Stifel had the highest satisfaction score among employee advisors, while Commonwealth took the top spot among independents, according to J.D. Power’s latest ranking.

Every year, J.D. Power surveys advisors at both employee and independent firms to gauge their satisfaction across a range of categories, including compensation; firm leadership and culture; operational support; products and marketing; professional development; and technology.

Firms move up and down the ranking year to year, but the lists can provide a guide for what advisors may experience if they join one of these firms. The ranking is based on responses from 4,072 advisors and was fielded from January through May 2024.

Related: J.D. Power: Employee Advisor Satisfaction Rises, Independent Mood Wanes

This year, J.D. Power found that satisfaction among employee advisors rose 59 points between 2023 and 2024, while satisfaction among independent advisors dropped by 15 points. This is a break from the norm, as historically, independent advisor satisfaction has been higher than that of their employee peers. 

Click through to see how both employee and independent firms ranked this year.