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Fees vs. Commissions: Which IBDs Get the Most Fee Revenue?

How much revenue are independent broker-dealers bringing in from client fees?

As part of its FP50 special report, Financial Planning tracks the breakdown between fee and commission revenue. Here are the IBDs with the highest percentage of fee revenue.

Click through to see which firms topped the list or see a single-page version here.
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1. Founders Financial Securities

FP50 Rank: 71
Fee Revenue (000): $11,672
% of Total Revenue: 64
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2. PlanMember Securities

FP50 Rank: 60
Fee Revenue (000): $33,884
% of Total Revenue: 59.3
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3. Commonwealth Financial Network

FP50 Rank: 4
Fee Revenue (000): $440,381
% of Total Revenue: 53.6
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4. Geneos Wealth Management

FP50 Rank: 47
Fee Revenue (000): $55,576
% of Total Revenue: 53.2
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5. Cambridge Investment Research

FP50 Rank: 8
Fee Revenue (000): $277,686
% of Total Revenue: 48.3
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6. Northwestern Mutual

FP50 Rank: 7
Fee Revenue (000): $308,622
% of Total Revenue: 47.2
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7. Ameriprise Financial

FP50 Rank: 2
Fee Revenue (000): $1,491,487
% of Total Revenue: 46
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8. KMS Financial Services

FP50 Rank: 55
Fee Revenue (000): $35, 722
% of Total Revenue: 45.3
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9. Lincoln Investment Planning

FP50 Rank: 29
Fee Revenue (000): $85,622
% of Total Revenue: 44
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10. Cetera Financial Specialists

FP50 Rank: 45
Fee Revenue (000): $47,208
% of Total Revenue: 41.8
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