Clearing firm: Fidelity Clearing and Custody Solutions, Pershing LLC
No. advisers: 390
No. franchises: 273
AUM: $17,478,717,589
Year founded: 1983
Year end: Dec. 31
Company Overview
Securities Service Network is a competitive independent broker dealer and Registered Investment Advisor (SSNAI) with one of the highest payouts in the industry. We genuinely care about the success of each and every one of our customers and take a personal interest in the success of their independent businesses.
Talking Points
Additional Resources
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| No. of reps | — | 390 | 397 |
| No. of reps, male | — | 318 | 324 |
| No. of reps, female | — | 72 | 73 |
| No. of producing reps | — | 330 | 333 |
| No. of producing reps, male | — | 292 | 295 |
| No. of producing reps, female | — | 38 | 38 |
| No. of reps producing $100K-$499K /year | — | 155 | 153 |
| No. of reps producing $500K+ /year | — | 56 | 53 |
| No. of CFPs | — | 101 | 106 |
| No. of full-time employees | — | 65 | 74 |
| No. of fee-based advisers served | — | 211 | 319 |
| Average payout per rep, per year | — | $235,000 | $229,000 |
| Avg. annual production of top 20% reps | — | $978,000 | $1,016,000 |
| Total payout, per year | — | $77,552,000 | $76,392,000 |
| Cost of E&O insurance per rep, per year | — | 4200 | 4200 |
| Affiliation fees charged per rep, per year | — | 4200 | 4200 |
| Affiliation fee coverage | — | Paperless office system, electronic forms with esignature, consolidated positions, CRM integration, product selection tools, supervision, access to asset management, trust services, FMO, insurance, investment banking, advanced planning, employer plan consulting, product/income consulting and practice development | Paperless office system, electronic forms with eSignature, CRM integration, product selection tools, supervision, access to wealth management tools/services (practice development, asset management, FMO, insurance, trust, investment banking, FI trading, retirement plan consulting, retirement income consulting, advanced planning) |
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| Total revenues | — | $101,502,000 | $100,445,000 |
| Commission revenues | — | $48,988,000 | $49,629,000 |
| Securities revenues | — | $1,774,000 | $1,988,000 |
| Securities revenues: Stocks | — | $1,555,000 | $1,796,000 |
| Securities revenues: Bonds | — | $135,000 | $71,000 |
| Securities revenues: ETFs | — | $71,000 | $109,000 |
| Securities revenues: Other | — | $13,000 | $12,000 |
| Mutual fund revenues | — | $16,667,000 | $19,159,000 |
| Annuities revenues | — | $29,299,000 | $27,674,000 |
| Annuities revenues: Fixed | — | $632,000 | $506,000 |
| Annuities revenues: Variable | — | $25,096,000 | $24,238,000 |
| Annuities revenues: Other | — | $3,571,000 | $2,930,000 |
| Insurance revenue | — | $639,000 | $192,000 |
| Insurance revenues: Life | — | — | — |
| Insurance revenues: Disabilities | — | — | — |
| Insurance revenues: LTC | — | — | — |
| Insurance revenues: Other | — | $639,000 | $192,000 |
| Alternative revenues | — | $609,000 | $616,000 |
| Alternative revenues: Hedge funds | — | — | — |
| Alternative revenues: Managed futures | — | — | — |
| Alternative revenues: Private placements | — | — | — |
| Alternative revenues: REITs | — | $245,000 | $199,000 |
| Alternative revenues: Other | — | $364,000 | $417,000 |
| Other commission revenues | — | — | — |
| Fee revenues | — | $37,468,000 | $35,994,000 |
| Fee revenues: Rep-managed accounts | — | $29,762,000 | $29,051,000 |
| Fee revenues: Firm-managed accounts | — | — | — |
| Fee revenues: Outside-managed accounts | — | $7,706,000 | $6,943,000 |
| Fee revenues: Other | — | — | — |
| Total revenues: Other | — | $15,046,000 | $14,822,000 |
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| Total account assets | — | $17,478,717,589 | $14,619,545,071 |
| Fee-based assets | — | $8,072,050,047 | $6,413,050,551 |
| Fee-based assets: Clearing firm | — | $3,814,929,372 | $3,461,910,500 |
| Fee-based assets: Advisory firm platforms | — | $3,775,855,921 | $2,308,690,862 |
| Fee-based assets: Third-party money managers | — | $481,264,753 | $642,449,189 |
| Fee-based assets: Other | — | — | — |
| Total account assets: Other | — | $9,406,667,543 | $8,206,494,520 |
| Average assets per rep | — | $44,817,225 | $36,825,051 |
| Social Media & Mobile | |||
| Allows advisers to use social media | Y | ||
| Social media sites allowed | Facebook | ||
| Dedicated mobile application for advisers? | N | ||
| Primary purpose of mobile application | — | ||
| Software Offered | |||
| Account aggregation software | Albridge Wealth Reporting (Albridge, an affiliate of Pershing) CashEdge (Fiserv) |
||
| Compliance software | RegEd | ||
| CRM | Redtail CRM (Redtail Technology) | ||
| Document management | Built in house/Proprietary | ||
| Financial planning | MoneyGuidePro (PIEtech Inc.) | ||
| Portfolio management | Albridge Wealth Reporting (Albridge, and affiliate of Pershing) | ||
| Portfolio rebalancing | FolioDynamix (FolioDynamix) | ||
| Robo-advice | |||
| Offers robo-advisory platform? | Y | ||
| If not, when plans to offer a robo-platform | — | ||
| Robo-advice services offered | — | ||
| How robo-platform developed | By a third-party developer | ||
| Charge for robo-advisory services? | N | ||
- Notes
- N/A = Not available
- N/D = Not disclosed
- — = Information not available or not disclosed
All 2011-2016 recruitment and staffing data is as of Dec. 31 in the calendar year displayed. Prior year recruitment and staffing data is as of Sept. 30. All financial figures are for firms' year end, unless noted.
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