07.10.25

Broker-Dealer Industry Consolidation Rolls on as Broker Ranks Grow: FINRA

by: Alex Padalka

The number of brokers working in the financial services industry continued to rise even as the number of broker-dealer firms shrank again last year, according to a report from the Financial Industry Regulatory Authority (FINRA). As of the end of 2024, there were 3,249 firms registered with FINRA, down from 3,298 in 2023 and 3,378 in 2022. The mid-size segment, representing firms with 151 to 499 registered representatives, was the only one that expanded, comprising 209 firms at the end of 2024, up from 198 at the end of 2023.

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