Leading IBDs with Highest Earnings in Fees
Independent broker-dealers hit a milestone in 2020 as fees made up half of firms’ total revenue on average for the first time, according to data from InvestmentNews Research, while commissions made up just 35%. The share of IBDs’ revenue coming from fees has risen steadily in the past decade. As recently as 2013, commissions made up 52% of revenue for leading IBDs and fees represented just 34%.
Click through to see the 10 IBDs that earned the highest portion of their revenue from fees last year, along with the growth in those firms’ fees from 2019. These data were collected from firms that participated in InvestmentNews' independent broker-dealer survey. Visit the complete Broker-Dealer Data Center here.