2010 broker-dealer trends and analysis

FEB 17, 2010

Quick hits: Broker-dealer rep headcounts

The independent broker-dealer landscape has changed dramatically over the last year. Below is a quick breakdown of the ten largest independent B-Ds and their total rep headcounts, as well as a chart identifying the ten B-Ds with the largest percentage increase in their rep force over the last year. This is a sample of data gathered by InvestmentNews through its survey of independent broker-dealers, which was conducted in Nov. 2009 through January 2010.

Independent B-Ds with the largest rep count

Click column headers to sort fields

Broker-dealer Total number of reps 1Yr % change 2Yr % change 2009 rep count 2008 rep count
LPL Investment Holdings

12,027

-12%

-7%

13,646

12,890

Metlife Broker Dealer Group

10,147

-1%

--

10,231

--

Ameriprise Financial Services Inc.

10,103

29%

31%

7,830

7,712

Lincoln Financial Network

7,576

3%

--

7,366

--

NYLife Securities LLC

7,150

21%

--

5,932

--

Axa Advisors LLC

5,883

-4%

-4%

6,139

6,119

Northwestern Mutual

5,752

-1%

-4%

5,819

6008

H.D. Vest Financial Services

5,175

-6%

0%

5,486

5,200

AIG Advisor Group Inc.

4,865

-26%

-30%

6,571

6,989

National Planning Holdings Inc.

4,350

22%

22%

3,569

3,570

View comparison chart here.

Broker-dealer trends and analysis. Want more of InvestmentNews' exclusive independent broker-deaer info? For an expanded set of our B-D profiles--which includes contact information, plus historical analysis of B-D's individual recruiting behaviors and use of custodians--please contact Kristen Hensely at [email protected] or 212-210-045.

Largest increase (%) in reps

Click column headers to sort fields

Broker-dealer Rep count 1Yr % change 2Yr % change 2009 rep count 2008 rep count
Spire Investment Partners LLC

49

172%

--

18

--

Summit Brokerage Services Inc.

350

59%

73%

220

202

brokersXpress LLC

300

50%

50%

200

200

Park Avenue Securities LLC

2,988

34%

10%

2,234

2,710

Girard Securities Inc.

200

33%

60%

150

--

BCG Securities Inc.

60

33%

--

45

125

First Midwest Securities Inc.

212

33%

80%

160

118

Ameriprise Financial Services Inc.

10,103

29%

31%

7,830

7,712

Independent Financial Group

325

25%

--

260

--

National Planning Holdings Inc.*

4,350

22%

22%

3,569

1,750

Securities America Inc.

1,983

21%

13%

1,636

--

View comparison chart here.

Broker-dealer trends and analysis. Want more of InvestmentNews' exclusive independent broker-deaer info? For an expanded set of our B-D profiles--which includes contact information, plus historical analysis of B-D's individual recruiting behaviors and use of custodians--please contact Kristen Hensely at [email protected] or 212-210-0451.

Latest News

Retiree alleges advisor withheld $600K through real estate LLC web
Retiree alleges advisor withheld $600K through real estate LLC web

$1.7M invested from an inheritance. Then the phone went dead.

SEC accuses Linqto chiefs of 'Wizard of Oz' investor deception
SEC accuses Linqto chiefs of 'Wizard of Oz' investor deception

The pre-IPO platform sold $430M in units while allegedly rigging prices behind the scenes.

GLP-1 users are trading retirement savings for their prescriptions
GLP-1 users are trading retirement savings for their prescriptions

A Nationwide survey finds 47% of GLP-1 users have never discussed the drugs’ financial impact with an advisor, even as many dip into savings.

Inspired Healthcare sale price of properties is 59% of $1.2 billion sold by advisors
Inspired Healthcare sale price of properties is 59% of $1.2 billion sold by advisors

The hundreds of millions of dollars from a sale of Inspired Healthcare properties does not mean an immediate windfall for investors.

Class action alleges Webull misled investors about China operations
Class action alleges Webull misled investors about China operations

Its SEC filings said one thing - a congressional probe said another.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

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