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FP50 2016: The country’s largest independent broker-dealers
Among the nation’s largest IBDs by revenue, these 20 rise to the top. Only four of them have revenue of more than $1 billion.

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 richest accounts, IBDs with the highest-producing reps and IBDs with the fastest-growing payouts.

Data is as of year-end 2015.