| 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 | |||||||||
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
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.
