Brokers, Money Managers, Trust Departments Ranked

by Gwen Moritz and Mark Friedman  on Monday, Sep. 27, 2010 12:00 am  

This year's Arkansas Business list of largest broker dealers shows a shake-up in the firms' rankings.  

(Click here to see a PDF list of broker dealers. Click here to see a PDF list of money managers. Click here to see a PDF list of trust departments. Spreadsheet versions of the broker dealers, money managers and trust departments lists are also available.)

Stephens Inc. of Little Rock still commands the top spot on the list, which ranks companies by the number of registered representatives they have in Arkansas. While Stephens reported 315 stockbrokers in the state, other companies are gaining some ground.

Edward Jones of St. Louis is now the No. 2 firm in the state with 185 registered reps. In 2009, it reported 181 stockbrokers and held the third spot.

Last year's No. 2 firm, Wells Fargo Advisors of St. Louis, has dropped to No. 4 this year with 115 broker dealers.

The reason for Wells Fargo's decline can be traced to 2009 when support employees were mistakenly included in the count of broker dealers, Teresa Dougherty, a spokeswoman for Wells Fargo Advisors, said in an e-mail to Arkansas Business.   

Also, Raymond James moved up from No. 16 to No. 8 as a result of an oversight of one of Raymond James' subsidiaries.

Raymond James of St. Petersburg, Fla., operates Raymond James Financial Services and Raymond James & Associates in Arkansas. But last year's list included only the number of registered representatives from Raymond James Financial Services, which totaled 10.

With both entities reporting, Raymond James has 54 broker dealers in 12 offices in the state.

Additional Lists
Stephens Inc. - or, more specifically, its Stephens Capital Management division - is also at the top of this week's list of the state's largest money managers.

Money managers on the list are Securities & Exchange Commission-registered investment advisers, and they are ranked by assets under management as reported in their most recent Form ADVs filed with the SEC. Firms whose most recent filings were more than 15 months old were excluded from the list.

Stephens Capital Management boasts $3.1 billion in assets under management, which doesn't include another $556.7 million managed by Stephens Investment Management Group LLC, a mutual fund division that is separately registered with the SEC. That's twice the assets of Foundation Resource Management Inc. of Little Rock, the only other money manager in the state with assets of more than $1 billion.



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