Which independent broker-dealers produce the most revenue?
June 4, 2019 by Tobias Salinger
Small and midsize firms read on at your own risk: The giants of the independent broker-dealer sector are growing rapidly.
Not one of the top 25 firms in annual revenue took a step back in 2018, according to Financial Planning’s annual IBD Elite survey of the largest IBDs. On the contrary, 15 of them generated double-digit increases in business — and five firms’ revenue jumped by 20% or more for the year.
The ranks of IBDs and networks reeling in more than $1 billion in sales added a new member to expand to nine companies, as Northwestern Mutual’s revenue brought it into the top echelon of the sector. Only LPL Financial, the perennial No. 1 firm, topped $5 billion in revenue.