Broker-dealer RIAs
Rank Firm Total assets ($M) Total accounts Discretionary assets ($M) Discretionary accounts Nondiscretionary…
| Rank | Firm | Total assets ($M) | Total accounts | Discretionary assets ($M) | Discretionary accounts | Nondiscretionary assets ($M) | Nondiscretionary accounts |
|---|---|---|---|---|---|---|---|
| 1 | Morgan Stanley | $393,520.4 | 1,403,637 | $210,223.0 | 569,193 | $183,297.4 | 834,444 |
| 2 | Merrill Lynch Pierce Fenner & Smith Inc. | $384,978.8 | 1,349,469 | $211,011.4 | 802,747 | $173,967.4 | 546,722 |
| 3 | Strategic Advisers Inc. | $327,018.4 | 399,118 | $320,717.8 | 397,749 | $6,300.6 | 1,369 |
| 4 | Wells Fargo Advisors LLC | $265,972.2 | 1,047,791 | $141,914.8 | 640,168 | $124,057.4 | 407,623 |
| 5 | UBS Financial Services Inc. | $229,994.4 | 736,563 | $83,767.2 | 199,562 | $146,227.2 | 537,001 |
| 6 | Ameriprise Financial Services Inc. | $124,648.0 | 1,075,946 | $30,987.6 | 307,810 | $93,660.4 | 768,136 |
| 7 | LPL Financial LLC | $94,923.0 | 452,576 | $91,536.0 | 437,175 | $3,387.0 | 15,401 |
| 8 | Cambridge Associates LLC | $83,264.1 | 284 | $7,824.6 | 38 | $75,439.5 | 246 |
| 9 | William Blair & Co. LLC | $52,854.1 | 8,822 | $52,812.2 | 8,804 | $41.9 | 18 |
| 10 | RBC Capital Markets LLC | $50,608.2 | 155,415 | $20,702.8 | 60,544 | $29,905.3 | 94,871 |
| 11 | Robert W. Baird & Co. Inc. | $48,301.0 | 58,470 | $33,237.7 | 36,975 | $15,063.2 | 21,495 |
| 12 | Raymond James & Associates Inc. | $42,088.8 | 156,175 | $31,731.5 | 121,037 | $10,357.3 | 35,138 |
| 13 | Commonwealth Financial Network | $33,354.3 | 157,377 | $32,672.2 | 152,849 | $682.0 | 4,528 |
| 14 | Citigroup Global Markets Inc. | $31,692.6 | 41,382 | $19,574.5 | 8,216 | $12,118.1 | 33,166 |
| 15 | Wells Fargo Advisors Financial Network LLC | $24,995.5 | 97,039 | $15,367.4 | 61,036 | $9,628.1 | 36,003 |
| 16 | Stifel Nicolaus & Co. Inc. | $20,963.5 | 76,429 | $13,862.1 | 45,363 | $7,101.5 | 31,066 |
| 17 | Credit Suisse Securities (USA) LLC | $15,809.3 | 9,935 | $11,712.4 | 8,156 | $4,097.0 | 1,779 |
| 18 | Cambridge Investment Research Advisors Inc. | $15,781.8 | 95,171 | $11,960.3 | 73,697 | $3,821.6 | 21,474 |
| 19 | Cetera Advisor Networks LLC | $13,308.3 | 46,731 | $7,252.1 | 22,974 | $6,056.2 | 23,757 |
| 20 | Janney Montgomery Scott LLC | $12,625.5 | 41,088 | $6,683.3 | 24,267 | $5,942.2 | 16,821 |
| 21 | Oppenheimer & Co. Inc. | $11,517.3 | 15,380 | $4,117.3 | 7,501 | $7,400.0 | 7,879 |
| 22 | Axa Advisors LLC | $11,041.9 | 59,904 | $470.6 | 1,334 | $10,571.3 | 58,570 |
| 23 | Waddell & Reed | $10,079.9 | 94,425 | $107.7 | 422 | $9,972.2 | 94,003 |
| 24 | Morgan Keegan & Co. Inc. | $10,016.3 | 37,166 | $4,925.8 | 20,825 | $5,090.5 | 16,341 |
| 25 | Denver Investments | $9,565.1 | 1,372 | $9,289.1 | 1,325 | $276.1 | 47 |
| 26 | Securities America Advisors Inc. | $9,371.4 | 67,939 | $7,699.8 | 42,068 | $1,671.6 | 25,871 |
| 27 | Lincoln Financial Advisors Corp. | $9,353.3 | 35,138 | $156.5 | 867 | $9,196.8 | 34,271 |
| 28 | NFP Securities Inc. | $9,138.8 | 41,393 | $4,692.7 | 20,867 | $4,446.1 | 20,526 |
| 29 | First Investors Management Co. Inc. | $8,553.6 | 42 | $8,553.6 | 42 | $0.0 | 0 |
| 30 | Edelman Financial Services LLC | $8,545.9 | 43,700 | $8,545.9 | 43,700 | $0.0 | 0 |
| 31 | TIAA-CREF Advice And Planning Services | $7,322.4 | 22,430 | $7,322.4 | 22,430 | $0.0 | 0 |
| 32 | D.A. Davidson & Co. | $7,089.5 | 24,600 | $5,798.6 | 20,527 | $1,290.9 | 4,073 |
| 33 | First Command Financial Planning Inc. | $6,669.8 | 50,505 | $6,669.8 | 50,505 | $0.0 | 0 |
| 34 | Suntrust Investment Services Inc. | $6,526.4 | 17,751 | $2,196.6 | 8,683 | $4,329.9 | 9,068 |
| 35 | Cetera Advisors LLC | $5,859.5 | 29,771 | $3,005.4 | 13,396 | $2,854.1 | 16,375 |
| 36 | MetLife Securities Inc. | $5,713.0 | 48,441 | $1,427.1 | 7,874 | $4,285.9 | 40,567 |
| 37 | Thrivent Investment Management Inc. | $5,525.9 | 25,039 | $846.9 | 5,332 | $4,679.0 | 19,707 |
| 38 | Davenport & Co. LLC | $5,332.8 | 12,784 | $5,136.2 | 12,321 | $196.6 | 463 |
| 39 | ING Financial Partners Inc. | $5,145.7 | 26,622 | $1,085.1 | 6,060 | $4,060.5 | 20,562 |
| 40 | National Planning Corp. | $5,060.5 | 30,284 | $3,002.6 | 16,551 | $2,057.9 | 13,733 |
| 41 | BB&T Securities LLC | $4,925.5 | 11,205 | $4,074.9 | 8,792 | $850.6 | 2,413 |
| 42 | Securian Financial Services Inc. | $4,699.8 | 19,539 | $115.3 | 558 | $4,584.5 | 18,981 |
| 43 | J.J.B. Hilliard W.L. Lyons LLC | $4,656.0 | 15,896 | $2,985.5 | 11,700 | $1,670.4 | 4,196 |
| 44 | Park Avenue Securities LLC | $4,565.5 | 26,832 | $1,303.2 | 8,646 | $3,262.3 | 18,186 |
| 45 | FSC Securities Corp. | $4,199.0 | 20,414 | $1,592.7 | 8,195 | $2,606.3 | 12,219 |
| 46 | Hefren-Tillotson Inc. | $4,132.1 | 7,754 | $2,510.9 | 3,740 | $1,621.1 | 4,014 |
| 47 | Lincoln Investment Planning Inc. | $4,092.6 | 62,892 | $2,590.4 | 35,283 | $1,502.2 | 27,609 |
| 48 | GW & Wade LLC | $3,884.6 | 6,700 | $3,176.0 | 5,400 | $708.6 | 1,300 |
| 49 | Valley Forge Asset Management Corp. | $3,539.1 | 2,375 | $3,345.6 | 2,304 | $193.4 | 71 |
| 50 | Prudential Financial Planning Services | $3,375.7 | 33,219 | $406.8 | 1,108 | $2,968.9 | 32,111 |
| 51 | New England Securities Corp. | $3,288.1 | 26,339 | $468.6 | 2,555 | $2,819.5 | 23,784 |
| 52 | Next Financial Group Inc. | $3,282.0 | 22,773 | $1,397.7 | 7,110 | $1,884.3 | 15,663 |
| 53 | U.S. Bancorp Investments Inc. | $3,210.9 | 14,502 | $0.0 | 0 | $3,210.9 | 14,502 |
| 54 | Transamerica Financial Advisors Inc. | $3,129.3 | 22,479 | $790.2 | 6,867 | $2,339.2 | 15,612 |
| 55 | KMS Financial Services Inc. | $3,124.3 | 15,262 | $1,965.7 | 10,031 | $1,158.6 | 5,231 |
| 56 | Northwestern Mutual Investment Services LLC | $3,017.3 | 15,109 | $3,017.3 | 15,109 | $0.0 | 0 |
| 57 | CliftonLarsonAllen Wealth Advisors LLC | $2,940.0 | 6,757 | $1,828.2 | 4,562 | $1,111.9 | 2,195 |
| 58 | McAdams Wright Ragen Inc. | $2,914.4 | 4,617 | $2,647.5 | 4,033 | $266.9 | 584 |
| 59 | BMO Harris Financial Advisors Inc. | $2,827.0 | 18,085 | $2,827.0 | 18,085 | $0.0 | 0 |
| 60 | VSR Advisory Services | $2,714.4 | 18,731 | $1,219.4 | 8,000 | $1,495.0 | 10,731 |
| 61 | Royal Alliance Associates Inc. | $2,685.5 | 14,270 | $1,010.3 | 5,206 | $1,675.2 | 9,064 |
| 62 | Invest Financial Corp. | $2,678.9 | 13,935 | $1,173.7 | 5,924 | $1,505.2 | 8,011 |
| 63 | Planmember Securities Corp. | $2,605.0 | 53,316 | $2,603.3 | 53,315 | $1.7 | 1 |
| 64 | Cadaret Grant & Co Inc. | $2,571.4 | 14,856 | $2,142.7 | 11,123 | $428.6 | 3,733 |
| 65 | Sagepoint Financial Inc. | $2,569.4 | 16,036 | $1,347.6 | 8,762 | $1,221.8 | 7,274 |
| 66 | Ingalls & Snyder LLC | $2,553.7 | 3,257 | $2,550.4 | 3,250 | $3.3 | 7 |
| 67 | SII Investments Inc. | $2,532.7 | 16,825 | $2,158.1 | 11,016 | $374.5 | 5,809 |
| 68 | Wayne Hummer Investments LLC | $2,349.1 | 2,449 | $1,953.1 | 1,443 | $396.0 | 1,006 |
| 69 | Ameritas Investment Corp | $2,320.7 | 8,076 | $283.2 | 538 | $2,037.5 | 7,538 |
| 70 | Independent Financial Group LLC | $2,261.7 | 14,575 | $2,135.7 | 13,884 | $126.0 | 691 |
| 71 | Essex Financial Services Inc. | $2,145.0 | 4,628 | $739.6 | 1,876 | $1,405.4 | 2,752 |
| 72 | Allegheny Financial Group Ltd. | $2,088.4 | 5,632 | $253.1 | 511 | $1,835.3 | 5,121 |
| 73 | Global Financial Private Capital LLC | $2,043.1 | 27,365 | $2,043.1 | 27,365 | $0.0 | 0 |
| 74 | Investment Advisors | $1,970.8 | 15,784 | $673.5 | 5,192 | $1,297.2 | 10,592 |
| 75 | Benjamin F. Edwards & Company Inc. | $1,946.7 | 7,624 | $1,637.7 | 6,420 | $309.0 | 1,204 |
| 76 | Summit Equities Inc. | $1,920.0 | 5,658 | $1,048.4 | 3,725 | $871.5 | 1,933 |
| 77 | First Financial Equity Corp. | $1,785.3 | 6,083 | $805.8 | 4,496 | $979.6 | 1,587 |
| 78 | Southern Wealth Management LLP | $1,659.6 | 1,115 | $0.0 | 0 | $1,659.6 | 1,115 |
| 79 | Woodbury Financial Services Inc. | $1,594.0 | 9,835 | $94.0 | 548 | $1,500.0 | 9,287 |
| 80 | Signator Investors Inc. | $1,516.7 | 10,605 | $27.5 | 219 | $1,489.2 | 10,386 |
| 81 | Investment Centers Of America Inc. | $1,490.5 | 11,298 | $1,339.1 | 6,117 | $151.4 | 5,181 |
| 82 | United Planners’ Financial Services of America | $1,466.9 | 8,285 | $138.3 | 1,017 | $1,328.6 | 7,268 |
| 83 | Honkamp Krueger Financial Services Inc. | $1,431.5 | 5,379 | $1,431.5 | 5,379 | $0.0 | 0 |
| 84 | H. Beck Inc. | $1,366.8 | 7,871 | $4.8 | 39 | $1,362.0 | 7,832 |
| 85 | Carroll Financial Associates Inc. | $1,364.6 | 3,288 | $1,165.6 | 2,794 | $199.0 | 494 |
| 86 | Gerstein Fisher | $1,357.7 | 5,148 | $1,329.3 | 4,927 | $28.5 | 221 |
| 87 | Synovus Securities Inc. | $1,278.6 | 2,764 | $621.8 | 1,059 | $656.8 | 1,705 |
| 88 | Cetera Investment Services LLC | $1,193.3 | 5,540 | $621.8 | 1,723 | $932.2 | 3,817 |
| 89 | PFG Financial Advisors | $1,144.1 | 4,582 | $421.4 | 1,877 | $722.7 | 2,705 |
| 90 | Financial Concepts Inc. | $1,118.1 | 512 | $101.8 | 398 | $1,016.3 | 114 |
| 91 | Lincoln Financial Securities Corp. | $1,102.3 | 5,900 | $118.3 | 729 | $984.0 | 5,171 |
| 92 | Wedbush Securities Inc. | $1,099.8 | 4,096 | $730.6 | 2,730 | $369.2 | 1,366 |
| 93 | Geneos Wealth Management Inc. | $1,060.4 | 6,268 | $1,059.0 | 6,264 | $1.5 | 4 |
| 94 | Stratos Wealth Partners Ltd. | $1,059.2 | 5,438 | $860.7 | 4,213 | $198.4 | 1,225 |
| 95 | Mcdonald Partners LLC | $1,045.8 | 2,250 | $329.7 | 812 | $716.1 | 1,438 |
| 96 | Henssler Financial | $1,042.5 | 3,963 | $858.6 | 2,404 | $183.9 | 1,559 |
| 97 | Northwest Asset Management | $1,023.6 | 4,638 | $1,006.0 | 4,620 | $17.5 | 18 |
| 98 | Thoroughbred Financial Services LLC | $1,013.5 | 3,346 | $226.4 | 718 | $787.1 | 2,628 |
| 99 | Cassaday & Co Inc. | $997.4 | 2,776 | $992.9 | 2,772 | $4.5 | 4 |
| 100 | Sequoia Financial Advisors LLC | $985.3 | 2,945 | $753.1 | 2,894 | $232.2 | 51 |
Source: InvestmentNews Data
Learn more about reprints and licensing for this article.
