Clearing firm: Charles Schwab, Fidelity Clearing and Custody Solutions, National Financial Services LLC, Pershing LLC, TD Ameritrade
No. advisers: 2,608
No. franchises: 1,861
AUM: $103,000,000,000
Year founded: 1984
Year end: Dec. 31
No. of retail offices: 3,233
Recruitment & Staffing
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| No. of reps | 3,233 | 2,608 | 2,600 |
| No. of reps, male | 2,324 | 1,859 | 1,844 |
| No. of reps, female | 909 | 749 | 756 |
| No. of producing reps | 3,233 | 2,608 | 2,600 |
| No. of producing reps, male | 2,324 | 1,859 | 1,844 |
| No. of producing reps, female | 909 | 749 | 756 |
| No. of reps producing $100K-$499K /year | 1,188 | 1,162 | 1,155 |
| No. of reps producing $500K+ /year | 390 | 367 | 352 |
| No. of CFPs | 747 | 653 | 701 |
| No. of full-time employees | 594 | 702 | 733 |
| No. of fee-based advisers served | 3,166 | 2,501 | 2,330 |
| Average payout per rep, per year | $204,949 | $214,638 | $211,227 |
| Avg. annual production of top 20% reps | $780,763 | $817,923 | $806,930 |
| Total payout, per year | $838,839,000 | $559,777,000 | $541,749,000 |
| Cost of E&O insurance per rep, per year | — | None - Included in Affiliation Fees | None - Included in Affiliation Fees |
| Affiliation fees charged per rep, per year | — | 5400 | 5100 |
| Affiliation fee coverage | — | E&O, cyber insurance and basic technology | E&O, cyber insurance and basic technology |
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| Total revenues | $1,048,900,000 | $729,500,000 | $700,700,000 |
| Commission revenues | $413,150,000 | $311,500,000 | $311,500,000 |
| Securities revenues | $17,900,000 | $12,100,000 | $13,175,000 |
| Securities revenues: Stocks | $16,340,000 | $10,350,000 | $11,600,000 |
| Securities revenues: Bonds | $1,250,000 | $1,500,000 | $1,400,000 |
| Securities revenues: ETFs | — | — | — |
| Securities revenues: Other | $310,000 | $250,000 | $175,000 |
| Mutual fund revenues | $291,730,000 | $214,400,000 | $229,400,000 |
| Annuities revenues | $89,620,000 | $76,900,000 | $61,765,000 |
| Annuities revenues: Fixed | $15,210,000 | $16,000,000 | $10,565,000 |
| Annuities revenues: Variable | $74,410,000 | $60,900,000 | $51,200,000 |
| Annuities revenues: Other | — | — | — |
| Insurance revenue | $11,500,000 | $6,100,000 | $5,600,000 |
| Insurance revenues: Life | $11,500,000 | $6,100,000 | $5,600,000 |
| Insurance revenues: Disabilities | — | — | — |
| Insurance revenues: LTC | — | — | — |
| Insurance revenues: Other | — | — | — |
| Alternative revenues | $2,400,000 | $2,000,000 | $1,560,000 |
| Alternative revenues: Hedge funds | $40,000 | $25,000 | $23,400 |
| Alternative revenues: Managed futures | — | — | — |
| Alternative revenues: Private placements | $200,000 | $200,000 | $191,900 |
| Alternative revenues: REITs | $2,120,000 | $1,750,000 | $1,318,200 |
| Alternative revenues: Other | $40,000 | $25,000 | $26,500 |
| Other commission revenues | — | — | — |
| Fee revenues | $517,980,000 | $319,330,000 | $299,300,000 |
| Fee revenues: Rep-managed accounts | $309,905,000 | $206,230,000 | $191,900,000 |
| Fee revenues: Firm-managed accounts | — | — | — |
| Fee revenues: Outside-managed accounts | $203,370,000 | $109,400,000 | $103,300,000 |
| Fee revenues: Other | $4,705,000 | $3,700,000 | $4,100,000 |
| Total revenues: Other | $117,770,000 | $98,670,000 | $89,900,000 |
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| Total account assets | $145,575,000,000 | $103,000,000,000 | $86,100,000,000 |
| Fee-based assets | $67,575,000,000 | $50,000,000,000 | $39,200,000,000 |
| Fee-based assets: Clearing firm | 0 | — | — |
| Fee-based assets: Advisory firm platforms | $33,450,000,000 | $23,500,000,000 | $19,200,000,000 |
| Fee-based assets: Third-party money managers | $15,425,000,000 | $11,900,000,000 | $9,800,000,000 |
| Fee-based assets: Other | $18,700,000,000 | $14,600,000,000 | $10,200,000,000 |
| Total account assets: Other | $78,000,000,000 | $53,000,000,000 | $46,900,000,000 |
| Average assets per rep | $45,027,838 | $39,493,865 | $33,115,385 |
| Social Media & Mobile | |||
| Allows advisers to use social media | Y | ||
| Social media sites allowed | Facebook | ||
| Dedicated mobile application for advisers? | Y | ||
| Primary purpose of mobile application | Easy access to important client information | ||
| Software Offered | |||
| Account aggregation software | Albridge Wealth Reporting (Albridge, an affiliate of Pershing) AllData Advisor (Morningstar) ByAllAccounts Inc. Envestnet Built in house/Proprietary |
||
| Compliance software | Protegent Surveillance (SunGard Data Systems Inc.) RegEd Smarsh Built in house/Proprietary |
||
| CRM | Built in house/Proprietary Other |
||
| Document management | Built in house/Proprietary | ||
| Financial planning | eMoney360 (eMoney Advisor) Finance Logix (Envestnet) MoneyGuidePro (PIEtech Inc.) Morningstar Advisor Workstation (Morningstar Inc.) Other |
||
| Portfolio management | Albridge Wealth Reporting (Albridge, and affiliate of Pershing) Envestnet (Envestnet) Morningstar Office (Morningstar Inc.) Morningstar Principia CAMS (Morningstar Inc.) Orion Solutions (Orion Advisor Services LLC) Built in house/Proprietary Other |
||
| Portfolio rebalancing | Advisor Rebalancing (Envestnet/Tamarac) Fidelity Wealth Central (Fidelity Institutional Wealth Services) Schwab Portfolio Rebalancer (Schwab Advisor Services) Pershing and NFS products |
||
| 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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