Largest Broker-Dealer Firms

Active broker-dealer firms ranked by FINRA-registered branch-office count, the largest operators by physical footprint. Larger firms naturally accumulate more raw disclosures across more offices, so weigh the size-normalized grade alongside the count.

# Firm OfficesDisclosuresGrade
1 LPL Financial LLC Fort Mill, SC 32,976 289 B
2 Edward Jones St. Louis, MO 18,742 325 B
3 Ameriprise Financial Services, LLC Minneapolis, MN 15,626 184 B
4 Wells Fargo Clearing Services, LLC St. Louis, MO 7,651 489 B
5 J.P. Morgan Securities LLC New York, NY 6,951 547 B
6 UBS Financial Services Inc. Weehawken, NJ 6,346 926 C
7 Osaic Wealth, Inc. Scottsdale, AZ 5,899 82 B
8 PFS Investments Inc. Duluth, GA 5,538 24 B
9 Cetera Wealth Services, LLC El Segundo, CA 4,114 37 B
10 RBC Capital Markets, LLC New York, NY 4,053 490 C
11 MML Investors Services, LLC Springfield, MA 3,871 28 B
12 Morgan Stanley Purchase, NY 3,805 183 B
13 Raymond James Financial Services, Inc. St. Petersburg, FL 3,736 204 B
14 Allstate Financial Services, LLC Lincoln, NE 3,326 5 B
15 Raymond James & Associates, Inc. St. Petersburg, FL 3,107 253 C
16 Thrivent Investment Management Inc. Minneapolis, MN 3,069 8 B
17 Citigroup Global Markets Inc. New York, NY 2,867 1,233 C
18 Cambridge Investment Research, Inc. Fairfield, IA 2,837 19 B
19 Truist Investment Services, Inc. Atlanta, GA 2,629 28 B
20 Commonwealth Financial Network Waltham, MA 2,493 43 B
21 State Farm VP Management Corp. Bloomington, IL 2,490 7 B
22 Farmers Financial Solutions, LLC Westlake Village, CA 2,417 5 B
23 Nylife Securities LLC New York, NY 2,345 20 B
24 Equitable Advisors, LLC New York, NY 2,311 37 B
25 Wells Fargo Advisors Financial Network, LLC St. Louis, MO 2,019 74 B
26 U.S. Bancorp Advisors, LLC St. Paul, MN 1,934 5 B
27 Tiaa-Cref Individual & Institutional Services, LLC New York, NY 1,831 12 B
28 PNC Wealth Management LLC Pittsburgh, PA 1,662 19 B
29 LPL Enterprise, LLC Fort Mill, SC 1,487 3 B
30 Charles Schwab & Co., Inc. Westlake, TX 1,403 318 C
31 Fifth Third Securities, Inc. Cincinnati, OH 1,391 57 B
32 Park Avenue Securities LLC New York, NY 1,317 23 B
33 Robert W. Baird & Co. Incorporated Milwaukee, WI 1,129 75 B
34 Northwestern Mutual Investment Services, LLC Milwaukee, WI 1,077 11 B
35 Principal Securities, Inc. Des Moines, IA 1,061 12 B
36 Citizens Securities, Inc. Johnston, RI 1,046 22 B
37 Osaic Institutions, Inc. Meriden, CT 997 9 B
38 THE Huntington Investment Company Columbus, OH 978 25 B
39 Cetera Advisors LLC Greenwood Village, CO 918 23 B
40 FBL Marketing Services, LLC West Des Moines, IA 915 1 B
41 Neuberger Berman BD LLC New York, NY 783 25 B
42 KEY Investment Services LLC Brooklyn, OH 782 4 B
43 Stifel, Nicolaus & Company, Incorporated St. Louis, MO 757 251 C
44 Fidelity Brokerage Services LLC Smithfield, RI 739 152 C
45 Kestra Investment Services, LLC Austin, TX 713 16 B
46 Country Capital Management Company Bloomington, IL 653 0 A
47 Oppenheimer & Co. Inc. New York, NY 630 284 C
48 Purshe Kaplan Sterling Investments Albany, NY 623 13 B
49 Capital Client Group, Inc. Los Angeles, CA 607 0 A
50 Lincoln Investment Fort Washington, PA 594 7 B
51 Valic Financial Advisors, Inc. Houston, TX 450 20 B
52 Voya Financial Advisors, Inc. Windsor, CT 449 45 C
53 GWN Securities Inc. Palm Beach Gardens, FL 445 2 B
54 Integrity Alliance, LLC. Urbandale, IA 428 4 B
55 Santander Securities LLC Boston, MA 422 19 B
56 United Planners' Financial Services of America a Limited Partner Scottsdale, AZ 417 15 B
57 MWA Financial Services Inc. Rock Island, IL 414 1 B
58 Independent Financial Group, LLC San Diego, CA 395 17 B
59 Money Concepts Capital Corp Palm Beach Gardens, FL 378 11 B
60 Centaurus Financial, Inc. Anaheim, CA 376 26 B
61 Equity Services, Inc. Montpelier, VT 344 10 B
62 Transamerica Financial Advisors, LLC Philadelphia, PA 343 22 B
63 D.A. Davidson & Co. Great Falls, MT 330 48 C
64 J.W. Cole Financial, Inc. Tampa, FL 311 2 B
65 Stonex Securities Inc. Birmingham, AL 309 13 B
66 Hornor, Townsend & Kent, LLC Conshohocken, PA 307 17 B
67 First Citizens Investor Services, Inc. Raleigh, NC 307 6 B
68 William Blair Chicago, IL 303 31 C
69 Planmember Securities Corporation Carpinteria, CA 303 5 B
70 Packerland Brokerage Services, Inc. Green Bay, WI 291 2 B
71 HSBC Securities (USA) Inc. New York City, NY 287 94 C
72 Horace Mann Investors, Inc. Springfield, IL 287 6 B
73 TD Private Client Wealth LLC New York, NY 286 3 B
74 Secu Brokerage Services Raleigh, NC 280 7 B
75 Private Client Services, LLC Louisville, KY 276 1 B
76 Benjamin F. Edwards & Company, Inc. St. Louis, MO 255 3 B
77 First Command Brokerage Services, Inc. Fort Worth, TX 250 8 B
78 Mutual of Omaha Investor Services, Inc. Omaha, NE 249 6 B
79 Foreside Fund Services, LLC Portland, ME 248 0 A
80 Federated Securities Corp. Pittsburgh, PA 234 4 B
81 Navy Federal Investment Services, LLC Vienna, VA 234 0 A
82 Kovack Securities Inc. Ft. Lauderdale, FL 228 10 B
83 &Partners Nashville, TN 225 9 B
84 Bankers Life Securities, Inc. Chicago, IL 222 1 B
85 Parkland Securities, LLC Ann Arbor, MI 217 12 B
86 Janney Montgomery Scott LLC Philadelphia, PA 211 120 C
87 Calton & Associates, Inc. Tampa, FL 205 19 B
88 Ausdal Financial Partners, Inc. Davenport, IA 198 2 B
89 Oneamerica Securities, Inc. Indianapolis, IN 198 6 B
90 M Holdings Securities, Inc. Portland, OR 193 5 B
91 Fortune Financial Services, Inc. Monaca, PA 190 4 B
92 Valmark Securities, Inc. Akron, OH 190 4 B
93 Rockefeller Financial LLC New York, NY 189 1 B
94 Berthel, Fisher & Company Financial Services, Inc. Cedar Rapids, IA 188 42 B
95 THE o.n. Equity Sales Company Cincinnati, OH 186 9 B
96 Arvest Wealth Management Lowell, AR 185 4 B
97 Vanderbilt Securities, LLC Woodbury, NY 179 6 B
98 Harbour Investments, Inc. Madison, WI 175 3 B
99 Vanguard Marketing Corporation Malvern, PA 173 59 C
100 Prospera Financial Services, Inc. Dallas, TX 171 13 B