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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%