2010 clearing firms trends and analysis

APR 27, 2010
The independent broker-dealer landscape has changed dramatically in recent years. But among the largest independent B-Ds, according to InvestmentNews' annual indie B-D survey, the clearing firms they utilize has remained steady. Below is a ranking of the clearing firms used by the largest independent broker-dealers, according to the last three years of InvestmentNews data.

Clearing Firms

Click column headers to sort fields

3

Clearing firms 2010 - B-D clients* 1Yr % change 2Yr % change 2009 - B-D clients** 2008 - B-D clients***
Pershing LLC

60

15%

46%

52

41

National Financial Services LLC

24

14%

33%

21

18

First Clearing LLC

8

0%

0%

8

8

Self

3

0%

-25%

3

4

RBC Dain

3

50%

50%

2

2

Legent Clearing LLC

50%

200%

2

1

Raymond James & Associates Inc.

2

100%

100%

1

1

Southwest Securities

2

0%

100%

2

1

J.P. Morgan Clearing Corp.

2

-33.3%

0%

3

2

Wedbush Securities

2

0%

0%

2

2

LPL Financial

1

0%

0%

1

1

optionsXpress

1

0%

-

1

0

The Charles Schwab Corp.

1

-

-

0

0

Wells Fargo Investments LLC

1

0%

0%

1

1

Fortis Clearing America LLC

1

-

-

0

0

View chart here.

* Based on the 2010 InvestmentNews independent broker-dealer survey. Ninety independent broker-dealers responded to this year's survey.


** Based on the 2009 InvestmentNews independent broker-dealer survey. Ninety independent broker-dealers responded to this year's survey.


*** Based on the 2008 InvestmentNews independent broker-dealer survey. Ninety-two independent broker-dealers responded to this year's survey.



Want more of InvestmentNews' exclusive independent broker-dealer 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 Hensley at [email protected] or 212-210-0451.

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