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Not every independent broker-dealer specializes in high-end clients but many do, at the top and bottom end of the FP50. See which firms reported the highest share of accounts topping $100,000 — and their total client assets. Data is as of year-end 2016. For more in-depth coverage, please see our cover story, A Case for Optimism and list of Top IBDs by revenue growth. We welcome your insights in the comment section.
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9. Signator Investors
Total client assets (millions): $48,000,045
% Accounts >$100K: 14%
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8. LPL Financial
Total client assets (millions): $509,439,416
% Accounts >$100K: 26%
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7. Prospera Financial Services
Total client assets (millions): $1,548,098
% Accounts >$100K: 28%
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6. Commonwealth Financial Network
Total client assets (millions): $114,420,000
% Accounts >$100K: 29%
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5. Northwestern Mutual Investment Services
Total client assets (millions): $68,912,189
% Accounts >$100K: 34%
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4. Cadaret Grant
Total client assets (millions): $7,831,449
% Accounts >$100K: 38%
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3. American Portfolios Financial Services
Total client assets (millions): $21,738,094
% Accounts >$100K: 39%
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2. MML Investors Services
Total client assets (millions): 73,100,000
% Accounts >$100K: 42%
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1. Kovack Securities
Total client assets (millions): $8,264,950
% Accounts >$100K: 47%