Largest clearing firms ranked by number of B-D clients

JUN 01, 2012
Top clearing and custody firms for financial advisers
Rank Firm Parent company Main phone Website B-D clients % chg. vs. 2010 Contact Phone Email
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

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