FINRA-Registered Firms

2.1 Sizes and Counts
Figure 2.1.1 Total Number of FINRA-Registered Firms, 2020−2024
Figure 2.1.2 FINRA-Registered Firm Distribution by Size, 2020−2024
Table 2.1.3 FINRA-Registered Firm Distribution by Size, 2020−2024
Figure 2.1.4 Securities Industry Registered Firms by Type of Registration, 2015−2024
Table 2.1.5 Securities Industry Registered Firms by Type of Registration, 2015−2024
Figure 2.1.6 Distribution of Branches by FINRA-Registered Firm Size, 2020−2024
Table 2.1.7 Distribution of Branches by FINRA-Registered Firm Size, 2020−2024
Figure 2.1.8 FINRA-Registered Firm Distribution Metrics, 2024
Table 2.1.9 Firm Distribution by Number of FINRA-Registered Representatives: Additional Breakdown, 2020–2024
Figure 2.1.10 FINRA-Registered Firms in Connecticut, New Jersey and New York compared to all other States, 2014, 2019, 2024
2.2 Entrance and Exit of Firms
Figure 2.2.1 FINRA-Registered Firms – Median Number of Years in Business, 2014, 2019, 2024
Figure 2.2.2 FINRA-Registered Firms – Leaving/Entering FINRA Membership, 2010–2024
Table 2.2.3 FINRA-Registered Firms – Leaving/Entering FINRA Membership, 2010–2024
Figure 2.2.4 FINRA-Registered Firm Branch Offices – Opening/Closing, 2014–2024
Table 2.2.5 FINRA-Registered Firm Branch Offices – Opening/Closing, 2014–2024
2.3 Geographic Distribution
Figure 2.3.1 Geographic Distribution of FINRA-Registered Firms by Number of Branches, 2024
Table 2.3.2 FINRA-Registered Firm Branches By State/Region, 2020–2024
Figure 2.3.3 Geographic Distribution of FINRA-Registered Firms by Headquarters, 2024
Table 2.3.4 Geographic Distribution of FINRA-Registered Firms by Headquarters, 2020–2024
Figure 2.3.5 Urban-Rural Breakdown of FINRA-Registered Firms and Branches by Firm Size, 2024
Table 2.3.6 Urban-Rural Breakdown of FINRA-Registered Firms and Branches by Firm Size, 2024

2.4 Advertising and Products
Figure 2.4.1 Advertising Regulation Filing Volumes, 2020–2024
Table 2.4.2 FINRA-Registered Firms – Most Common Marketing Methods Filed with FINRA, 2024
Figure 2.4.3 Advertising Regulation Filing Volumes – Investment Company Product, 2024
Table 2.4.4 Advertising Regulation Filing Volumes – Investment Company Product, 2024
Table 2.4.5 Advertising Regulation Filing Volumes – Voluntary vs. Mandatory, 2020–2024
2.5 Capital Formation
Figure 2.5.1 Capital Acquisition Brokers and Funding Portals, 2020–2024
Table 2.5.2 Total Number of Unique Corporate Financing Filings, 2020–2024
2.6 Business Segments
Table 2.6.1 Small Firms – Business Segments as of December 2024
Table 2.6.2 Mid-Size Firms – Business Segments as of December 2024
Table 2.6.3 Large Firms – Business Segments as of December 2024
2.7 Financials
Figure 2.7.1 Aggregate Excess Net Capital By Firm Size, 2020-2024
Figure 2.7.2 FINRA-Registered Firms – Aggregation of Revenues and Expenses, 2020−2024
Table 2.7.3 FINRA-Registered Firms – Aggregate Financial Information, 2020–2024

2.1 Sizes and Counts

FINRA is a not-for-profit organization dedicated to investor protection and market integrity. FINRA regulates one critical part of the securities industry—member brokerage firms doing business in the U.S. FINRA, overseen by the SEC, writes rules, examines for and enforces compliance with FINRA rules and federal securities laws, registers broker-dealer personnel and offers them education and training, and informs the investing public. In addition, FINRA provides surveillance and other regulatory services for equities and options markets, as well as trade reporting and other industry utilities. FINRA also administers a dispute resolution forum for investors and brokerage firms and their registered employees. For more information, visit www.finra.org.

Figure 2.1.1

Figure 2.1.2

Table 2.1.3

Figure 2.1.4

Table 2.1.5

Figure 2.1.6

Table 2.1.7

Figure 2.1.8

Table 2.1.9

Figure 2.1.10

2.2 Entrance and Exit of Firms

Figure 2.2.1

Figure 2.2.2

Table 2.2.3

Figure 2.2.4

Table 2.2.5

2.3 Geographic Distribution

Figure 2.3.1 Geographic Distribution of FINRA-Registered Firms by Number of Branches, 2024
(See linked page)

Table 2.3.2

Figure 2.3.3 Geographic Distribution of FINRA-Registered Firms by Headquarters, 2024
(See linked page)

Table 2.3.4

Figure 2.3.5

Table 2.3.6

2.4 Advertising and Products

FINRA Rule 2210 governs member broker-dealers’ communications with the public, including communications with retail and institutional investors. The rule provides standards for the content, approval, recordkeeping and filing of communications with FINRA. FINRA’s Advertising Regulation Department reviews firms’ advertisements and other communications with the public to ensure they are fair, balanced, not misleading and comply with the standards of the SEC, MSRB, SIPC, and FINRA advertising rules. FINRA rules do not require all communications to be filed, and the figures presented below therefore represent only a segment of such communication.

Figure 2.4.1

Table 2.4.2

Figure 2.4.3

Table 2.4.4

Table 2.4.5

2.5 Capital Formation

Figure 2.5.1

Table 2.5.2

2.6 Business Segments

On October 1, 2018, FINRA announced that it was moving toward an exam and risk monitoring program structure that is based on the business models of the firms FINRA oversees. FINRA has grouped firms according to the primary business(es) in which they are engaged. The following tables break down business segments by firm size.

Table 2.6.1

Table 2.6.2

Table 2.6.3

2.7 Financials

Figure 2.7.1

Figure 2.7.2

Table 2.7.3