Growth in fee revenue continued to outpace growth in commission revenue last year among the top 25 independent broker-dealers.
The top 25 IBDs took in close to $11.7 billion in revenue from fees in 2018, up 14.7% from $10.2 billion in 2017, according to InvestmentNews data, while their revenue from commissions totaled $9.5 billion, up 3.3% from $9.2 billion in 2017.
Here are the 10 IBDs that reported the highest fee revenue last year, along with the growth in their fees and the portion of their total revenue that fees represented.
The data were collected from firms that participated in InvestmentNews' independent broker-dealer survey. Click through to see the firms with the highest fee revenue, and view more IBD data at the Broker-Dealer Data Center.