| Firm | 2017 % revenue ($M) | % change vs. 2016 | 2017 commission revenue ($M) | % change vs. 2016 | 2017 fee revenue ($M) | % change vs. 2016 | 2017 other revenue ($M) | % change vs. 2016 | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | LPL Financial | $4,281.50 | 5.70% | $1,670.80 | -3.80% | $1,409.20 | 9.30% | $1,201.40 | 17.50% |
| 2 | Ameriprise Financial Services Inc. | $4,260.00 | 8.00% | $1,199.80 | -9.90% | $2,332.60 | 16.70% | $727.60 | 18.20% |
| 3 | Raymond James Financial Services Inc. | $2,071.20 | 15.70% | $671.50 | 3.60% | $1,041.90 | 21.90% | $357.80 | 24.70% |
| 4 | Commonwealth Financial Network | $1,241.60 | 16.20% | $242.60 | -12.30% | $798.30 | 23.90% | $200.70 | 36.00% |
| 5 | MML Investors Services | $1,050.40 | 185.80% | $657.60 | 174.00% | $367.10 | 279.80% | $25.70 | -16.90% |
| 6 | Wells Fargo Advisors Financial Network | $990.80 | 8.80% | $261.80 | 2.00% | $472.40 | 12.50% | $256.60 | 9.40% |
| 7 | Northwestern Mutual Investment Services | $945.40 | 25.00% | $225.90 | 17.60% | $628.50 | 26.10% | $91.10 | 38.60% |
| 8 | Cambridge Investment Research Inc. | $811.40 | 14.00% | $259.80 | 7.80% | $459.80 | 18.40% | $91.80 | 11.80% |
| 9 | AXA Advisors | $786.50 | 8.10% | $557.00 | 3.80% | $194.40 | 22.30% | $35.10 | 10.30% |
| 10 | Lincoln Financial Network | $740.20 | -1.00% | $483.60 | -5.60% | $192.00 | 9.50% | $64.60 | 8.60% |
| 11 | Securities America Inc. | $637.30 | 19.00% | $257.60 | 12.10% | $313.80 | 26.30% | $65.90 | 14.60% |
| 12 | Cetera Advisor Networks | $606.80 | 5.90% | $274.10 | -1.80% | $247.50 | 9.70% | $85.20 | 25.30% |
| 13 | Royal Alliance Associates Inc. | $483.90 | 3.60% | $196.40 | 5.70% | $205.20 | -11.40% | $82.30 | 66.10% |
| 14 | Waddell & Reed Financial Advisors | $476.60 | -2.20% | $172.40 | -12.20% | $235.10 | 4.70% | $69.00 | 3.80% |
| 15 | Kestra Financial Inc. | $475.40 | 12.40% | $187.60 | 3.90% | $245.60 | 24.20% | $42.20 | -5.50% |
| 16 | Voya Financial Advisors Inc. | $429.30 | 9.00% | $260.20 | 3.00% | $147.30 | 18.70% | $21.80 | 28.70% |
| 17 | Signator Investors Inc. | $423.30 | 18.50% | $291.10 | 10.00% | $110.00 | 36.10% | $22.10 | 86.30% |
| 18 | SagePoint Financial Inc. | $351.70 | 14.40% | $180.20 | 6.00% | $109.20 | 6.20% | $62.30 | 78.90% |
| 19 | Cetera Advisors | $351.20 | 23.40% | $151.30 | 22.50% | $152.70 | 22.00% | $47.20 | 31.60% |
| 20 | Securian Financial Services Inc. | $347.20 | 6.60% | $186.10 | -1.40% | $120.50 | 19.30% | $40.70 | 12.40% |
| 21 | Lincoln Investment Planning | $309.70 | 33.20% | $121.30 | 10.90% | $178.00 | 53.80% | $10.40 | 38.40% |
| 22 | Principal Securities Inc. (fka Princor Financial Services Corp.) | $299.70 | 7.30% | $233.90 | 4.50% | $65.80 | 18.70% | $0.10 | N/M |
| 23 | Woodbury Financial Services | $285.60 | 12.50% | $178.60 | 2.10% | $62.40 | 16.30% | $44.60 | 75.90% |
| 24 | Cetera Financial Institutions | $284.00 | 7.90% | $186.80 | 0.70% | $35.30 | 36.10% | $61.90 | 19.90% |
| 25 | FSC Securities Corp. | $281.10 | 2.60% | $136.80 | 0.80% | $92.10 | -15.50% | $52.20 | 77.30% |
| 26 | First Allied Securities Inc. | $231.50 | 3.00% | $119.60 | -5.50% | $75.30 | 11.50% | $36.50 | 19.90% |
| 27 | American Portfolios Financial Services Inc. | $190.10 | 10.90% | $98.90 | 7.90% | $91.20 | 14.30% | $0.00 | N/M |
| 28 | Triad Advisors | $183.90 | 6.10% | $66.50 | -6.20% | $92.10 | 4.60% | $25.30 | 76.70% |
| 29 | CUNA Brokerage Services Inc. | $172.60 | 9.20% | $148.30 | 6.90% | $17.20 | 16.20% | $7.10 | 57.80% |
| 30 | M Holdings Securities Inc. (M Securities) | $165.50 | 11.80% | $136.30 | 5.90% | $22.90 | 42.40% | $6.40 | 98.40% |
| 31 | Summit Brokerage Services Inc. | $161.90 | 12.10% | $87.50 | -3.50% | $51.00 | 44.20% | $23.40 | 27.50% |
| 32 | Cadaret Grant & Co. Inc. | $158.50 | 6.00% | $109.40 | 4.60% | $44.10 | 7.10% | $5.00 | 34.20% |
| 33 | Centaurus Financial Inc. | $147.00 | 1.80% | $110.30 | 0.30% | $36.80 | 6.30% | $0.00 | N/M |
| 34 | Cetera Financial Specialists | $144.20 | 11.90% | $60.60 | 2.70% | $70.30 | 17.70% | $13.30 | 30.80% |
| 35 | Independent Financial Group | $139.30 | 13.30% | $77.30 | 9.00% | $51.10 | 21.70% | $10.90 | 8.80% |
| 36 | Ameritas Investment Corp. | $136.30 | 3.20% | $81.40 | 1.70% | $38.10 | 10.40% | $16.80 | -4.30% |
| 37 | Securities Service Network Inc. | $118.20 | 5.90% | $48.30 | -8.20% | $57.80 | 23.70% | $12.20 | -1.20% |
| 38 | H. Beck Inc. | $114.70 | 6.40% | $75.90 | 4.10% | $31.60 | 15.20% | $7.10 | 0.80% |
| 39 | Geneos Wealth Management Inc. | $111.90 | 7.10% | $40.60 | -21.40% | $67.20 | 36.90% | $4.10 | 9.90% |
| 40 | United Planners Financial Services | $110.90 | 14.00% | $48.20 | -8.30% | $62.80 | 40.20% | $0.00 | N/M |
| 41 | Questar Capital Corp. | $110.70 | 7.90% | $85.40 | 4.20% | $17.40 | 17.40% | $7.90 | 35.10% |
| 42 | J.W. Cole Financial Inc. | $104.60 | 14.40% | $73.20 | 9.20% | $31.40 | 28.70% | $0.00 | N/M |
| 43 | Sigma Financial Corp. | $99.80 | 15.20% | $56.90 | 15.40% | $37.80 | 19.90% | $5.00 | -12.20% |
| 44 | ProEquities Inc. | $98.10 | 0.20% | $60.90 | -6.00% | $26.90 | 16.40% | $10.30 | 2.80% |
| 45 | Transamerica Financial Advisors Inc. | $93.80 | -29.60% | $74.10 | -18.30% | $14.60 | -55.60% | $5.10 | -47.10% |
| 46 | Investacorp Inc. | $92.10 | 4.90% | $57.20 | -0.30% | $22.90 | 10.80% | $11.90 | 23.20% |
| 47 | PlanMember Securities Corp. | $85.60 | 14.10% | $25.30 | -1.70% | $59.70 | 22.50% | $0.60 | 2.40% |
| 48 | Kovack Securities Inc. | $74.60 | 14.10% | $37.30 | 0.10% | $32.50 | 15.40% | $4.80 | N/A |
| 49 | The O.N. Equity Sales Co. | $62.80 | 10.90% | $51.50 | 6.90% | $11.20 | 32.80% | $0.10 | 69.90% |
| 50 | Parkland Securities | $53.20 | 28.90% | $36.60 | 32.60% | $14.10 | 31.30% | $2.60 | -9.90% |
Meanwhile, Raymond James snags Edward Jones advisor in Arizona.
New Morgan Stanley research shows retirement planning is a key area where advice is required.
ASA reacts as regulator drops no-deny policy, freeing firms and individuals to publicly dispute allegations after reaching settlements.
Joel Frank allegedly sold more than $39 million worth of investments in the Equilus Funds to more than 90 investors,
The Charity Parity Act would eliminate a costly IRA rollover requirement that blocks direct charitable transfers from workplace retirement plans.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
