Graphic: Where IBDs are targeting their technology investments

In our annual survey fielded this summer, InvestmentNews found that the typical independent broker-dealer spent $12 million on technology in 2016, representing 7.5% of their total operating expenses and 2.4% of their annual revenues. IBDs projected they would end 2017 having spent 17.3% more than last year on average, while looking ahead to increases in technology spending across the board in 2018. The survey, which informs these graphics, covers tech plans of IBDs represented by 49 parent firms with medians of $141 million in revenue and 811 affiliated registered representatives in 2016. For more information on the firms from which we collect quarterly data, visit data.investmentnews.com/broker-dealer-data.