| 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 |
Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.
The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.
“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.
The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.
Certain foreign banking agreements could force borrowers to absorb Section 899's potential impact, putting some lending relationships at risk.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
