06.26.25

In Broker-Dealer Industry, Rich Firms Are Getting Richer

by: Tracey Longo

The U.S. broker-dealer industry has undergone significant consolidation over the past 15 years, even as total assets have grown to record levels, according to a new report from the Securities and Exchange Commission (SEC). While the number of registered firms dropped by some 30% during the period, total assets jumped by about $1.7 trillion to a total of $6.4 trillion, signaling a pronounced shift toward fewer, larger firms controlling more market share. As of 2024, about 3,340 broker-dealers remain registered with the SEC, down from nearly 4,800 in 2010.

Read the full article on Financial Advisor