Voices: Why we changed the name of our IBD rankings
June 4, 2019 by Chelsea Emery
It’s been a time of stunning change for independent broker-dealers. Widespread consolidation has shrunk their numbers and RIAs have encroached on their business models. The firms left standing? They are the Elite IBDs. It’s for this reason (among a few others) we changed the name of our annual, exclusive IBD ranking from FP50. While the latter aptly described Financial Planning’s list, IBD Elite more accurately characterizes the nature and business models of firms that have embraced change, transformation, evolution and openness.
“With IBDs consolidating at or nearly as fast as any other sector or industry in our economy, firms are understandably growing more opaque. So I think it’s important to recognize firms that are willing to disclose some or all of this data in a spirit of providing relevant information to the marketplace as ‘elite,’” Senior Editor Tobias Salinger tells me.
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