| Firm | 2016 revenue ($M) | % change vs. 2015 | 2016 commission revenue ($M) | % change vs. 2015 | 2016 fee revenue ($M) | % change vs. 2015 | 2016 other revenue ($M) | % change vs. 2015 | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | LPL Financial | $3,977.4 | -5.4% | $1,681.8 | -12.4% | $1,285.3 | -4.3% | $1,010.4 | 7.7% |
| 2 | Ameriprise Financial Services Inc. | $3,945.0 | 0.7% | $1,331.3 | -4.9% | $1,998.0 | 3.1% | $615.6 | 6.0% |
| 3 | Raymond James Financial Services Inc. | $1,790.2 | 3.4% | $648.4 | -4.2% | $854.7 | 6.5% | $287.0 | 13.6% |
| 4 | Commonwealth Financial Network | $1,068.7 | 6.1% | $276.7 | -3.4% | $644.5 | 7.9% | $147.5 | 19.8% |
| 5 | Wells Fargo Advisors Financial Network | $910.8 | 5.4% | $256.6 | -2.1% | $419.8 | 5.5% | $234.5 | 14.9% |
| 6 | Lincoln Financial Network | $826.3 | -3.3% | $591.4 | -6.0% | $191.9 | 4.4% | $43.1 | 3.4% |
| 7 | AXA Advisors | $727.5 | -2.6% | $536.8 | -4.5% | $158.9 | 2.5% | $31.8 | 6.8% |
| 8 | Cambridge Investment Research Inc. | $711.5 | 1.9% | $241.1 | -3.7% | $388.3 | 5.9% | $82.1 | 1.1% |
| 9 | Securities America Inc. | $535.7 | -2.9% | $229.7 | -8.3% | $248.5 | 2.3% | $57.5 | -1.7% |
| 10 | Cetera Advisor Networks | $519.5 | -7.1% | $246.5 | -13.6% | $210.3 | -7.9% | $62.8 | 38.1% |
| 11 | Waddell & Reed Financial Advisors | $487.4 | -7.4% | $196.4 | -13.5% | $224.5 | -0.5% | $66.5 | -9.5% |
| 12 | Royal Alliance Associates Inc. | $466.8 | 1.2% | $185.8 | -12.6% | $231.5 | 9.8% | $49.5 | 31.6% |
| 13 | Kestra Financial | $423.1 | -1.0% | $180.6 | -10.4% | $197.8 | 10.3% | $44.7 | -4.0% |
| 14 | Voya Financial Advisors Inc. | $393.7 | -3.1% | $252.7 | -8.6% | $124.1 | 7.8% | $16.9 | 15.2% |
| 15 | National Planning Corp. (NPC) | $376.8 | -7.6% | $229.1 | -12.4% | $120.6 | 3.8% | $27.1 | -9.7% |
| 16 | MML Investors Services | $367.6 | -5.4% | $240.0 | -9.7% | $96.7 | 6.2% | $30.9 | -3.0% |
| 17 | Signator Investors Inc. | $357.3 | 17.6% | $264.6 | 13.4% | $80.9 | 31.6% | $11.9 | 29.9% |
| 18 | Securian Financial Services Inc. | $325.6 | 3.3% | $188.6 | -0.1% | $101.0 | 8.1% | $36.2 | 10.0% |
| 19 | HD Vest Investment Services | $316.6 | -1.0% | $150.1 | -4.3% | $129.4 | 0.0% | $37.0 | 11.0% |
| 20 | SagePoint Financial Inc. | $307.6 | -1.5% | $170.0 | -7.0% | $102.8 | 4.8% | $34.8 | 10.7% |
| 21 | Cetera Advisors | $283.1 | -4.9% | $122.9 | -15.2% | $125.2 | -0.3% | $35.1 | 29.5% |
| 22 | Principal Securities Inc. (fka Princor Financial Services Corp.) | $279.3 | -11.1% | $223.9 | -14.6% | $55.4 | 6.7% | $0.0 | N/M |
| 23 | FSC Securities Corp. | $274.1 | -3.3% | $135.7 | -10.8% | $109.0 | 1.9% | $29.4 | 20.8% |
| 24 | Cetera Financial Institutions | $263.0 | -12.4% | $185.6 | -16.6% | $25.9 | -29.2% | $51.5 | 25.3% |
| 25 | Woodbury Financial Services | $253.9 | -2.9% | $175.0 | -8.9% | $53.6 | 11.1% | $25.3 | 20.3% |
| 26 | INVEST Financial Corp. | $249.8 | -4.4% | $160.2 | -7.6% | $68.5 | 5.4% | $21.1 | -8.0% |
| 27 | Lincoln Investment Planning | $232.6 | 3.9% | $109.3 | 2.8% | $115.7 | 3.6% | $7.5 | 33.3% |
| 28 | First Allied Securities Inc. | $227.1 | -17.9% | $124.6 | -28.1% | $67.5 | -8.4% | $34.9 | 18.1% |
| 29 | Triad Advisors Inc. | $173.2 | -5.8% | $70.9 | -16.2% | $88.1 | 14.2% | $14.3 | -36.0% |
| 30 | American Portfolios Financial Services Inc. | $171.5 | -2.7% | $91.7 | -6.9% | $79.8 | 2.5% | $0.0 | N/M |
| 31 | SII Investments Inc. | $169.3 | -4.5% | $93.1 | -11.9% | $64.2 | 11.0% | $12.0 | -13.3% |
| 32 | CUNA Brokerage Services Inc. | $158.0 | 2.4% | $138.7 | 3.1% | $14.8 | -0.7% | $4.5 | -6.3% |
| 33 | Cadaret Grant & Co. Inc. | $149.5 | -6.2% | $104.6 | -9.3% | $41.2 | -2.1% | $3.7 | 85.4% |
| 34 | M Holdings Securities Inc. (M Securities) | $148.0 | -5.4% | $128.7 | -7.3% | $16.1 | 10.9% | $3.2 | 3.0% |
| 35 | Centaurus Financial Inc. | $144.5 | 2.9% | $109.9 | 0.3% | $34.6 | 12.2% | $0.0 | N/M |
| 36 | Summit Brokerage Services Inc. | $144.0 | 29.7% | $90.3 | 24.4% | $35.4 | 28.2% | $18.2 | 68.8% |
| 37 | Transamerica Financial Advisors Inc. | $133.3 | N/A | $90.7 | N/A | $33.0 | N/A | $9.7 | N/A |
| 38 | Ameritas Investment Corp. | $132.1 | -9.8% | $80.0 | -13.6% | $34.5 | -14.6% | $17.6 | 32.0% |
| 39 | Cetera Financial Specialists | $128.8 | -2.6% | $59.0 | -9.2% | $59.7 | -0.6% | $10.2 | 39.1% |
| 40 | Independent Financial Group | $122.9 | -1.2% | $70.9 | -7.2% | $42.0 | 10.3% | $10.0 | 0.1% |
| 41 | Investment Centers of America Inc. | $113.4 | -5.6% | $67.6 | -13.4% | $36.2 | 14.6% | $9.6 | -9.1% |
| 42 | Securities Service Network Inc. | $111.6 | -10.9% | $52.6 | -8.2% | $46.7 | -18.6% | $12.3 | 15.8% |
| 43 | NEXT Financial Group Inc. | $107.8 | -12.7% | $66.2 | -14.7% | $37.0 | -9.7% | $4.6 | -6.5% |
| 44 | Geneos Wealth Management Inc. | $104.5 | -12.0% | $51.7 | -18.2% | $49.1 | -11.7% | $3.7 | N/M |
| 45 | Questar Capital Corp. | $102.6 | -2.9% | $82.0 | -4.4% | $14.8 | -3.5% | $5.8 | 27.2% |
| 46 | ProEquities Inc. | $97.9 | -15.6% | $64.8 | -22.4% | $23.1 | 2.5% | $10.0 | 0.5% |
| 47 | United Planners Financial Services | $97.3 | 2.4% | $52.6 | 0.5% | $44.8 | 17.8% | $0.0 | N/M |
| 48 | KMS Financial Services Inc. | $96.4 | 4.1% | $42.0 | -1.9% | $47.9 | 3.3% | $6.5 | 87.4% |
| 49 | J.W. Cole Financial Inc. | $91.4 | 6.0% | $67.0 | 2.0% | $24.4 | 18.8% | $0.0 | N/M |
| 50 | Investacorp Inc. | $87.8 | -0.6% | $57.4 | -1.2% | $20.7 | -5.3% | $9.7 | 15.9% |
A Nationwide survey finds 47% of GLP-1 users have never discussed the drugs’ financial impact with an advisor, even as many dip into savings.
The hundreds of millions of dollars from a sale of Inspired Healthcare properties does not mean an immediate windfall for investors.
Its SEC filings said one thing - a congressional probe said another.
Sham agreements allegedly padded revenue by 345%.
"Most pre-retirees are uncomfortable making key retirement income decisions without an advisor's help," said Chris Bailey of Cerulli.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
