The Top 30 Independent Broker/Dealers in 2016

Many industry rankings of independent broker/dealers focus on total advisor headcount. While that metric can shed light on the size, scale and recruiting prowess of a firm, the business is no longer simply about sheer manpower. Instead, WealthManagement and Cerulli Associates rank firms by average assets per advisor. This approach, we hope, highlights the firms whose business models target top-tier advisors, such as Commonwealth and Kestra Financial (formerly NFP Advisor Services).