Annuity revenue fell for eight of the top 10 sellers on Financial Planning
's annual FP50 ranking of independent broker-dealers. Sales of all kinds of annuities have fallen across the industry to a 16-year low
, and experts attribute much of the dropoff to the fiduciary rule
Still, the No. 1 firm took in more than $915 million last year from annuities, more than twice as much as its nearest competitor. Together, the top 10 firms raked in nearly $2.8 billion in revenue. To get the full list, please click through our slideshow.
For a deep dive into the key issues shaping all types of revenue at IBDs, please see a case for optimism.
Find the fastest growing firms in the space with the list of top IBDs by revenue growth.
And to see the firms leading efforts to increase diversity in wealth management, see which IBDs have the most women advisors?
The companies provided their annual revenue effective Dec. 31, 2016 for FP