In face of pandemic, IBDs proved resilient in 2020
Last year, the 25 largest independent broker-dealers reported $26.6 billion in revenue, an increase of 4.3% from 2019. Although financial results were far from spectacular, growth at leading IBDs last year was resilient in the face of the Covid-19 pandemic and the havoc it caused for the broader stock market.
2020 was anything but a typical year for the industry, particularly for service-focused businesses like independent broker-dealers.
Covid-19 caused firms to shut down their offices and send staff home to work. Advisers began learning to click the mute button on Zoom. And adviser recruits st
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