Product Revenues

Rank Company Commission Rev. $000s % Change Mutual Fund Rev. $000s % Change Securities Rev. $000s % Change Stock Revenue $000 Bond Revenue $000 Annuities Rev. $000s % Change Variable Annuities Rev. $000 Fixed Annuities Rev. $000 Insurance Rev. $000s % Change Long-term Care Rev. $000s Life & Disability Rev. $000s Alternatives Revenue $000s % Change Hedge Fund Rev. $000s REITs Rev. $000s Managed Futures Rev. $000s Fee Revenue $000s % Change Fee Revenue from Reps $000s Fee Revenue from Firm $000s Fee Revenue from Outside $000s % of Fee-Based Business Fee Assets $000s % Reps on Platform
1 LPL Financial 2,065,525 2.0 610,310 7.8 197,974 (4.3) 112,091 85,882 1,016,651 4.8 858,883 157,768 28,210 (2.4) 989 27,220 211,638 (16.0) -- -- -- 1,328,587 12.7 1,270,063 -- 58,524 34.7 67
2 Ameriprise Financial 1,403,564 8.5 669,011 16.3 70,074 3.6 -- -- 404,592 0.9 -- -- 117,890 (3.3) -- -- 132,016 12.0 -- -- -- 1,777,656 19.2 -- -- -- 46.9 -- 100
3 Raymond James Financial Services 669,410 6.1 338,100 6.5 97,430 (0.1) 80,560 16,870 195,030 10.9 165,560 29,470 12,680 (15.1) 12,680 3,010 7.1 680,180 26.7 452,770 221,550 5,860 39.8 83,540,000 91
4 Lincoln Financial Network 608,179 (0.7) 89,293 6.4 4,446 (14.5) -- -- 221,454 3.5 -- -- 262,569 0.3 -- -- 30,418 (36.1) -- -- -- 172,885 14.7 -- -- -- 19.3 -- 0
5 AXA Advisors 553,400 3.4 65,500 4.8 5,400 0.0 3,600 1,800 360,300 (0.6) 360,300 -- 104,800 23.3 -- 104,800 1,504 25.3 202 15,900 -- 141,900 21.1 -- -- 139,800 16.9 16,082,000 63
6 Cetera Advisor Networks 300,220 28.4 128,326 30.2 9,119 9.6 -- -- 120,567 53.9 -- -- 23,191 0.4 -- -- -- 0.0 -- -- -- 222,540 36.9 -- -- -- 31.1 19,788,681 47
7 Commonwealth Financial Network 296,329 4.3 106,556 8.0 10,677 (7.7) 4,329 3,618 118,288 11.5 115,206 3,082 16,754 (8.0) 2,926 13,828 18,713 16.7 522 22,940 1,299 537,267 22.0 462,669 38,565 36,033 52.8 48,422,800 94
8 Voya Financial Advisors 287,703 (2.0) 74,111 (20.5) 7,000 (0.2) 5,908 640 163,859 15.6 150,955 12,904 16,933 (23.4) 169 16,764 -- 0.0 -- 24,168 -- 101,496 27.0 83,381 -- 18,115 20.5 9,928,999 60
9 Northwestern Mutual 284,472 8.2 146,019 8.8 4,324 7.5 3,315 193 -- 0.0 79,725 -- -- 0.0 -- 6,696 -- 0.0 -- -- -- 384,610 24.6 229,383 150,117 2,130 46.1 40,993,117 55
10 MML Investors Services 270,003 4.5 94,178 (2.2) 9,187 19.8 3,401 97 150,491 7.6 146,302 4,190 13,022 9.8 -- -- 3,124 14.7 -- -- -- 83,857 16.7 -- -- 83,857 20.3 13,400,608 53
11 National Planning 269,234 5.0 64,230 8.1 5,716 10.4 4,277 522 166,710 7.8 146,372 13,716 3,094 51.4 102 2,991 29,484 (16.2) -- 20,139 157 107,165 13.9 48,612 -- 58,553 25.0 12,171,544 72
12 Princor Financial Services 262,202 8.9 176,783 11.2 2,627 (4.2) 2,495 131 -- 0.0 63,287 -- 19,506 19.1 -- 19,506 -- 0.0 -- -- -- 46,861 23.1 43,430 -- 3,019 12.3 4,553,657 50
13 Cambridge Investment Research 250,227 6.6 68,018 9.3 14,661 (9.5) 7,784 3,456 107,248 15.3 82,019 849 7,930 5.5 4,186 19,375 7.2 24,882 5,043 332,470 19.7 214,759 38,613 67,218 47.7 36,710,000 82
14 NFP Advisor Services 250,006 4.7 44,894 12.9 3,655 (8.6) 1,341 1,210 88,787 12.1 85,974 2,813 87,350 (4.0) 1,877 85,472 16,023 16.4 551 8,110 418 146,585 20.5 76,786 6,150 47,293 30.7 15,343,589 64
15 Securities America 242,300 2.8 158,200 8.7 15,200 (4.4) 13,480 1,390 49,600 (2.7) 47,850 1,750 3,300 (2.9) -- 3,300 16,000 (19.6) 320 8,960 100 223,800 19.0 101,200 118,200 40.4 21,400,000 86
16 Signator Investors 239,207 8.0 -- 0.0 -- 0.0 -- -- -- 0.0 -- -- -- 0.0 -- -- -- 0.0 -- -- -- 50,222 26.4 -- -- -- 13.7 -- --
17 Royal Alliance Associates 223,376 (5.1) 78,298 10.0 8,041 (14.9) 6,974 1,067 106,936 (3.5) 101,391 848 4,508 18.4 -- 4,508 -- 0.0 -- 22,435 -- 198,195 16.0 156,972 -- 41,223 40.5 22,457,585 69
18 Waddell & Reed Financial Advisors 222,538 15.8 173,880 19.1 3,208 12.1 1,973 304 31,938 1.8 29,580 2,358 13,513 12.5 -- 13,513 -- 0.0 -- -- -- 203,873 27.6 22,793 174,690 309 37.5 17,262,566 96
19 Cetera Financial Institutions 215,738 10.0 57,338 12.7 13,716 0.3 -- -- 101,545 22.0 -- -- 5,805 15.8 -- -- -- 0.0 -- -- -- 31,836 114.8 -- -- -- 6.0 1,487,659 --
20 Transamerica Financial Advisors 203,228 3.8 53,585 10.1 3,872 24.7 2,795 167 117,152 11.0 -- -- 15,972 (31.9) -- -- 2,432 609.0 -- 10,215 -- 61,394 7.8 27,013 7,981 25,921 21.5 7,911,616 36
21 Woodbury Financial Services 198,037 2.0 42,150 16.9 2,349 4.8 2,349 -- 118,706 5.0 112,447 -- 15,885 (27.3) -- 15,885 -- 0.0 -- 18,947 -- 42,150 30.9 21,626 -- 20,889 13.4 4,910,652 65
22 INVEST Financial 194,158 (1.5) 51,576 5.2 7,882 (10.0) 5,723 1,459 103,140 1.0 77,812 18,752 2,569 (5.6) 89 2,413 28,991 (16.1) -- 15,359 48 63,655 19.0 26,542 -- 37,113 20.7 6,594,230 74
23 Securian Financial Services 193,784 4.3 26,236 6.7 800 (5.7) 669 112 62,816 11.1 53,232 1,543 103,933 0.1 1,638 102,295 -- 0.0 -- -- -- 83,091 23.8 53,474 3,351 20,001 24.2 9,783,724 80
24 First Allied Securities 192,033 12.0 36,979 (33.2) 21,986 (14.4) -- -- 70,962 6.1 -- -- 6,570 (22.3) -- -- -- 0.0 -- -- -- 70,728 7.8 -- -- -- 25.0 7,081,702 84
25 SagePoint Financial 178,047 1.5 62,782 11.8 7,985 1.5 6,791 1,194 77,095 (3.4) 76,252 843 6,893 25.6 -- 6,893 -- 0.0 -- 20,559 -- 91,329 20.0 82,609 -- 8,720 28.3 9,362,278 65
26 FSC Securities 165,320 2.5 52,191 7.3 6,105 (11.9) 5,542 563 80,420 10.0 69,229 694 4,158 (8.0) -- 4,158 -- 0.0 -- 20,370 -- 106,248 13.1 83,663 -- 22,585 34.6 13,217,456 51
27 Cetera Advisors 154,456 4.8 41,733 10.5 9,104 0.7 -- -- 62,928 18.6 -- -- 8,900 (3.1) -- -- -- 0.0 -- -- -- 113,585 27.5 -- -- -- 33.2 9,673,064 47
28 HD Vest Financial Services 152,344 5.8 82,717 8.4 10,622 11.7 6,807 475 50,986 1.3 50,986 -- 8,019 2.7 -- -- 2,818 85.2 -- -- -- 120,185 20.1 98,370 16,647 5,108 36.7 9,552,876 43
29 M Holdings Securities 136,642 10.3 5,734 5.1 -- 0.0 472 39 14,033 (6.4) 8,417 439 115,289 12.6 -- 114,668 -- 0.0 -- -- -- 14,400 19.9 -- -- -- 8.0 4,092,657 45
30 CUNA Brokerage Services 128,300 (1.5) 18,986 (4.3) 3,298 (1.7) 2,138 93 69,329 (1.0) 33,206 24,656 8,111 0.5 434 7,677 0.0 15,300 7.7 15,300 9.9 2,130,394 83
31 CUSO Financial Services & Sorrento Pacific Financial 124,630 2.5 40,005 3.1 5,460 3.3 1,163 4,079 71,830 2.9 47,899 23,931 3,493 8.6 309 3,184 0.0 2,671 14,675 41.5 -- -- -- 7.4 14,837,966 --
32 Cadaret, Grant 123,623 7.7 57,373 7.8 9,590 (1.6) 5,466 3,565 52,219 10.9 50,207 780 2,617 (19.8) 310 1,680 -- 0.0 -- 1,823 -- 40,962 14.8 31,492 173 9,297 21.7 3,645,610 65
33 SII Investments 119,735 (4.6) 28,853 6.5 2,877 (5.9) 2,306 217 67,082 4.4 58,039 6,483 1,874 (28.2) 79 1,792 19,049 (33.2) -- 12,856 149 56,536 23.8 22,657 -- 33,880 25.9 6,202,862 83
34 American Portfolios Financial Services 109,828 7.6 31,893 3.4 12,664 (1.9) 7,409 1,216 43,963 11.8 42,339 1,219 1,697 4.5 21 1,676 2,418 143.0 6,731 62 69,354 24.2 46,150 17,388 31.2 4,914,111 56
35 Centaurus Financial 102,492 7.4 18,044 33.9 1,870 7.7 988 106 53,533 5.0 37,040 16,493 5,609 2.2 197 5,412 8,787 3.3 14,651 26,189 32.3 10,428 15,761 15.4 -- 70
36 Ameritas Investment 99,900 (2.4) 26,639 8.4 6,050 (12.0) 1,916 4,133 37,600 (3.1) 32,800 -- 15,596 21.5 -- -- 12,023 (25.2) -- 12,023 -- 38,900 22.7 25,339 -- 13,529 22.8 4,640,064 59
37 H. Beck 93,201 (0.1) 30,805 7.9 3,870 (2.0) 2,665 1,147 42,690 4.1 40,390 120 -- (100.0) -- -- 13,969 (22.0) -- -- -- 26,092 15.6 -- -- -- 18.9 2,200,000 --
38 Triad Advisors 89,218 6.1 -- 0.0 -- 0.0 -- -- -- 0.0 -- -- -- 0.0 -- -- -- 0.0 -- -- -- 76,214 27.0 -- -- -- 36.3 14,303,477 85
39 Questar Capital 87,745 9.7 15,707 5.5 2,552 9.2 -- -- 62,655 12.2 27,253 35,402 514 17.4 -- -- 6,318 (2.6) -- -- -- 10,577 11.3 -- -- -- 9.7 1,134,000 --
40 ProEquities 87,445 1.8 15,039 (3.0) 5,701 11.9 1,555 4,133 22,714 (3.6) 21,818 295 3,503 (14.3) -- -- 1,644 (25.8) -- 6,095 -- 21,838 9.6 -- -- -- 18.2 -- --
41 NEXT Financial Group 83,043 (4.6) 23,913 (3.5) 7,988 (15.9) 5,855 2,187 46,475 5.9 40,672 5,803 1,034 (54.1) -- 1,034 3,632 (45.5) -- 3,632 -- 41,724 17.2 19,732 -- 21,992 28.5 3,673,172 90
42 Investment Centers of America 80,235 (0.5) 24,305 14.5 4,048 (12.6) 3,401 383 32,488 16.4 22,575 8,104 4,979 (8.9) 307 4,477 14,415 (32.8) -- 10,733 127 26,914 31.2 17,740 -- 9,174 19.1 3,067,744 84
43 Independent Financial Group 77,908 19.3 12,830 11.6 2,956 (3.7) 2,250 94 27,308 25.4 25,723 343 1,301 36.9 113 1,189 6,799 49.9 -- 26,714 -- 30,442 35.9 14,917 2,435 13,100 20.7 3,909,920 78
44 Summit Brokerage Services 74,306 14.3 13,789 15.2 15,565 4.5 -- -- 28,897 22.0 -- -- 1,718 16.2 -- -- -- 0.0 -- -- -- 23,282 37.0 -- -- -- 17.4 2,200,000 68
45 Investors Capital 72,786 1.2 16,534 3.8 13,976 (4.8) -- -- 26,506 (0.2) -- -- 4,035 43.4 -- -- -- 0.0 -- -- -- 21,451 18.8 -- -- -- 19.2 2,891,588 59
46 Cetera Financial Specialists 65,713 10.3 44,808 15.6 1,042 (26.3) -- -- 14,194 3.5 -- -- 4,205 (19.1) -- -- -- 0.0 -- -- -- 57,773 22.4 -- -- -- 38.2 5,698,753 73
47 J.P. Turner 64,376 2.5 4,074 57.2 21,186 (19.0) -- -- 9,653 12.1 -- -- 225 130.4 -- -- -- 0.0 -- -- -- 6,380 24.8 -- -- -- 7.2 4,270,000 --
48 Investacorp 62,871 (3.9) 21,876 9.6 5,729 (10.6) 3,986 1,743 23,562 (3.9) -- -- -- 0.0 -- -- 10,374 (28.6) -- -- -- 20,982 18.9 10,958 6,916 3,108 21.0 1,981,500 60
49 Securities Service Network 57,662 (6.6) 21,810 6.7 2,769 5.9 2,375 191 28,724 (9.7) 26,376 119 234 3.1 -- -- 519 0.0 -- 3,606 -- 44,597 8.2 35,777 8,820 40.3 5,968,086 88
50 J.W. Cole Financial 56,915 22.3 16,556 18.0 1,110 16.0 458 476 27,662 8.3 15,988 11,674 4,163 4.8 351 3,812 7,424 262.9 6,815 16,166 27.6 9,331 6,330 17.3 1,836,581 61
51 O.N.Equity Sales 52,922 (2.7) 15,135 4.8 2,167 5.3 813 105 30,670 (0.5) 30,670 -- 250 41.6 -- 250 4,716 (32.2) -- 4,716 -- 7,622 31.9 7,622 9.5 879,752 --
52 VSR Financial Service 52,765 (12.0) 12,707 8.9 3,556 (17.4) -- -- 17,077 (1.9) -- -- 4,066 0.0 -- -- -- 0.0 -- -- -- 47,280 7.8 -- -- -- 43.8 4,918,925 79
53 Geneos Wealth Management 52,590 20.8 2,543 (14.6) 3,050 96.4 1,314 125 10,444 (9.4) 9,885 559 550 (13.3) -- -- 7,916 (11.8) 7,188 286 54,966 (2.0) 32,091 8,500 14,375 52.2 6,500,000 95
54 United Planners Financial Services 47,422 11.1 11,009 23.4 3,387 39.5 3,387 -- 25,405 18.3 25,405 -- 1,694 29.7 -- -- 1,694 0.0 4,234 33,873 4.9 24,063 9,810 39.7 3,757,013 91
55 Hornor, Townsend & Kent 46,891 11.0 19,050 8.5 1,810 13.1 -- -- 20,412 3.6 20,330 80 -- 0.0 -- -- -- 0.0 4,640 19,905 14.1 7,900 12,005 26.1 2,400,000 56
56 Berthel Fisher Financial Services 45,395 (6.2) 13,525 16.4 5,819 (26.6) 5,564 256 5,551 11.4 4,999 317 71 (34.4) 4 5,921 8.9 14,383 12,000 21.8 5,953 3,969 17.2 1,508,000 65
57 KMS Financial Services 43,198 4.9 22,624 (0.6) 2,254 (18.2) -- -- 16,378 4.7 -- -- 57 (10.3) -- -- 5 (26.5) -- -- 5 44,159 23.6 30,583 -- 10,865 40.9 4,746,709 --
58 Kovack Securities 35,178 6.6 6,019 (13.4) 6,315 (4.3) 2,147 708 13,613 22.5 12,588 1,025 475 2.5 24 451 8,756 11.2 8,235 16,730 25.6 9,201 7,528 25.7 1,236,909 75
59 Legend Group 32,491 1.3 24,113 0.9 88 (41.3) -- -- 7,364 5.2 -- -- 926 (16.4) -- -- -- 0.0 -- -- -- 43,569 10.6 -- -- -- 51.8 1,883,850 95
60 Crown Capital Securities 31,639 5.0 8,737 11.1 1,269 (20.2) 917 101 13,613 3.6 13,042 497 249 (39.8) -- 166 2,404 18.0 -- 5,368 -- 10,554 6.8 5,533 -- 5,021 23.4 1,028,607 75
61 The Investment Center 30,309 (8.0) 10,783 2.4 30,309 (8.0) 2,425 3,340 10,934 (7.5) 10,919 15 387 15.7 -- 387 -- 0.0 336 18,413 12.6 11,442 6,971 33.6 1,500,000 68
62 PlanMember Securities 27,994 23.0 10,397 22.5 436 692.7 -- -- 16,146 23.7 16,146 -- 0.0 -- -- 1,016 (6.4) -- 1,016 -- 38,843 14.6 1,161 34,310 3,692 50.7 3,480,000 100
63 LaSalle St. Securities 27,500 (7.2) 12,852 (5.8) 8,150 (3.9) 6,300 2,096 7,400 (1.3) -- -- -- 0.0 -- -- -- 0.0 -- -- -- 6,115 18.4 -- -- -- 15.4 -- 50
64 Harbour Investments 26,989 (3.3) 9,796 3.6 864 (24.1) 830 11 15,340 (4.3) 11,000 650 340 (39.8) 32 308 50 (44.4) 600 9,045 23.1 6,330 2,665 20.4 1,300,000 55
65 Prospera Financial Services 24,149 (12.0) 4,646 0.0 7,907 0.0 3,538 3,331 6,666 0.0 5,333 1,333 1,347 0.0 -- 1,347 3,155 0.0 3,015 141 17,337 71.6 11,919 -- 5,236 24.3 -- --
66 Broker Financial Services 19,018 9.4 -- 0.0 -- 0.0 -- -- -- 0.0 -- -- -- 0.0 -- -- -- 0.0 -- -- -- 4,680 41.5 -- -- -- 14.0 -- --
67 Larson Financial 13,781 (17.7) 5 43.2 100 12.6 713 2.0 713 -- 11,610 (26.2) -- 11,610 -- 0.0 -- -- -- 6,258 74.6 -- 6,203 55 17.9 628,450 100
68 Founders Financial Securities 6,783 9.4 -- 0.0 -- 0.0 -- -- -- 0.0 -- -- -- 0.0 -- -- -- 0.0 -- -- -- 14,337 25.0 -- -- -- 54.3 867,524 90
69 Securities Management & Research 2,926 4.5 1,604 12.5 4 98.2 4 -- 1,176 (8.1) 1,176 72 (5.2) -- -- 6 393.3 262 35.2 105 157 6.1 21,000 18
70 Wells Fargo Advisors Financial Network -- 0.0 -- 0.0 -- 0.0 -- -- -- 0.0 -- -- -- 0.0 -- -- -- 0.0 -- -- -- -- 0.0 -- -- -- 0.0 -- --
-- Does not apply
( ) Indicates negative number
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