Insights | 05.02.22
Number of Registered Reps, Brokerages Declined Again in 2021: FINRA
The 2022 Industry Snapshot from the Financial Industry Regulatory Authority (FINRA) estimates that registered representatives and brokerages overseen by FINRA shrank to 612,457 in 2021 from 617,531 at the end of 2020. Last year's total is down 2.8% from the 630,235 reps FINRA reported for 2017. FINRA-registered firms at the end of last year totaled 3,394 versus 3,345 at the end of 2020 and 3,726 firms in 2017, which FINRA attributed to 150 exiting the industry and 109 firms entering. Broker-dealers are still seeing revenue appreciation, with aggregate revenue for FINRA-registered firms reaching $398.5 billion in 2021 compared to $361.9 billion in 2020. Aggregate expenses in 2021 were $306.8 billion, leading to $91.7 billion in pretax income.
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