As we compiled this year’s annual FP50 rankings, editors and writers pored through the data for signs of industry change. Several shifts were apparent. One of the most dramatic? A sharp move toward fee-based revenue.

This swing represents “the changing of the guard within the industry,” contributing writer Craig L. Israelsen, who helped analyze the data, tells me. Among the top 50 firms, commission revenue fell by about 2.5%, on average, whereas fee revenue increased by about 10%. Next year, Israelsen expects “more of the same — fee revenue increasing and commission revenue on the decrease.”

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