FEATURE - Financial Advisor

FEATURE | BROKER-DEALER REVIEW AND RANKING

FA's 2018 B-D Ranking (By Gross Revenue)

2017 GROSS REVENUE RANK

FIRM NAME

NUMBER OF PRODUCING

REPS

GROSS REVENUE

2017 ($MM)

1

LPL Financial

2

Ameriprise Financial Services

3

Raymond James Financial Services

4

Commonwealth Financial Network

5

MML Investors Services

6

Northwestern Mutual Investment Services

7

Cambridge Investment Research

8

AXA Advisors

9

Lincoln Financial Network

10

Securities America***

11

Cetera Advisor Networks**

12

Royal Alliance Associates*

13

Kestra Investment Services

14

Signator Investors

15

Voya Financial Advisors

16

SagePoint Financial*

17

Cetera Advisors**

18

HD Vest Financial Services

19

Securian Financial Services

20

Lincoln Investment Planning

21

Principal Securities

22

Woodbury Financial Services*

23

FSC Securities Corporation*

24

Cetera Financial Institutions**

25

First Allied Securities**

26

Triad Advisors***

27

CUNA Brokerage Services

28

CUSO Financial Services/Sorrento Pacific Financial

29

M Holdings Securities

30

American Portfolios Financial Services

31

Cadaret, Grant & Company

32

Summit Brokerage Services**

33

Centaurus Financial

34

Cetera Financial Specialists**

35

Independent Financial Group

36

Ameritas Investment Corporation

37

Securities Service Network***

38

H. Beck

39

Geneos Wealth Management

40

Questar Capital Corp./Questar Asset Management

41

United Planners Financial Services

42

ProEquities

43

J.W. Cole Financial

44

Sigma Financial Corporation

45

NEXT Financial Group

46

Transamerica Financial Advisors

47

PlanMember Securities Corporation

48

Investacorp***

49

Kovack Securities

50

SA Stone Wealth Management

51

The O.N. Equity Sales Company

52

Parkland Securities

15,210 7,686 3,960 1,778 8,628 4,984 3,175 4,668 8,927 2,506 2,586 1,631 1,339 2,007 1,800 1,324 1, 287 3,997 1,134

1107 1,593 1,113

937 1,654

628 601 428 588 554 695 660 487 628 1,130 550 1,030 355 561 268 640 439 700 407 577 540 3,260 454 479 415 465 642 356

4,281.5 4,260.0 2,071.2 1,241.6 1,050.7

949.7 811.4 786.5 740.2 637.3 605.4 482.1 475.4 423.3 368.3 351.1 349.4 348.6 347.2 309.7 299.6 284.3 280.9 280.5 227.9 183.9 172.6 169.7 165.5 162.9 158.5 156.9 147.0 143.2 139.3 136.2 118.2 114.7 113.0 110.7 110.5 109.3 104.6 99.8

95.1 92.2 85.7 80.1 74.6 72.9 62.8 53.4

*A Member Of Advisor Group. **A Member Of Cetera Financial Group. ***A Member Of Ladenburg Thalmann.

GROSS REVENUE PER REP

2017

281,491 554,253 523,041 698,297 121,777 190,548 262,588 168,493

N/A 280,496 234,096 295,583 355,054 203,501 204,620 265,192

271,511 87,220 306,173 279,000 188,101 255,401 299,745 169,584 362,839 305,959 403,271 317,261 298,800 234,436 240,130 322,153 234,121 126,724 253,227 132,280 333,024 204,453 421,559 172,950 257,000 145,700 257,000 172,923 184,211 28,289 189,000 167,300 179,735 157,000 97,860 108,373

FIRM PAYOUT %

2017

AUM 2017 ($MM)

87% up to 91%

84.6% up to 95%

86.9% up to 85% up to 100% up to 92.5% up to 90% up to 95%

89.9% 94.3%

92% up to 94%

85.2% 92.1% 87.5% up to 90% 88%

N/A 79% 89.6% 92.4% 86.1% 83.7% 90% up to 42% up to 92% 95% - 97% 90% 90% 85.4% up to 90% 74.5% 91% 85.7% up to 95% 87.8% 88% 90% 90% up to 92% up to 92% up to 94% 88% 87% up to 90% 85% and up 90% up to 95% up to 92% up to 94%

272,997.1 N/A

282,941.4 156,037.7 42,600.0 152,248.3 94,243.5 136,628.0 28,582.0 86,850.0 90,354.2 66,590.3 23,640.1 61,400.0 50,806.9 45,705.4

41,178.7 43,666.8 35,456.9 35,916.0 39,193.2 38,561.7 38,799.2 37,731.6 31,696.9 26,154.4 21,795.7 30,336.2 50,900.0 24,648.6 23,363.0 17,682.3

2,926.1 22,486.4 18,710.0

4,995.7 14,070.4

1,346.7 12,100.0 13,273.7 7,452.3 16,000.0 13,552.5 11,600.0 13,856.0 1,022.7 5,491.0 80,216.0 10,242.0 11,500.0 10,193.2 6,100.0

FEATURE | BROKER-DEALER REVIEW AND RANKING

FA's 2018 B-D Ranking (By Gross Revenue)

2017 GROSS REVENUE RANK

FIRM NAME

NUMBER OF PRODUCING

REPS

GROSS REVENUE

2017 ($MM)

53

Prospera Financial Services

54

The Investment Center

55

The Strategic Financial Alliance

56

Crown Capital Securities

57

LaSalle St. Securities

58

Harbour Investments

59

Kalos Financial

60

cfd Investments

61

David A. Noyes & Company

62

Spire Investment Partners

63

Arete Wealth

64

Founders Financial Securities

65

Fortune Financial Services

66

Gradient Securities

67

Signal Securities

68

Correll Co. Investment Services Corporation

135

52.2

267

50.3

127

50.0

371

46.1

275

45.5

214

43.8

117

35.2

185

32.0

61

28.6

42

26.7

75

25.8

75

25.0

267

16.2

97

11.0

57

6.2

8

1.0

*A Member Of Advisor Group. **A Member Of Cetera Financial Group. ***A Member Of Ladenburg Thalmann.

GROSS REVENUE PER REP

2017

386,855 188,439 365,000 125,362 165,300 204,663 301,045 173,000 468,107 636,394 343,960 332,776

77,524 112,499 118,657 125,000

FIRM PAYOUT %

2017

up to 99% 90%

varies 90%+ up to 92% up to 90% 92% 88% up to 92% up to 95% up to 90% up to 90% up to 90% up to 90% up to 90% up to 90% up to 90%

AUM 2017 ($MM)

7,738.2 6,300.0

880.0 12,349.7 9,000.0 8,500.0

N/A 3,500.0 5,933.7 3,400.0 2,057.2 2,770.0 2,019.6 1,473.3

938.2 200.0

Gross Revenue Per Rep Of Top 5 B-Ds

2017 GROSS REVENUE RANK

FIRM NAME

GROSS REVENUE PER REP

2017

GROSS REVENUE PER REP CHANGE FROM 2016

1

LPL Financial

281,491 1.75%

2

Ameriprise Financial Services

554,253 7.73%

3

Raymond James Financial Services 523,041 8.72%

4

Commonwealth Financial Network 698,297 11.73%

5

MML Investors Services

121,777 23.73%

Gross Revenue Of Top 5 B-Ds

2017 GROSS REVENUE RANK

FIRM NAME

GROSS REVENUE

2017 ($MM)

GROSS REVENUE ($MM) % CHANGE FROM 2016

1

LPL Financial

4,281.5 7.65%

2

Ameriprise Financial Services

4,260.0 7.98%

3

Raymond James Financial Services 2,071.2 12.49%

4

Commonwealth Financial Network

1,241.8 16.20%

5

MML Investors Services

1,050.8 185.69%

A Look At The Leading B-D Networks

FIRM NAME

GROSS REVENUE 2017 (MM$) NETWORK

TOTAL

GROSS REVENUE 2017

(MM$)

CHANGE IN GROSS REVENUE

2017-2016

CHANGE IN NO. OF PRODUCING

REPS FROM 2017-2016

CETERA BROKER-DEALERS Cetera Advisor Networks* Cetera Advisors* Cetera Financial Institutions* First Allied Securities* Summit Brokerage Services* Cetera Financial Specialists*

ADVISOR GROUP BROKER-DEALERS Royal Alliance Associates** SagePoint Financial** Woodbury Financial Services** FSC Securities Corporation**

LADENBURG THALMANN BROKER-DEALERS Securities America*** Triad Advisors*** Securities Service Network*** Investacorp***

1,763.3 1,398.3 1,019.5

605.4 349.4 280.5 227.9 156.9 143.2

482.1 351.1 284.3 280.9

637.3 183.9 118.2

80.1

16.54% 23.42% 6.65% 0.35% 8.96%

11.18%

3.28% 14.14% 11.97% 2.48%

19.01% 6.18% 5.91% -8.77%

*A member of Cetera Financial Group. **A member of Advisor Group. ***Ladenburg Thalmann. KMS did not participate in the survey.

13.02% -5.44% -1.78% -9.25% -11.62% -4.72%

4.15% 2.87% 10.86% -1.58%

13.44% -3.06% 0.28% 8.86%

CHANGE IN AUM 2017-2016

11.14% 10.58% 12.81% 11.74% 0.42% 13.51%

20.22% 18.52% 25.97% 17.28%

31.59% 7.19% 4.79% 2.74%

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