FP50 2017 top 10 by fee revenue cover

FP50 2017: Which IBDs netted the most fees?

While overall revenue dropped for 75% of the 50 biggest independent broker-dealers last year, fee revenue rose for a greater number: 80%. See which firms' fee revenue topped the list, and which firm is looking ready to topple the long-time No. 1 firm.

For more in-depth coverage, please see A Case for Optimism. Take a deep dive into the data with our list of Top IBDs by revenue growth, and see which firms have the most female representatives. Data as of year-end 2016.
FP 50 2017 Cetera Advisor Networks fees

10. Cetera Advisor Networks

Fee revenue: $210.3 million
% change from 2015: (7.9%)
FP50 2017 Waddell & Reed fees

9. Waddell & Reed Financial Advisors

Fee revenue: $224.5 million
% change from 2015: (0.5%)
FP50 2017 Royal Alliance fees

8. Royal Alliance Associates

Fee revenue: $231.5 million
% change from 2015: 9.8%
FP50 2017 Securities America fees

7. Securities America

Fee revenue: $248.5 million
% change from 2015: 2.3%
FP 50 2017 Cambridge Investment Research fees

6. Cambridge Investment Research

Fee revenue: $388.3 million
% change from 2015: 5.9%
FP50 2017 Northwestern Mutual fees

5. Northwestern Mutual Investment Services

Fee revenue: $498.4 million
% change from 2015: 13.4%
FP50 2017 Commonwealth Financial fees

4. Commonwealth Financial Network

Fee revenue: $644.5 million
% change from 2015: 7.9%
FP 50 2017 Raymond James fees

3. Raymond James Financial Services

Fee revenue: $854.7 million
% change from 2015: 6.5%
FP 2017 LPL fees

2. LPL Financial

Fee revenue: $1.285 billion
% change from 2015: (4.3%)
FP 50 2017 Ameriprise fees

1. Ameriprise Financial

Fee revenue: $1.998 billion
% change from 2015: 3.1%
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