Where the largest indie B-Ds clear

Clearing firms used by the independent broker-dealers with the most revenue

Jul 15, 2012 @ 12:01 am

  
Rank Firm Clearing firm(s) used 2011 total revenue ($M)
1 LPL Financial Self-clearing $3,338.4
2 Ameriprise Financial Services Inc. Self-clearing $2,841.1
3 Raymond James Financial Services Inc. Self-clearing $1,178.1
4 Lincoln Financial Network National Financial Services , Pershing $784.8
5 Commonwealth Financial Network National Financial Services , Pershing $646.5
6 AXA Advisors LLC LPL Financial Custom Clearing Services $572.5
7 MetLife Securities Inc. Pershing $542.7
8 Wells Fargo Advisors Financial Network First Clearing $519.9
9 Northwestern Mutual Pershing $510.1
10 Securities America Inc. National Financial Services , Pershing $444.3
11 Cambridge Investment Research Inc. National Financial Services , Pershing $396.9
12 Royal Alliance Associates Inc. National Financial Services , Pershing $395.8
13 NFP Advisor Services Group (and affiliates) National Financial Services $369.2
14 Financial Network Investment Corp. Pershing $351.8
15 MML Investors Services LLC National Financial Services $347.4
16 National Planning Corp. Pershing $335.9
17 ING Financial Partners Inc. Pershing $331.2
18 Waddell & Reed Inc. Pershing $330.7
19 Securian Financial Services Inc. Pershing $282.5
20 FSC Securities Corp. National Financial Services , Pershing $264.0
Revenue figures as of firms' year end.
Source: InvestmentNews Data

Featured video

INTV

Regulators' gloves are coming off with cybersecurity. Put up your dukes with these tips

Updated guidelines and some of the first-ever rule enforcements signal that regulators are getting serious about holding firms accountable for data breaches, according to special projects editor Liz Skinner and technology reporter Ryan Neal.

Latest news & opinion

John Bogle, Vanguard founder, dies at 89

The pioneer of low-cost, passive investments died of cancer.

10 biggest breakaways of Q4

Echelon Partners lists the 10 biggest adviser moves out of wirehouses during last year's final quarter.

6 biggest RIA acquisitions of 2018

As M&A involving registered investment advisers hit another record last year, these six deals topped the list

Anatomy of an annuity buyout offer

Readers are invited to comment on whether the columnist should keep or ditch her Ohio National VA contract

Factions emerge in OneFPA overhaul

Critics fear the FPA is trying to take money and power from local chapters, which officials and proponents call overblown.

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