IBD Elite 2026: 10 Firms with Fastest Payout Growth

Average advisor payouts at 10 independent brokerages increased by a larger percentage in 2025 than at any other firms in the IBD Elite ranking. The ranking orders firms by the year-over-year percentage change in average payouts for producing representatives.

The percentage increase is calculated by dividing each firm’s total payouts by the number of registered representatives who produced revenue in 2025, then comparing that quotient to the prior year. In this report, “payout” refers to the difference between an adviser’s production and what the adviser pays the firm for services and infrastructure. The figures are self-reported by the firms and rounded for publication.

Top firms on the list include Osaic, Northwestern Mutual and MML Investors Services, alongside LaSalle St. Securities, Centaurus Financial and Geneos Wealth Management. The list covers both large national broker-dealers and midsize independents.

Individual adviser payouts vary by tenure, the size of an adviser’s book, fee structures and contractual arrangements with the firm. For firms reporting the largest average increases, the change reflects how revenue was shared with producing representatives across the adviser population rather than a uniform increase for every individual.

Industry participants attribute higher average payouts in part to efforts to retain and develop advisers. David Stevens, founder of Omaha-based Stevens Capital Partners, described a formal onboarding and coaching program he calls the “SCP way,” which trains new advisers on the firm’s systems, meeting processes and investment approach. Stevens noted his firm launched in 2020 with about $100 million in client assets and has grown to roughly $800 million while adding more than half a dozen advisers.

Stevens outlined a “career growth track” for young entrants and career changers, a practice of hiring interns, and regular outreach to aspiring planners through professional associations. He described the firm’s model as one in which new advisers focus on client work rather than immediate prospecting, and he encouraged students to list what motivates them and speak with established practitioners to learn about career paths.

The ranking offers a snapshot that firms can use when assessing compensation, recruitment and service models. Readers should note that the companies are ordered by the percentage increase in average adviser payout between 2025 and the prior year based on each firm’s reporting, and that reporting methods and definitions can vary across firms.