Investors to account for a combined 407 of industry

investors to account for a combined 40.7% of industry revenue in 2020, slightly decreasing as a share of revenue
over the past five years.
Exports in this industry are Low and Steady
Imports in this industry are Low and Steady
The Securities Brokering industry is services-based, and therefore, trade is not applicable. While industry services
can involve brokering transactions for consumers worldwide in global financial markets, industry revenue reflects
revenue generated from US-based enterprises and establishments.
Business Locations
In general, establishments in the Securities Brokering industry align with the distribution of major business and
financial hubs and the general population. One exception to this, on a per capita basis, is the disproportionately
larger number of establishments located in the Great Lakes, Plains and Rocky Mountains regions. This may be
attributed to the moderate barriers to entry and the large number of nonemployer establishments associated with
this industry. Discount brokerage services have increasingly used independent financial planning and wealth
management advisers that experience lower barriers to entry and costs closer to their customers in the Great Lakes,
Plains and Rocky Mountains regions.

Securities Brokering in the US
February 2021
20 IBISWorld.com
The Southeast accounts for 23.6% of business locations in 2020, the largest region by establishment figures. The
high concentration of establishments in this region may be attributed to population levels and corporate business
activities. The Southeast accounts for 25.7% of the population in 2020. The general population is a material factor in
this industry because it is the retail investors that consume financial products. To raise and sell securities,
investment banking and securities dealing firms need to attract investors. Florida also has the third-largest number
of establishments (8.6%) in the United States, attracted by the state's large retirement population.
Although the Mid-Atlantic only houses 19.7% of establishments in 2020, the region generates more than one-third of
industry revenue. New York contains an estimated 8.0% of industry establishments in 2020, but accounts for more
than one-quarter of industry revenue. The region is home to major corporate headquarters, financial intermediaries
and exchanges, such as the New York Stock Exchange. Prestige and branding also play a big role in this industry
as many prominent industry operators are located near Wall Street.
The Great Lakes region accounts for an estimated 13.9% of establishments in 2020. Most establishments are
located in Illinois, which is home to the CME Group Inc. derivatives marketplace. The West accounts for 17.7% of
establishments in 2020 due to its large population. Additionally, an estimated 12.9% of establishments are located in
California. Lastly, the Plains and Rocky Mountains regions account for the lowest amount of industry operators,
homes to 7.0% and 4.0% of establishments, respectively, in 2020.

Securities Brokering in the US
February 2021
21 IBISWorld.com
Competitive Landscape
Market Share
Concentration