| Firm | 2017 % revenue ($M) | % change vs. 2016 | 2017 commission revenue ($M) | % change vs. 2016 | 2017 fee revenue ($M) | % change vs. 2016 | 2017 other revenue ($M) | % change vs. 2016 | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | LPL Financial | $4,281.50 | 5.70% | $1,670.80 | -3.80% | $1,409.20 | 9.30% | $1,201.40 | 17.50% |
| 2 | Ameriprise Financial Services Inc. | $4,260.00 | 8.00% | $1,199.80 | -9.90% | $2,332.60 | 16.70% | $727.60 | 18.20% |
| 3 | Raymond James Financial Services Inc. | $2,071.20 | 15.70% | $671.50 | 3.60% | $1,041.90 | 21.90% | $357.80 | 24.70% |
| 4 | Commonwealth Financial Network | $1,241.60 | 16.20% | $242.60 | -12.30% | $798.30 | 23.90% | $200.70 | 36.00% |
| 5 | MML Investors Services | $1,050.40 | 185.80% | $657.60 | 174.00% | $367.10 | 279.80% | $25.70 | -16.90% |
| 6 | Wells Fargo Advisors Financial Network | $990.80 | 8.80% | $261.80 | 2.00% | $472.40 | 12.50% | $256.60 | 9.40% |
| 7 | Northwestern Mutual Investment Services | $945.40 | 25.00% | $225.90 | 17.60% | $628.50 | 26.10% | $91.10 | 38.60% |
| 8 | Cambridge Investment Research Inc. | $811.40 | 14.00% | $259.80 | 7.80% | $459.80 | 18.40% | $91.80 | 11.80% |
| 9 | AXA Advisors | $786.50 | 8.10% | $557.00 | 3.80% | $194.40 | 22.30% | $35.10 | 10.30% |
| 10 | Lincoln Financial Network | $740.20 | -1.00% | $483.60 | -5.60% | $192.00 | 9.50% | $64.60 | 8.60% |
| 11 | Securities America Inc. | $637.30 | 19.00% | $257.60 | 12.10% | $313.80 | 26.30% | $65.90 | 14.60% |
| 12 | Cetera Advisor Networks | $606.80 | 5.90% | $274.10 | -1.80% | $247.50 | 9.70% | $85.20 | 25.30% |
| 13 | Royal Alliance Associates Inc. | $483.90 | 3.60% | $196.40 | 5.70% | $205.20 | -11.40% | $82.30 | 66.10% |
| 14 | Waddell & Reed Financial Advisors | $476.60 | -2.20% | $172.40 | -12.20% | $235.10 | 4.70% | $69.00 | 3.80% |
| 15 | Kestra Financial Inc. | $475.40 | 12.40% | $187.60 | 3.90% | $245.60 | 24.20% | $42.20 | -5.50% |
| 16 | Voya Financial Advisors Inc. | $429.30 | 9.00% | $260.20 | 3.00% | $147.30 | 18.70% | $21.80 | 28.70% |
| 17 | Signator Investors Inc. | $423.30 | 18.50% | $291.10 | 10.00% | $110.00 | 36.10% | $22.10 | 86.30% |
| 18 | SagePoint Financial Inc. | $351.70 | 14.40% | $180.20 | 6.00% | $109.20 | 6.20% | $62.30 | 78.90% |
| 19 | Cetera Advisors | $351.20 | 23.40% | $151.30 | 22.50% | $152.70 | 22.00% | $47.20 | 31.60% |
| 20 | Securian Financial Services Inc. | $347.20 | 6.60% | $186.10 | -1.40% | $120.50 | 19.30% | $40.70 | 12.40% |
| 21 | Lincoln Investment Planning | $309.70 | 33.20% | $121.30 | 10.90% | $178.00 | 53.80% | $10.40 | 38.40% |
| 22 | Principal Securities Inc. (fka Princor Financial Services Corp.) | $299.70 | 7.30% | $233.90 | 4.50% | $65.80 | 18.70% | $0.10 | N/M |
| 23 | Woodbury Financial Services | $285.60 | 12.50% | $178.60 | 2.10% | $62.40 | 16.30% | $44.60 | 75.90% |
| 24 | Cetera Financial Institutions | $284.00 | 7.90% | $186.80 | 0.70% | $35.30 | 36.10% | $61.90 | 19.90% |
| 25 | FSC Securities Corp. | $281.10 | 2.60% | $136.80 | 0.80% | $92.10 | -15.50% | $52.20 | 77.30% |
| 26 | First Allied Securities Inc. | $231.50 | 3.00% | $119.60 | -5.50% | $75.30 | 11.50% | $36.50 | 19.90% |
| 27 | American Portfolios Financial Services Inc. | $190.10 | 10.90% | $98.90 | 7.90% | $91.20 | 14.30% | $0.00 | N/M |
| 28 | Triad Advisors | $183.90 | 6.10% | $66.50 | -6.20% | $92.10 | 4.60% | $25.30 | 76.70% |
| 29 | CUNA Brokerage Services Inc. | $172.60 | 9.20% | $148.30 | 6.90% | $17.20 | 16.20% | $7.10 | 57.80% |
| 30 | M Holdings Securities Inc. (M Securities) | $165.50 | 11.80% | $136.30 | 5.90% | $22.90 | 42.40% | $6.40 | 98.40% |
| 31 | Summit Brokerage Services Inc. | $161.90 | 12.10% | $87.50 | -3.50% | $51.00 | 44.20% | $23.40 | 27.50% |
| 32 | Cadaret Grant & Co. Inc. | $158.50 | 6.00% | $109.40 | 4.60% | $44.10 | 7.10% | $5.00 | 34.20% |
| 33 | Centaurus Financial Inc. | $147.00 | 1.80% | $110.30 | 0.30% | $36.80 | 6.30% | $0.00 | N/M |
| 34 | Cetera Financial Specialists | $144.20 | 11.90% | $60.60 | 2.70% | $70.30 | 17.70% | $13.30 | 30.80% |
| 35 | Independent Financial Group | $139.30 | 13.30% | $77.30 | 9.00% | $51.10 | 21.70% | $10.90 | 8.80% |
| 36 | Ameritas Investment Corp. | $136.30 | 3.20% | $81.40 | 1.70% | $38.10 | 10.40% | $16.80 | -4.30% |
| 37 | Securities Service Network Inc. | $118.20 | 5.90% | $48.30 | -8.20% | $57.80 | 23.70% | $12.20 | -1.20% |
| 38 | H. Beck Inc. | $114.70 | 6.40% | $75.90 | 4.10% | $31.60 | 15.20% | $7.10 | 0.80% |
| 39 | Geneos Wealth Management Inc. | $111.90 | 7.10% | $40.60 | -21.40% | $67.20 | 36.90% | $4.10 | 9.90% |
| 40 | United Planners Financial Services | $110.90 | 14.00% | $48.20 | -8.30% | $62.80 | 40.20% | $0.00 | N/M |
| 41 | Questar Capital Corp. | $110.70 | 7.90% | $85.40 | 4.20% | $17.40 | 17.40% | $7.90 | 35.10% |
| 42 | J.W. Cole Financial Inc. | $104.60 | 14.40% | $73.20 | 9.20% | $31.40 | 28.70% | $0.00 | N/M |
| 43 | Sigma Financial Corp. | $99.80 | 15.20% | $56.90 | 15.40% | $37.80 | 19.90% | $5.00 | -12.20% |
| 44 | ProEquities Inc. | $98.10 | 0.20% | $60.90 | -6.00% | $26.90 | 16.40% | $10.30 | 2.80% |
| 45 | Transamerica Financial Advisors Inc. | $93.80 | -29.60% | $74.10 | -18.30% | $14.60 | -55.60% | $5.10 | -47.10% |
| 46 | Investacorp Inc. | $92.10 | 4.90% | $57.20 | -0.30% | $22.90 | 10.80% | $11.90 | 23.20% |
| 47 | PlanMember Securities Corp. | $85.60 | 14.10% | $25.30 | -1.70% | $59.70 | 22.50% | $0.60 | 2.40% |
| 48 | Kovack Securities Inc. | $74.60 | 14.10% | $37.30 | 0.10% | $32.50 | 15.40% | $4.80 | N/A |
| 49 | The O.N. Equity Sales Co. | $62.80 | 10.90% | $51.50 | 6.90% | $11.20 | 32.80% | $0.10 | 69.90% |
| 50 | Parkland Securities | $53.20 | 28.90% | $36.60 | 32.60% | $14.10 | 31.30% | $2.60 | -9.90% |
The acquisition deepens the mega-RIA and largest non-bank wealth manager's push into ultra-high-net-worth advisory as 2026 consolidation hits record levels.
The New York-based aggregator adds a $550 million boutique firm as it steadily builds out its national affiliate network.
Two RIAs expand their geographic footprints with deals in New York's Capital Region and coastal Alabama.
A 27-year Merrill veteran, Florida advisors, and a trio of New Jersey advisors just moved to new platforms.
Broker-dealer expands its model portfolio platform with modular building block strategies designed to give advisors greater customization at scale.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
