| 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. | |||
Meanwhile, DPL Financial Partners adds two annuity executives and Prime Capital Financial hires a Mid-Atlantic retirement plan consultant
Andrew Komarow pleaded guilty Thursday in federal court in Hartford to defrauding three financial services companies of close to $3.3 million.
Elsewhere, Cetera picks up a $210 million Connecticut team from MML, while Wells Fargo FiNet adds a San Diego family practice from LPL
Celebrity endorsements, $500M in claimed assets, and a state regulator stepping in.
“We needed to become a more agile and efficient organization,” said American Express CEO Stephen Squeri.
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
