Independent broker-dealers boost tech spending

In a survey fielded late this summer, InvestmentNews found that the typical independent broker-dealer spent $13.6 million on technology in 2015, representing 7.1% of their total operating expenses and 2.2% of their annual revenues. With the importance of technology rising, IBDs projected they would end this year, on average, having spent 12% more than last year. And increases are expected to continue in the new year. The survey, which informs these graphics, covers tech plans of IBDs represented by 51 parent firms with medians of $170 million in revenue and 755 affiliated registered representatives in 2015. For more information on firms from whom we collect quarterly data, visit data.investmentnews.com/broker-dealer-data/.