Slideshow IBDs with the highest commission revenue

Published
  • September 06 2016, 3:22pm EDT
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FP50 2016: Which IBDs made the most in commissions?

For the first time since 2009, the 50 biggest independent broker-dealers saw a decline in commission-based revenue. Among the top 10, seven had declining sales growth between 2014 and 2015. Nevertheless, there are still plenty of firms relying on this traditional brokerage model to make money. For example, AXA Advisors rakes in almost four times the revenue from commission accounts than fee accounts. See which firms topped the list and how they stack up year over year.

For more in-depth coverage, please see A shakeout for the nation's-biggest IBDs. Take a deep dive into the data with our list of Top 10 IBDs by revenue growth, the IBDs with the most female reps and IBDs with the highest-fee-based revenue.

Data as of year-end 2015.

10. MML Investors Services

Commission Revenue ($000): $265,803
% Change: -1.6%

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9. Voya Financial Advisors

Commission Revenue ($000): $276,557
% Change: -3.9%

8. Northwestern Mutual Investment Services

Commission Revenue ($000): $282,911
% Change: -0.5%

7. Cetera Advisor Networks

Commission Revenue ($000): $285,271
% Change: -5%

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6. Commonwealth Financial Network

Commission Revenue ($000): $286,544
% Change: -3.3%

5. AXA Advisors

Commission Revenue ($000): $562,003
% Change: 1.6%

4. Lincoln Financial Network

Commission Revenue ($000): $629,192
% Change: 3.5%

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3. Raymond James Financial Services

Commission Revenue ($000): $676,995
% Change: 1.6%

2. Ameriprise Financial Services

Commission Revenue ($000): $1,399,861
% Change: -0.3%

1. LPL Financial

Commission Revenue ($000): $1,920,822
% Change: -7%

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