Fees vs. commissions -- how much do the top independent broker-dealers rely on fee-based revenue?

Here Financial Planning ranks the top IBDs by percentage of fee revenue. The following firms reported the highest portion of fee-based business. See which ones reported over 50% fee revenue.

Data is as of year-end 2014; page through to see the list or click here to see a single-page version.

 

10. United Planners Financial Services
FP50 Rank: 53
Fee Revenue: $33,873,000
% of Total Revenue: 40%

9. Securities America
FP50 Rank: 11
Fee Revenue: $223,800,000
% of Total Revenue: 41.8%

8. Royal Alliance Associates
FP50 Rank: 13
Fee Revenue: $198,195,000
% of Total Revenue: 42.7%

7. Raymond James Financial Services
FP50 Rank: 3
Fee Revenue: $680,180,000
% of Total Revenue: 43.5%

6. KMS Financial Services
FP50 Rank: 52
Fee Revenue: $44,159,000
% of Total Revenue: 46%

5. Geneos Wealth Management
FP50 Rank: 46
Fee Revenue: $54,966,000
% of Total Revenue: 48.8%

4. Cambridge Investment Research
FP50 Rank: 9
Fee Revenue: $332,470,000
% of Total Revenue: 49.2%

3. Northwestern Mutual
FP50 Rank: 7
Fee Revenue: $384,610,000
% of Total Revenue: 51%

2. Commonwealth Financial Network
FP50 Rank: 4
Fee Revenue: $537,267,000
% of Total Revenue: 56.5%

1. PlanMember Securities
FP50 Rank: 58
Fee Revenue: $38,843,000
% of Total Revenue: 58.3%