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Most productive bank advisers by TPM
Raymond James may not have the most bank advisers of all the TPMs, or the highest overall bank channel revenue (that would be LPL on both counts), but the St. Petersburg, Fla-based broker-dealer can boast the highest production per adviser. It also has the highest percentage of fee income of the TPMs analyzed in the latest copy of the Kehrer Bielan Annual TPM Report.

As part of our monthly InDepth series, we focused on TPMs this time. In this package, we have articles on Raymond James and LPL, as well as Cetera, which came in second on both production per adviser and total bank channel revenue. We also have a 30,000 foot view of the history of the TPM industry, contributed by Kehrer Bielan. But for a quick overview of the numbers, click through to see how each firm ranked.
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10. Securities America
Production per adviser: $120,219
Bank investment services revenue: $22 million
% of revenue from fee business: 25%
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9. Investment Centers of America
Production per adviser: $162,500
Bank investment services revenue: $65 million
% of revenue from fee business: 16%
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8. Investment Professionals
Production per adviser: $185,263
Bank investment services revenue: $64 million
% of revenue from fee business: 13%
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7. Infinex Financial Group*
Production per adviser: $190,391
Bank investment services revenue: $107 million
% of revenue from fee business: 9%
  • Acquired Essex in 2015
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6. Invest Financial
Production per adviser: $246,162
Bank investment services revenue: $92 million
% of revenue from fee business: 17%
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5. CUSO Financial Services
Production per adviser: $250,720
Bank investment services revenue: $174 million
% of revenue from fee business: 13%
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4. LPL Financial
Production per adviser: $269,598
Bank investment services revenue: $622 million
% of revenue from fee business: 23%
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3. CUNA Brokerage Services
Production per adviser: $308,000
Bank investment services revenue: $154 million
% of revenue from fee business: 10%
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2. Cetera*
Production per adviser: $331,010
Bank investment services revenue: $300 million
% of revenue from fee business: 8%
  • Changed its name of Aretec in May 2016
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1. Raymond James
Production per adviser: $387,755
Bank investment services revenue: $285 million
% of revenue from fee business: 37%