| Firm | Clearing firm(s) used | 2012 total revenue ($M) | |
|---|---|---|---|
| 1 | LPL Financial LLC | Self-clearing | $3,582.7 |
| 2 | Ameriprise Financial Services Inc. | Self-clearing | $2,910.0 |
| 3 | Raymond James Financial Services Inc. | Self-clearing | $1,208.1 |
| 4 | Lincoln Financial Network | National Financial Services LLC, Pershing LLC | $745.2 |
| 5 | Commonwealth Financial Network | National Financial Services LLC, Pershing LLC | $712.1 |
| 6 | Axa Advisors LLC | LPL Financial Custom Clearing Services | $624.6 |
| 7 | Wells Fargo Advisors Financial Network | Self-clearing | $596.5 |
| 8 | Northwestern Mutual | Pershing LLC | $553.6 |
| 9 | MetLife Securities Inc. | Pershing LLC | $537.6 |
| 10 | Cambridge Investment Research Inc. | National Financial Services LLC, Pershing LLC | $461.4 |
| 11 | Securities America Inc. | National Financial Services LLC, Pershing LLC | $400.0 |
| 12 | Royal Alliance Associates Inc. | National Financial Services LLC, Pershing LLC | $388.4 |
| 13 | NFP Advisor Services Group (and affiliates) | National Financial Services LLC | $364.8 |
| 14 | Waddell & Reed Inc. | Pershing LLC | $361.6 |
| 15 | Cetera Advisor Networks | Pershing LLC | $360.5 |
| 16 | National Planning Corp. | Pershing LLC | $346.8 |
| 17 | ING Financial Partners Inc. | Pershing LLC | $339.1 |
| 18 | MML Investors Services LLC | National Financial Services LLC | $336.1 |
| 19 | Securian Financial Services Inc. | Pershing LLC | $291.2 |
| 20 | Signator Investors Inc./John Hancock Financial Network | National Financial Services LLC | $265.0 |
The leadership changes coming in June, which also include wealth management and digital unit heads, come as the firm pushes to offer more comprehensive services.
Strategist sees relatively little risk of the university losing its tax-exempt status, which could pose opportunity for investors with a "longer time horizon."
As the next generation of investors take their turn, advisors have to strike a fine balance between embracing new technology and building human connections.
IFG works with 550 producing advisors and generates about $325 million in annual revenue, said Dave Fischer, the company's co-founder and chief marketing officer.
Five new RIAs are joining the industry coalition promoting firm-level impact across workforce, client, community and environmental goals.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
