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Top 15 Broker-Dealer Firms in 2018
[Image: Nat'l Assoc. of Investment Companies]
A broker-dealer processes orders for clients but also executes trades for its own benefit. In other words, it is a broker when it trades for clients, and it is a dealer when it buys and sells for itself. There are 2 types of broker-dealers:
- a wirehouse, or a firm that sells its own products to customers.
- an independent broker-dealer that sells products from outside sources.
Out of the roster of more than 3,700 broker-dealers (according to FINRA), Investopedia has compiled the top 15 broker-dealer firms as of October 2018 based on assets under management (“AUM”). The site opted not to rank B/D’s by the number of advisors in the firm because this figure does not reveal how much money the firm handles.
|
Top 15 Broker-Dealers 2018 |
|
|
Fidelity Investments |
$6.85 trillion |
|
Charles Schwab |
$1.85 trillion |
|
Wells Fargo Advisors |
$1.6 trillion |
|
TD Ameritrade |
$1.3 trillion |
|
Edward Jones |
$1.10 trillion |
|
Raymond James Financial |
$754 billion |
|
AXA Advisors |
$665 billion |
|
LPL Financial |
$669 billion |
|
Ameriprise Financial |
$485 billion |
|
Voya |
$209 billion |
|
Commonwealth Financial Network |
$156 billion |
|
Northwest Mutual Inv. Services |
$132 billion |
|
Cambridge Investment Research |
$99 billion |
|
Securities America |
$86 billion |
|
Waddell & Reed |
$80.2 billion |
|
[As of October 28, 2018] |
|
