| Rank | Firm | Parent company | Main phone | Website | B-D clients | % chg. vs. 2010 | Contact | Phone | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Pershing LLC | (201) 413-1000 | pershing.com | 836* | 5.3% | James T. Crowley, managing director | (201) 413-2564 | [email protected] | |
| 2 | Penson Worldwide Inc. | (214) 765-1100 | penson.com | 437 | 10.1% | Sean Malloy, senior vice president of sales and marketing | (212) 273-6835 | [email protected] | |
| 3 | National Financial Services LLC | Fidelity Investments | (877) 262-5950 | nationalfinancial.com | 267 | -11.3% | Joe Kelly, head of sales | (617) 563-8738 | [email protected] |
| 4 | Broadcort & Merrill Lynch Professional Clearing Corp. | Bank of America Merrill Lynch | (800) 246-0561 | broadcort.com | 255 | 13.8% | Michael Bird, managing director at Broadcort; Gary Yetman, managing director at MLPro | (646) 855-3507; (212) 670-5019 | [email protected]; [email protected] |
| 5 | J.P. Morgan Clearing Corp. | (212) 552-1765 | jpmorgan.com/bds | 211 | 5.5% | Curt Richmond, managing director | (212) 552-1765 | [email protected] | |
| 6 | Goldman Sachs Execution and Clearing LP | (212) 357-2266 | gsec.com | 175 | -34.0% | Kyle Czepiel, managing director | (212) 357-2802 | [email protected] | |
| 7 | RBC Correspondent Services | Royal Bank of Canada | (612) 371-7776 | rbc-cs.com | 170 | 0.0% | Craig Gordon, director | (612) 371-7776 | [email protected] |
| 8 | Southwest Securities Inc. | SWS Group Inc. | (877) 797-6613 | swsclearing.com | 165 | -9.8% | Paul Vinton, executive vice president | (877) 797-6613 | [email protected] |
| 9 | Wedbush Securities Inc. | Wedbush Inc. | (213) 688-8000 | wedbush.com | 160 | 0.0% | Jeff Martin, senior vice president of advanced clearing services | (213) 688-4567 | [email protected] |
| 10 | Sterne Agee Clearing Inc. | Sterne Agee & Leach Inc. | (561) 368-4355 | sterneagee.com | 110 | 0.0% | Dennis Ferguson, president | (800) 264-4863 | [email protected] |
| 11 | First Clearing LLC | Wells Fargo Advisors LLC | (888) 322-2532 | firstclearing.com | 93 | -13.9% | David L. Williams, managing director | (888) 322-2532 | [email protected] |
| 12 | Mesirow Financial Inc. | (312) 595-6000 | mesirowfinancial.com | 85 | 0.0% | Ruth C. Hannenberg, senior managing director | (312) 595-6239 | [email protected] | |
| 13 | Legent Clearing LLC | (877) 877-0217 | legentclearing.com | 80 | 0.0% | Ray P. Maratea, president; Steve Dripchak, vice president of sales | (630) 592-4848; (866) 770-0218 | [email protected]; [email protected] | |
| 14 | FirstSouthwest Co. | PlainsCapital Corp. | (800) 678-3792 | firstswclearing.com | 75 | 0.0% | Joseph Turk, regional vice president; Paul Bashus, regional vice president | (917) 206-3667; (866) 299-8755 | [email protected]; [email protected] |
| 15 | Raymond James & Associates Inc. | (727) 567-3990 | raymondjames.com/clearing | 38 | 0.0% | Robb Combs, director of correspondent services | (727) 567-3990 | [email protected] | |
| As of June 30. *Number of B-D clients for Pershing LLC includes introducing broker-dealer firms that transitioned from Jefferies & Co. Inc. Source: InvestmentNews | |||||||||
A new proposal could end the ban on promoting client reviews in states like California and Connecticut, giving state-registered advisors a level playing field with their SEC-registered peers.
Morningstar research data show improved retirement trajectories for self-directors and allocators placed in managed accounts.
Some in the industry say that more UBS financial advisors this year will be heading for the exits.
The Wall Street giant has blasted data middlemen as digital freeloaders, but tech firms and consumer advocates are pushing back.
Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.
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.
