TOP 25 Independent Broker-Dealers

From InvestmentNews - April 2018
  
  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 MutualInvestment 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%