Firms with Most Disclosures

The 100 broker-dealer firms with the highest total reported FINRA BrokerCheck disclosures, regulatory events, arbitrations, and civil judicial events combined. Raw counts rise with firm size, so review each firm's size-normalized grade and per-office intensity, not just the headline number.

Disclosure concentration

As of July 2026, these 100 firms are just 0.5% of the 20,055 broker-dealer firms PlainAdvisorCheck tracks, yet they account for 30.5% of every reported disclosure fleet-wide (12,744 of 41,823). The top 10 alone carry 13.5% of all disclosures (5,630). Disciplinary history on FINRA BrokerCheck is heavily concentrated in a small tail of firms, not spread evenly across the industry.

# Firm DisclosuresOfficesGrade
1 Citigroup Global Markets Inc. New York, NY 1,233 2,867 C
2 UBS Financial Services Inc. Weehawken, NJ 926 6,346 C
3 Morgan Stanley & Co. LLC New York, NY 552 44 F
4 J.P. Morgan Securities LLC New York, NY 547 6,951 B
5 RBC Capital Markets, LLC New York, NY 490 4,053 C
6 Wells Fargo Clearing Services, LLC St. Louis, MO 489 7,651 B
7 Goldman Sachs & Co. LLC New York, NY 433 37 D
8 Edward Jones St. Louis, MO 325 18,742 B
9 Charles Schwab & Co., Inc. Westlake, TX 318 1,403 C
10 UBS Securities LLC New York, NY 317 39 D
11 Deutsche Bank Securities Inc. New York, NY 307 9 F
12 LPL Financial LLC Fort Mill, SC 289 32,976 B
13 Oppenheimer & Co. Inc. New York, NY 284 630 C
14 Raymond James & Associates, Inc. St. Petersburg, FL 253 3,107 C
15 Stifel, Nicolaus & Company, Incorporated St. Louis, MO 251 757 C
16 Wedbush Securities Inc. Pasadena, CA 212 152 D
17 Raymond James Financial Services, Inc. St. Petersburg, FL 204 3,736 B
18 Piper Sandler & Co. Minneapolis, MN 192 80 D
19 Ameriprise Financial Services, LLC Minneapolis, MN 184 15,626 B
20 Morgan Stanley Purchase, NY 183 3,805 B
21 Barclays Capital Inc. New York, NY 164 19 D
22 Cibc World Markets Corp. New York, NY 162 6 F
23 Wells Fargo Securities, LLC Charlotte, NC 162 84 D
24 Fidelity Brokerage Services LLC Smithfield, RI 152 739 C
25 Jefferies LLC New York, NY 137 42 D
26 Janney Montgomery Scott LLC Philadelphia, PA 120 211 C
27 Interactive Brokers LLC Greenwich, CT 118 17 F
28 SG Americas Securities, LLC New York, NY 115 5 F
29 Pershing LLC Jersey City, NJ 106 18 D
30 BNP Paribas Securities Corp. New York, NY 101 9 D
31 Cantor Fitzgerald & Co. New York, NY 97 37 D
32 HSBC Securities (USA) Inc. New York City, NY 94 287 C
33 ABN Amro Clearing USA LLC Chicago, IL 83 3 F
34 Nomura Securities International, Inc. New York, NY 83 126 C
35 Osaic Wealth, Inc. Scottsdale, AZ 82 5,899 B
36 Instinet, LLC New York, NY 81 11 F
37 Hilltop Securities Inc. Dallas, TX 78 87 C
38 Citadel Securities LLC Miami, FL 76 7 D
39 Stonex Financial Inc. Winter Park, FL 76 28 D
40 Virtu Americas LLC New York, NY 75 8 F
41 Robert W. Baird & Co. Incorporated Milwaukee, WI 75 1,129 B
42 Bofa Securities, Inc. New York, NY 74 126 C
43 Wells Fargo Advisors Financial Network, LLC St. Louis, MO 74 2,019 B
44 Dash Financial Technologies LLC Chicago, IL 69 3 F
45 Robinhood Financial, LLC Lake Mary, FL 65 29 D
46 Wolverine Trading, LLC Chicago, IL 63 3 F
47 National Financial Services LLC Boston, MA 62 70 C
48 Susquehanna Securities, LLC Bala Cynwyd, PA 60 3 F
49 Vanguard Marketing Corporation Malvern, PA 59 173 C
50 Wilson-Davis & Co., Inc. Salt Lake City, UT 58 2 F
51 Apex Clearing Corporation Dallas, TX 57 6 F
52 Fifth Third Securities, Inc. Cincinnati, OH 57 1,391 B
53 Keybanc Capital Markets Inc. Cleveland, OH 55 43 D
54 Stephens Little Rock, AR 53 65 C
55 Ladenburg Thalmann & Co. Inc. New York, NY 50 7 D
56 D.A. Davidson & Co. Great Falls, MT 48 330 C
57 Canaccord Genuity LLC New York, NY 48 50 C
58 BMO Capital Markets Corp. New York, NY 47 25 D
59 Lightspeed Financial Services Group LLC Morristown, NJ 47 3 F
60 Natwest Markets Securities Inc. Stamford, CT 47 7 D
61 Aegis Capital Corp. New York, NY 45 72 C
62 Voya Financial Advisors, Inc. Windsor, CT 45 449 C
63 Commonwealth Financial Network Waltham, MA 43 2,493 B
64 Wolverine Execution Services, LLC Chicago, IL 43 2 F
65 Pruco Securities, LLC. Newark, NJ 43 28 D
66 Marex Capital Markets Inc. New York, NY 42 11 D
67 Berthel, Fisher & Company Financial Services, Inc. Cedar Rapids, IA 42 188 B
68 David Lerner Associates, Inc. Syosset, NY 42 9 C
69 Susquehanna Investment Group Bala Cynwyd, PA 42 3 D
70 Ibkr Securities Services LLC Greenwich, CT 42 2 F
71 IMC Financial Markets Chicago, IL 40 2 F
72 GTS Securities LLC Miami, FL 38 7 D
73 Osaic Services, Inc. Scottsdale, AZ 37 1 F
74 Equitable Advisors, LLC New York, NY 37 2,311 B
75 Maxim Group LLC New York, NY 37 7 F
76 Newbridge Securities Corporation Boca Raton, FL 37 34 B
77 Cetera Wealth Services, LLC El Segundo, CA 37 4,114 B
78 BGC Financial, L.P. New York, NY 36 13 D
79 Sanford C. Bernstein & Co., LLC Nashville, TN 35 27 D
80 Colliers Securities LLC Minneapolis, MN 35 17 B
81 G1 Execution Services, LLC Chicago, IL 35 3 D
82 Moors & Cabot, Inc. Boston, MA 34 38 B
83 Wall Street Access New York, NY 34 9 C
84 Vision Financial Markets LLC Stamford, CT 34 7 C
85 Group ONE Trading LLC Chicago, IL 33 3 D
86 X-Change Financial Access, LLC Chicago, IL 33 2 F
87 Tradestation Securities, Inc. Plantation, FL 33 22 B
88 TP Icap Global Markets Americas LLC New York, NY 33 7 D
89 Global Execution Brokers, LP Bala Cynwyd, PA 32 1 F
90 Tradition Securities and Derivatives LLC New York, NY 32 7 D
91 William Blair Chicago, IL 31 303 C
92 Oscar Gruss & SON Incorporated New York, NY 31 3 D
93 Sanctuary Securities, Inc. Miami, FL 30 88 C
94 GFI Securities LLC New York, NY 30 11 C
95 Daiwa Capital Markets America Inc. New York, NY 30 29 D
96 U.S. Bancorp Investments, Inc. Saint Paul, MN 29 54 C
97 Belvedere Trading LLC Chicago, IL 29 9 D
98 PTR, Inc. Collingswood, NJ 28 1 F
99 MML Investors Services, LLC Springfield, MA 28 3,871 B
100 Truist Investment Services, Inc. Atlanta, GA 28 2,629 B