Which IBDs are leading the shift to fee-based revenue?
June 17, 2019 by Tobias Salinger
Some of the smaller firms in the independent broker-dealer sector are helping fuel its giant shift to fee-based business.
Advisory revenue from the top 50 IBDs participating in Financial Planning’s IBD Elite study outpaced commission business for the first time ever in 2017. Last year, the difference between the two business lines became even more pronounced.
The 50 largest firms generated $13.04 billion in fees and $11.18 billion in commissions in 2018 — a discrepancy of $1.86 billion. A year earlier, the spread was only $112.2 million.
Click HERE to read the full story via FinancialPlanning.