Broker-Dealer Industry Shrinks in Number, Grows in Scale
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Broker-Dealer Industry Shrinks in Number, Grows in Scale
As of 2024, the number of Commission-registered broker-dealers has declined by nearly 30% from 4,758 in 2010 to 3,341, signaling significant industry consolidation, according to a new report by the Securities and Exchange Commission’s Division of Economic and Risk Analysis (DERA). The number of clearing/carrying firms declined from 247 in 2010 to 158 in 2024, while the number of other firms declined from 4,511 in 2010 to 3,183 in 2024, the repor…
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