This article discusses the 5 Biggest Stock Brokerage Firms in the US. If you want to get detailed analysis on the asset management and stock brokerage market, you can head on to 15 Biggest Stock Brokerage Firms in the US.
5. Capital Group
Assets under Management: $2.5 trillion
Capital Group are currently handling over $2.5 trillion in assets, with about $847.9 billion tied up in institutional retirement assets. Capital Group is an American financial services outfit that’s privately owned and packs a punch in the investment management scene. They’re one of the big guns, being one of the oldest and largest investment management organizations globally.
4. JPMorgan Chase & Co. (NYSE:JPM)
Assets under Management: $3.4 trillion
JPMorgan Chase & Co. (NYSE:JPM) is a big player in the finance world, based in New York City and registered in Delaware. They dabble in a bunch of areas like investment banking, consumer services, commercial banking, financial transactions, and asset management.
JPMorgan Chase & Co. (NYSE:JPM) asset and wealth management unit revealed some impressive numbers for 2023, with $3.4 trillion in assets under management, marking a 24% year-over-year increase. A chunk of that—$974 billion—is held in the private bank, while $1.5 trillion is in its global institutional division, and $960 billion in its global funds business.
3. The Charles Schwab Corporation (NYSE:SCHW)
Assets under Management: $8.5 trillion
So, The Charles Schwab Corporation (NYSE:SCHW) is this big deal in the finance world, offering all sorts of services like banking, investing, and wealth management to regular folks and big institutions alike.
In December 2023, The Charles Schwab Corporation (NYSE:SCHW) hit it out of the park with over $40 billion in new assets pouring in, growing at a snazzy 6% rate. Their total client assets shot up to a massive $8.5 trillion by year-end, marking a solid 21% increase. The fourth quarter of 2023 saw them rake in $1.0 billion in net income, a bit lower than the $2.0 billion from the same period in 2022. Over the whole year, their net income hit $5.1 billion, down from $7.2 billion the year before.
2. The Vanguard Group
Assets under Management: $8.6 trillion
Vanguard is this huge investment advisor in Malvern, Pennsylvania, with a whopping $8.6 trillion in assets worldwide as of 2024.
In 2023, Vanguard raked in $579 million in net sales, a bit lower than the $610 million in 2022. Their net income also saw a dip, hitting $7.5 million in 2023, down from $27.4 million in 2022. Still chugging along in the stock brokerage game!
Vanguard’s brokerage account has some cool features, which you can use it to save up for all kinds of things like a new house, car, wedding, or even a fancy trip. They offer Vanguard mutual funds and ETFs for your investment needs. Plus, you can get your hands on other goodies like mutual funds, ETFs, stocks, bonds, and more. But, there’s a $25 annual account fee hanging around. Don’t sweat it, though! You can skip that fee entirely and stick with Vanguard for free by just going for electronic delivery of your account docs.
1. BlackRock, Inc. (NYSE:BLK)
Assets under Management: $10 trillion
BlackRock, Inc. (NYSE:BLK) is a top-notch asset manager in the stock brokerage scene, offering killer investment, advisory, and risk management services. They’re all about looking out for their clients’ interests and helping regular folks like us secure our financial futures.
BlackRock, Inc. (NYSE:BLK) made headlines with their recent acquisition of GIP, beefing up their infrastructure game to over $150 billion. With a whopping $10 trillion in assets under management (AUM) and a solid $289 billion in net inflows for the year, including a cool $96 billion in the final quarter, they’re a force to be reckoned with. While their revenue held steady for the year, clocking in at $4.5 billion returned to shareholders, they also dished out $1.5 billion for share repurchases.
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