Each year we run the numbers to see how the ranking of the top 10 independent broker-dealers would change if the networks aggregated their revenue numbers.
LPL Financial remains the industry heavyweight, with $4.3 billion in revenues, and Ameriprise remains in the No. 2 spot, with $3.7 billion in revenues.
But below that point the top rankings change considerably when the networks are considered as single operations. Cetera Financial Group slides down, and Northwestern Mutual, AXA Advisors and Cambridge Investment Research slide out of the top 10 altogether.
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10. Wells Fargo Advisors Financial Network
FP50 Rank: 6
Revenue (000): $810,182
9. Lincoln Financial Network
FP50 Rank: 5
Revenue (000): $816,844
8. Ladenburg Thalmann Financial Services
FP50 Rank: N/A
Revenue (000): $884,860
The network includes the following B-Ds:
Securities America, Triad Advisors, Securities Service Network, Investacorp and KMS Financial Services
7. Commonwealth Financial Network
FP50 Rank: 4
Revenue (000): $950,310
6. National Planning Holdings
FP50 Rank: N/A
Revenue (000): $1,003,145
The network includes the following B-Ds:
INVEST Financial Corporation, Investment Centers of America, National Planning Corporation and SII Investments
5. AIG Advisor Group
FP50 Rank: N/A
Revenue (000): $1,329,139
The network includes the following B-Ds:
FSC Securities Corporation, Royal Alliance Associates, Inc., SagePoint Financial, Inc. and Woodbury Financial Services, Inc.
4. Raymond James Financial Services
FP50 Rank: 3
Revenue (000): $1,564,990
3. Cetera Financial Group
FP50 Rank: N/A
Revenue (000): $2,043,704
The network includes the following B-Ds:
Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services, Cetera Financial Specialists, First Allied Securities, Investors Capital, J.P. Turner and Company, The Legend Group, Summit Brokerage, VSR Financial Services and Girard Securities.
2. Ameriprise Financial
FP50 Rank: 2
Revenue (000): $3,738,345
1. LPL Financial
FP50 Rank: 1
Revenue (000): $4,293,899
