2010 clearing firms trends and analysis
The independent broker-dealer landscape has changed dramatically in recent years. But among the largest independent B-Ds, according to…
The independent broker-dealer landscape has changed dramatically in recent years. But among the largest independent B-Ds, according to InvestmentNews’ annual indie B-D survey, the clearing firms they utilize has remained steady. Below is a ranking of the clearing firms used by the largest independent broker-dealers, according to the last three years of InvestmentNews data.
Clearing Firms
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| Clearing firms | 2010 – B-D clients* | 1Yr % change | 2Yr % change | 2009 – B-D clients** | 2008 – B-D clients*** |
|---|---|---|---|---|---|
| Pershing LLC |
60 |
15% |
46% |
52 |
41 |
| National Financial Services LLC |
24 |
14% |
33% |
21 |
18 |
| First Clearing LLC |
8 |
0% |
0% |
8 |
8 |
| Self |
3 |
0% |
-25% |
3 |
4 |
| RBC Dain |
3 |
50% |
50% |
2 |
2 |
| Legent Clearing LLC | 3 |
50% |
200% |
2 |
1 |
| Raymond James & Associates Inc. |
2 |
100% |
100% |
1 |
1 |
| Southwest Securities |
2 |
0% |
100% |
2 |
1 |
| J.P. Morgan Clearing Corp. |
2 |
-33.3% |
0% |
3 |
2 |
| Wedbush Securities |
2 |
0% |
0% |
2 |
2 |
| LPL Financial |
1 |
0% |
0% |
1 |
1 |
| optionsXpress |
1 |
0% |
– |
1 |
0 |
| The Charles Schwab Corp. |
1 |
– |
– |
0 |
0 |
| Wells Fargo Investments LLC |
1 |
0% |
0% |
1 |
1 |
| Fortis Clearing America LLC |
1 |
– |
– |
0 |
0 |
| View chart here.
* Based on the 2010 InvestmentNews independent broker-dealer survey. Ninety independent broker-dealers responded to this year’s survey. ** Based on the 2009 InvestmentNews independent broker-dealer survey. Ninety independent broker-dealers responded to this year’s survey. *** Based on the 2008 InvestmentNews independent broker-dealer survey. Ninety-two independent broker-dealers responded to this year’s survey. Want more of InvestmentNews’ exclusive independent broker-dealer info? For an expanded set of our B-D profiles–which includes contact information, plus historical analysis of B-D’s individual recruiting behaviors and use of custodians–please contact Kristen Hensley at [email protected] or 212-210-0451. |
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