AMERICA’S BIGGEST INDEPENDENT BROKER-DEALERS

GAME CHANGERAS GROWTH HAS SURGED THROUGHOUT THE INDUSTRY, A NEW

PLAYER HAS EMERGED TO SHAKE UP THE FP50 RANKINGS.

NICHOLAS SCHORSCH DETAILS HIS BIG PLANS FOR RCS.

INVESTED IN ADVISORS / JUNE 2014 FINANCIALPLANNING.COM / @FINPLAN

1 LPL Financial 4,051,300 13.1 2,023,700 14.5 1,179,000 11.8 848,600 11.6

2 Ameriprise Financial 3,241,113 12.1 1,321,333 6.7 1,491,487 12.5 428,293 30.8

3 Raymond James Financial Services 1,351,716 11.9 631,120 7.4 536,703 20.9 183,892 4.1

4 Commonwealth Financial Network 822,115 15.5 284,094 12.4 440,381 17.7 97,639 14.7

6 Wells Fargo Advisors Financial Network 707,320 18.6 244,289 20.8 295,204 9.9 167,827 33.6

5 AXA Advisors 676,900 8.4 535,300 5.2 117,200 20.8 24,400 28.4

7 Northwestern Mutual 654,456 18.2 262,827 9.8 308,622 30.3 83,008 7.4

8 Cambridge Investment Research 574,358 24.5 234,830 26.5 277,686 20.4 61,842 37.3

9 Securities America 475,000 18.8 235,800 18.4 191,904 21.1 47,296 11.5

10 Royal Alliance Associates 444,448 14.4 235,361 20.9 170,839 6.2 38,248 16.6

13 Cetera Advisor Networks 435,965 20.9 233,771 24.8 162,503 17.8 39,691 12.5

12 Waddell & Reed Financial Advisors 426,045 17.8 192,192 8.5 159,747 30.7 74,106 19.0

15 ING Financial Partners 396,333 16.9 293,668 14.9 79,930 19.3 22,735 37.0

14 National Planning 382,739 10.4 256,518 10.5 94,061 7.1 32,160 19.6

11 NFP Advisor Services 380,985 4.5 238,790 (1.3) 121,620 16.9 20,548 9.9

16 MML Investors Services 360,848 7.4 260,028 5.9 71,873 7.6 28,943 15.5

17 Securian Financial Services 355,393 25.4 271,135 27.8 75,121 19.1 9,137 12.0

18 FSC Securities 280,258 6.5 161,277 10.7 93,932 7.0 25,050 (15.3)

22 Princor Financial Services 278,855 15.2 240,798 14.3 38,054 23.1 n/a n/a

23 SagePoint Financial 278,583 17.6 175,482 20.5 76,134 17.5 26,967 1.7

24 Invest Financial 278,139 17.4 197,208 15.7 53,491 22.3 27,440 21.2

20 HD Vest Investment Services 273,211 10.0 143,968 8.2 100,085 15.0 29,157 2.9

25 First Allied Securities 272,284 16.9 171,407 21.1 74,447 9.4 26,430 12.8

19 Signator Investors 267,427 1.7 221,462 (2.2) 39,740 25.9 6,225 26.4

26 Transamerica Financial Advisors 267,303 14.9 195,865 11.9 56,953 21.5 14,485 34.4

27 Cetera Advisors 261,507 24.5 147,402 25.4 89,063 22.9 25,042 25.0

21 Woodbury Financial Services 250,848 3.1 194,152 (7.7) 32,193 8.0 24,502 684.5

28 Cetera Financial Institutions 248,736 29.4 196,182 33.8 14,819 40.0 37,735 7.7

31 Lincoln Investment Planning 194,622 33.9 103,317 34.5 85,623 49.7 5,682 (49.9)

29 SII Investments 189,573 14.2 125,518 12.0 45,678 12.0 18,376 39.1

30 Park Avenue Securities 158,672 3.8 110,386 (1.1) 43,526 18.2 4,760 6.3

35 American Portfolios Financial Services 157,956 19.7 102,110 11.6 55,846 38.1 n/a n/a

38 Triad Advisors 155,687 26.9 84,056 32.1 59,999 13.1 11,631 93.8

32 Cadaret, Grant 154,359 12.2 114,800 12.2 35,672 15.6 3,887 (10.4)

37 CUSO Financial Services & Sorrento Pacific Financial Services 148,427 19.2 121,561 18.8 10,370 33.0 16,496 14.5

36 Ameritas Investment 143,000 12.6 102,000 12.1 31,700 20.5 9,000 (10.0)

33 CUNA Brokerage Services 143,000 6.4 125,900 5.4 14,200 10.1 2,900 31.8

34 M Holdings Securities 139,364 5.6 123,867 2.9 12,012 33.3 3,485 37.4

39 NEXT Financial Group 127,823 7.7 87,072 4.9 35,603 11.9 5,148 31.5

41 H. Beck 121,422 13.9 93,327 13.9 22,581 13.4 5,514 (9.7)

42 Centaurus Financial 121,211 16.1 101,421 15.2 19,789 20.9 5,958 28.1

40 ProEquities 115,817 5.2 86,371 5.1 19,928 9.5 9,518 (2.0)

44 Securities Service Network 114,154 15.4 61,726 15.1 41,206 25.1 11,222 (9.3)

47 Investment Centers of America 113,099 29.3 80,676 26.5 20,515 31.4 11,908 47.7

43 Cetera Financial Specialists 112,931 8.4 59,595 4.8 47,208 13.4 6,128 8.2

45 VSR Financial Service 107,297 9.3 56,966 2.1 43,850 19.5 6,482 14.8

46 Geneos Wealth Management 104,553 12.0 48,451 0.8 55,576 24.1 525 12.0

51 Independent Financial Group 96,605 27.1 65,308 28.4 22,401 185.3 8,896 21.7

54 Questar Capital 93,500 27.7 79,990 29.4 9,500 13.2 4,010 33.7

49 Investors Capital 93,203 13.3 71,940 12.7 18,053 11.8 3,210 39.9

MEDIAN $264,405 14.7 $166,342 12.3 $56,399 18.6 $17,436 14.8

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