| 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. | |||
A private partnership, Edward Jones is a giant in the retail brokerage industry with more than 20,000 financial advisors.
Meanwhile, Raymond James and Tritonpoint Partners separately welcomed father-son teams, including a breakaway from UBS in Missouri.
Paul Atkins has asked staff to solicit public comment on novel ETFs, pausing the clock on as many as 24 filings linked to the booming event contracts market.
From 401(k)s to retail funds, Deloitte sees private equity and credit crossing into mainstream investing on two fronts at once.
Big-name defections from Morgan Stanley, UBS, and Merrill Lynch headline a busy two weeks of recruiting for the wirehouse.
Wellington explores how multi strategy hedge funds may enhance diversification
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
