com60.00%Matthew Enyedi(858)
DST Market Services, LLCdstmarketservices.comN/DN/ATom Parr(612)
Fidelity Clearing & Custody Solutions*nationalfinancial.comN/DN/ADave Brown(212)
Merrill Lynch Professional Clearing Corp. & Broadcort**broadcort.comN/AN/AAnthony Vella(646)

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 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 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. 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** 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


What do you think?

View comments

Recommended for you

Featured video


The #MeToo movement and the financial advice industry

Attendees at the Women to Watch luncheon commend the #MeToo movement for raising awareness about the issue of sexual harassment and bringing women together.

Latest news & opinion

SEC forging ahead on fiduciary rule despite DOL rule decision in 5th Circuit

Chairman Jay Clayton says 'the sooner the better' when asked when an SEC fiduciary rule will be ready.

What the next market downturn means for small RIAs

Firms that have enjoyed AUM growth because of the runup in stocks may find it hard to adjust to declining revenues if the market suffers a major correction.

DOL fiduciary rule likely to live on despite appeals court loss

Future developments will hinge on whether the Labor Department continues the fight to remake the regulation its own way.

DOL fiduciary rule: Industry reacts to Fifth Circuit ruling

Groups on both sides of the fiduciary debate had plenty to say.

Fifth Circuit Court of Appeals vacates DOL fiduciary rule

In split decision, judges say agency exceeded authority.


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting It'll help us continue to serve you.

Yes, show me how to whitelist

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print