| 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. | |||
By listening for what truly matters and where clients want to make a difference, advisors can avoid politics and help build more personal strategies.
JPMorgan and RBC have also welcomed ex-UBS advisors in Texas, while Steward Partners and SpirePoint make new additions in the Sun Belt.
Counsel representing Lisa Cook argued the president's pattern of publicly blasting the Fed calls the foundation for her firing into question.
The two firms violated the Advisers Act and Reg BI by making misleading statements and failing to disclose conflicts to retail and retirement plan investors, according to the regulator.
Elsewhere, two breakaway teams from Morgan Stanley and Merrill unite to form a $2 billion RIA, while a Texas-based independent merges with a Bay Area advisory practice.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
