Arkadios Again Honored as Top IDB by Independent Magazine


David Millican

After being named the fastest-growing independent broker-dealer in 2019, Arkadios Capital earned several top rankings in Financial Planning Magazine’s 2020 IDB Elite Survey.

The hybrid platform for RIAs and independent advisors led by founder and CEO David Millican was No. 1 for percentage revenue growth, high-end advisors and growth in producing advisors.

“The success and growth of Arkadios over the last year proves we are building a platform top advisors want,” said Millican. “We have created a space for our partners to operate a hybrid model, while helping them grow their businesses as independent entrepreneurs.”

Financial Planning Magazine ranked Arkadios Capital No. 1 in revenue growth, with an 89.3% increase.

With average production of $1,452,101 for the top 20% of its advisors, Arkadios ranked highest among the surveyed firms. Arkadios also earned the No. 1 spot for growth in producing advisors, which increased 54% over the previous year. The firm was No. 3 for pay out growth.

“These firms look to lure — and keep — new advisors with greater independence and higher payouts, compared to wirehouses and other employee BDs,” wrote senior editor Tobias Salinger, adding later. “A trio of three other firms made the top 10 average payouts as well as reporting the highest percentage increases last year: Arkadios Capital, Waddell & Reed and Prospera Financial Services.”

Investment advisors created Arkadios Capital with investment advisors in mind. Taking the lessons learned from more than three decades in wirehouses and as successful RIAs, they created a hybrid model that puts advisors and their clients first, while offering a full suite of business development and succession solutions. The company has more than tripled its revenue and grown to more than 70 advisors.

About Arkadios Capital

Arkadios Capital was founded in 2016 by independent advisors with independent advisors in mind. With the highest ethical standards, the broker-dealer specializes in customized investment options focused on individual investors. The hybrid IBD has more than $3.5 billion in associated assets. For more information, visit

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