Top independent broker-dealers ranked by revenue

Data include a breakdown of fee, commission revenue

Apr 21, 2018 @ 6:00 am

By Ellie Zhu

Firm2017 % revenue ($M)% change vs. 20162017 commission revenue ($M)% change vs. 20162017 fee revenue ($M)% change vs. 20162017 other revenue ($M)% change vs. 2016
1LPL Financial$4,281.50 5.70%$1,670.80 -3.80%$1,409.20 9.30%$1,201.40 17.50%
2Ameriprise Financial Services Inc.$4,260.00 8.00%$1,199.80 -9.90%$2,332.60 16.70%$727.60 18.20%
3Raymond James Financial Services Inc.$2,071.20 15.70%$671.50 3.60%$1,041.90 21.90%$357.80 24.70%
4Commonwealth Financial Network$1,241.60 16.20%$242.60 -12.30%$798.30 23.90%$200.70 36.00%
5MML Investors Services$1,050.40 185.80%$657.60 174.00%$367.10 279.80%$25.70 -16.90%
6Wells Fargo Advisors Financial Network$990.80 8.80%$261.80 2.00%$472.40 12.50%$256.60 9.40%
7Northwestern Mutual Investment Services$945.40 25.00%$225.90 17.60%$628.50 26.10%$91.10 38.60%
8Cambridge Investment Research Inc.$811.40 14.00%$259.80 7.80%$459.80 18.40%$91.80 11.80%
9AXA Advisors$786.50 8.10%$557.00 3.80%$194.40 22.30%$35.10 10.30%
10Lincoln Financial Network$740.20 -1.00%$483.60 -5.60%$192.00 9.50%$64.60 8.60%
11Securities America Inc.$637.30 19.00%$257.60 12.10%$313.80 26.30%$65.90 14.60%
12Cetera Advisor Networks$606.80 5.90%$274.10 -1.80%$247.50 9.70%$85.20 25.30%
13Royal Alliance Associates Inc.$483.90 3.60%$196.40 5.70%$205.20 -11.40%$82.30 66.10%
14Waddell & Reed Financial Advisors$476.60 -2.20%$172.40 -12.20%$235.10 4.70%$69.00 3.80%
15Kestra Financial Inc.$475.40 12.40%$187.60 3.90%$245.60 24.20%$42.20 -5.50%
16Voya Financial Advisors Inc.$429.30 9.00%$260.20 3.00%$147.30 18.70%$21.80 28.70%
17Signator Investors Inc.$423.30 18.50%$291.10 10.00%$110.00 36.10%$22.10 86.30%
18SagePoint Financial Inc.$351.70 14.40%$180.20 6.00%$109.20 6.20%$62.30 78.90%
19Cetera Advisors$351.20 23.40%$151.30 22.50%$152.70 22.00%$47.20 31.60%
20Securian Financial Services Inc.$347.20 6.60%$186.10 -1.40%$120.50 19.30%$40.70 12.40%
21Lincoln Investment Planning$309.70 33.20%$121.30 10.90%$178.00 53.80%$10.40 38.40%
22Principal Securities Inc. (fka Princor Financial Services Corp.)$299.70 7.30%$233.90 4.50%$65.80 18.70%$0.10 N/M
23Woodbury Financial Services$285.60 12.50%$178.60 2.10%$62.40 16.30%$44.60 75.90%
24Cetera Financial Institutions$284.00 7.90%$186.80 0.70%$35.30 36.10%$61.90 19.90%
25FSC Securities Corp.$281.10 2.60%$136.80 0.80%$92.10 -15.50%$52.20 77.30%
26First Allied Securities Inc.$231.50 3.00%$119.60 -5.50%$75.30 11.50%$36.50 19.90%
27American Portfolios Financial Services Inc.$190.10 10.90%$98.90 7.90%$91.20 14.30%$0.00 N/M
28Triad Advisors$183.90 6.10%$66.50 -6.20%$92.10 4.60%$25.30 76.70%
29CUNA Brokerage Services Inc.$172.60 9.20%$148.30 6.90%$17.20 16.20%$7.10 57.80%
30M Holdings Securities Inc. (M Securities)$165.50 11.80%$136.30 5.90%$22.90 42.40%$6.40 98.40%
31Summit Brokerage Services Inc.$161.90 12.10%$87.50 -3.50%$51.00 44.20%$23.40 27.50%
32Cadaret Grant & Co. Inc.$158.50 6.00%$109.40 4.60%$44.10 7.10%$5.00 34.20%
33Centaurus Financial Inc.$147.00 1.80%$110.30 0.30%$36.80 6.30%$0.00 N/M
34Cetera Financial Specialists$144.20 11.90%$60.60 2.70%$70.30 17.70%$13.30 30.80%
35Independent Financial Group$139.30 13.30%$77.30 9.00%$51.10 21.70%$10.90 8.80%
36Ameritas Investment Corp.$136.30 3.20%$81.40 1.70%$38.10 10.40%$16.80 -4.30%
37Securities Service Network Inc.$118.20 5.90%$48.30 -8.20%$57.80 23.70%$12.20 -1.20%
38H. Beck Inc.$114.70 6.40%$75.90 4.10%$31.60 15.20%$7.10 0.80%
39Geneos Wealth Management Inc.$111.90 7.10%$40.60 -21.40%$67.20 36.90%$4.10 9.90%
40United Planners Financial Services$110.90 14.00%$48.20 -8.30%$62.80 40.20%$0.00 N/M
41Questar Capital Corp.$110.70 7.90%$85.40 4.20%$17.40 17.40%$7.90 35.10%
42J.W. Cole Financial Inc.$104.60 14.40%$73.20 9.20%$31.40 28.70%$0.00 N/M
43Sigma Financial Corp.$99.80 15.20%$56.90 15.40%$37.80 19.90%$5.00 -12.20%
44ProEquities Inc.$98.10 0.20%$60.90 -6.00%$26.90 16.40%$10.30 2.80%
45Transamerica Financial Advisors Inc.$93.80 -29.60%$74.10 -18.30%$14.60 -55.60%$5.10 -47.10%
46Investacorp Inc.$92.10 4.90%$57.20 -0.30%$22.90 10.80%$11.90 23.20%
47PlanMember Securities Corp.$85.60 14.10%$25.30 -1.70%$59.70 22.50%$0.60 2.40%
48Kovack Securities Inc.$74.60 14.10%$37.30 0.10%$32.50 15.40%$4.80 N/A
49The O.N. Equity Sales Co.$62.80 10.90%$51.50 6.90%$11.20 32.80%$0.10 69.90%
50Parkland Securities$53.20 28.90%$36.60 32.60%$14.10 31.30%$2.60 -9.90%

0
Comments

What do you think?

View comments

Recommended for you

B-D Data Center

Use InvestmentNews' B-D Data Center to find exclusive information and intelligence about the independent broker-dealer industry.

Rank Broker-dealers by

Upcoming Event

Oct 23

Conference

Women Adviser Summit - San Francisco

The InvestmentNews Women Adviser Summit, a one-day workshop now held in four cities due to popular demand, is uniquely designed for the sophisticated female adviser who wants to take her personal and professional self to the next level.... Learn more

Featured video

INTV

The bizarro world of DOL and SEC rule supporters

Managing editor Christina Nelson talks with senior reporter Mark Schoeff Jr. about why groups that supported the Labor Department's fiduciary rule oppose much of the SEC advice package, and vice versa.

Latest news & opinion

10 least affordable U.S. cities for renters

Based on average salaries and rents, here are the least affordable U.S. cities for renters, according to businessstudent.com.

10 countries where your clients should consider retiring

These countries offer the greatest security for their retirees, according to the 2018 Natixis Global Retirement Index.

10 most affordable U.S. cities for renters

Here are the U.S. cities that are most affordable for renters, according to Business Student.com, which compared the cost of rent to average salaries.

9 best - new - financial adviser jokes

Scroll through for nine new financial adviser laughs.

Captrust, prominent 401(k) advice firm, ramps up its wealth management business

Captrust wants to grow annual revenue from wealth management to 50% from 30% over the next five years.

X

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 investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

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

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print