The 2019 Broker-Dealer of the Year winners do what it takes to best serve their advisors, regardless of the challenges they face. This cer- tainly has been the case since (at least) 1995, when
Investment Advisor began asking independent advisors for
their views on the support, services and payouts they receive
from their respective independent broker-dealers.
After tallying the most recent results (including some 1,400
advisor ballots), we are pleased to announce this year’s four
• Division IV (more than 1,000 representatives): Cambridge
Investment Research, which is led by CEO Amy Webber
and based in Fairfield, Iowa; it has won the award 12 times.
• Division III (500 to 999 reps): American Portfolios Financial
Services, of Holbrook, New York, led by CEO, President and
CIO Lon Dolber; it has won the award five times.
• Division II (200 to 499 reps): The Investment Center of
Bedminster, New Jersey, represented by President Ralph
DeVito; it has received the award eight times.
• Division I (up to 199 reps): Prospera Financial Services of
Dallas, led by David Stringer, principal and president; this
is its seventh year as a winner.
As in past years, the executives of the winning BDs sat
down with us in Chicago to discuss the latest competitive,
regulatory and other issues. This year, for instance, the BD
leaders described the importance of innovation, the ins and
outs of the Securities and Exchange Commission’s Regulation
Best Interest, the future of the advisory business and more.
A trimmed-down transcription of their insightful comments
follows (and is found at ThinkAdvisor.com), along with a summary of the Runners Up and Honorable Mentions in the 2019
Broker-Dealers of the Year program.
Photography by Tom McKenzie
As Amazon and other tech-driven developments raise expectations,
leaders of the top independent broker-dealers say putting their
advisors first helps them not just survive, but thrive.
Year Broker-Dealers of the
By Janet Levaux and Ginger Szala