There are various types of national Broker dealers (BDs) and Registered Investment Advisors (RIAs) including:
- Wire Houses and Employee Based –Reps are employees rather than independent contractors.
- Insurance – Also employee based, this group has emerged from traditional life insurance agencies.
- Independents – Advisors are independent contractors.
- Specialty Groups – Some are BDs, some are RIAs and other are just groups that have emerged to focus on supporting DC plan advisors.
| Broker Dealers/Advisory Firms (48) | |
| National (Employee) 9 | |
| Ameriprise | Raymond James* |
| Baird | RBC |
| Edward Jones | UBS |
| Merrill Lynch | Wells Fargo Advisors* |
| Morgan Stanley | *Both Indy & Employee |
| Insurance 8 | |
| AXA | Northwestern Mutual |
| John Hancock | NYLife |
| Lincoln | Princor |
| MassMutual | |
| Independents 18 | |
| AIG | Janney |
| Advisor Group | Kestra |
| Calton | LPL |
| Cambridge | M Financial |
| Cetera | National Planning |
| Commonwealth | Securities of America |
| First Allied | Stifel Nicolaus |
| Hilliard Lyons | United Planners |
| IFG | Voya |
| Specialty Groups 13 | |
| Bukaty | Lockton |
| Cafaro Greenleaf | NFP |
| CapTrust | Pensionmark |
| Centurion | RBG |
| Gallagher | Sageview |
| GRP | Sheridan Road |
| IFP | |
