| Firm | Clearing firm(s) used | 2012 total revenue ($M) | |
|---|---|---|---|
| 1 | LPL Financial LLC | Self-clearing | $3,582.7 |
| 2 | Ameriprise Financial Services Inc. | Self-clearing | $2,910.0 |
| 3 | Raymond James Financial Services Inc. | Self-clearing | $1,208.1 |
| 4 | Lincoln Financial Network | National Financial Services LLC, Pershing LLC | $745.2 |
| 5 | Commonwealth Financial Network | National Financial Services LLC, Pershing LLC | $712.1 |
| 6 | Axa Advisors LLC | LPL Financial Custom Clearing Services | $624.6 |
| 7 | Wells Fargo Advisors Financial Network | Self-clearing | $596.5 |
| 8 | Northwestern Mutual | Pershing LLC | $553.6 |
| 9 | MetLife Securities Inc. | Pershing LLC | $537.6 |
| 10 | Cambridge Investment Research Inc. | National Financial Services LLC, Pershing LLC | $461.4 |
| 11 | Securities America Inc. | National Financial Services LLC, Pershing LLC | $400.0 |
| 12 | Royal Alliance Associates Inc. | National Financial Services LLC, Pershing LLC | $388.4 |
| 13 | NFP Advisor Services Group (and affiliates) | National Financial Services LLC | $364.8 |
| 14 | Waddell & Reed Inc. | Pershing LLC | $361.6 |
| 15 | Cetera Advisor Networks | Pershing LLC | $360.5 |
| 16 | National Planning Corp. | Pershing LLC | $346.8 |
| 17 | ING Financial Partners Inc. | Pershing LLC | $339.1 |
| 18 | MML Investors Services LLC | National Financial Services LLC | $336.1 |
| 19 | Securian Financial Services Inc. | Pershing LLC | $291.2 |
| 20 | Signator Investors Inc./John Hancock Financial Network | National Financial Services LLC | $265.0 |
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
