KCD Financial

Name

KCD Financial

Legal name

KCD Financial, Inc.

Website

https://kcdfinancial.com

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Broker-Dealer Services

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Other Financial Investment Activities (5239)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Independent Broker-Dealer / Registered Representative Networks (FSAEACAG)

akta.pro secondary industry

Independent Broker-Dealers (Retail Network) (FSAAAAAC)

Keywords

• Broker-dealer services
• Registered investment advisor
• Independent financial planning
• Compliance support services
• Securities brokerage

Headquarters

HQ city

Green Bay

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Broker-Dealer Commissions: KCD Financial generates revenue through commissions on the sale of financial products including mutual funds, variable annuities, variable life insurance, Direct Participation Programs (DPPs), Real Estate Investment Trusts (REITs), equities, and fixed income securities. Representatives earn commissions with over 90% gross-dealer concession payouts. The firm does not accept compensation for directing order flow to Hilltop Securities clearing firm.
2. Third-Party Money Management Fees: Revenue from third-party money management services offered through both the clearing firm Hilltop Securities and direct selling agreements with sponsoring companies.
3. Fixed Insurance (Outside Business Activity): Fixed insurance products including Medicare plans and other non-securities offerings are treated as a true Outside Business Activity. Representatives keep 100% of fixed insurance income with no haircut, working with their choice of IMO/FMO marketing organizations.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

KCD Financial operates as an independently-owned broker-dealer and registered investment advisor headquartered in Green Bay, Wisconsin. The firm provides independent financial planners nationwide with brokerage and advisory services, compliance support, succession planning, and access to back-office technology for selling non-proprietary investment products.

Product overview

KCD Financial operates as an independently-owned broker-dealer and registered investment advisor serving independent financial planners nationwide. The core offering combines brokerage and advisory services with comprehensive back-office technology solutions including the Reg BI Optimizer and SmartOffice CRM. Representatives receive compensation through commission structures offering over 90% gross-dealer concession payouts starting at dollar one. The platform supports fixed insurance products as an Outside Business Activity with 100% payouts, while providing succession planning services and education tools for alternative investments. An annual conference brings vendors and tech experts to support representative development. Trade execution and clearing services are handled through Hilltop Securities.

Differentiator

Problem solved

Functional benefit

Products and services

• Brokerage and Advisory Services Broker-dealer and RIA affiliation service for independent financial planners nationwide, providing access to non-proprietary investment products, back-office technology, and compliance support. Designed for independent representatives seeking a partner that does not compete with them by selling proprietary products.
• Fixed Insurance Products (Outside Business Activity)

Named customers1 record

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Hilltop SecuritiescoreTechnology or IntegrationHilltop Securities serves as KCD Financial's clearing firm, providing trade execution, clearing, and back-office infrastructure. KCD directs all OTC, listed stock, and options trades to Hilltop Securities for execution. Hilltop backs up important records in a geographically separate area. KCD does not receive compensation for directing order flow to Hilltop Securities. Hilltop regularly monitors quality of executions for best execution purposes.

Scale indicators6 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• LPL Financial: Largest independent broker-dealer in the US by advisor count and AUM, public company. Overlaps KCD in target customer (independent financial advisors, wirehouse breakaways) and product menu, but operates at vastly greater scale with institutional governance.
• Raymond James Financial Services: Independent contractor channel of Raymond James, serving independent financial advisors within a much larger, publicly-traded parent. Comparable advisor-channel business model, but with substantially broader product, research, and balance-sheet resources.
• Lincoln Financial Advisors: Independent broker-dealer channel of Lincoln Financial Group, serving independent financial advisors through a large insurance/annuity parent. Overlaps KCD in the independent advisor channel and in variable annuity/insurance product distribution, with greater corporate resources.

Direct peers

• Cambridge Investment Research: Large privately-held independent broker-dealer focused on independent financial advisors, with high payouts and a non-proprietary product menu. Directly comparable in business model and target customer (wirehouse breakaways and independent reps).
• Geneos Wealth Management: Independent broker-dealer/RIA hybrid focused on independent financial advisors. Closely comparable in size tier, dual BD/RIA model, and rep-friendly value proposition, serving a similar advisor base to KCD.
• Cetera Advisor Networks: Independent broker-dealer network under the Cetera umbrella serving independent financial advisors. Same target customer (wirehouse breakaways, independent reps) and overlapping product set, comparable in business model if larger in scale.
• Cetera Financial Group: Independent broker-dealer network formed from the Advisor Group rollup, serving independent financial advisors across multiple firm brands. Comparable target customer and product breadth, though significantly larger scale and more institutional ownership.
• Commonwealth Financial Network: Large privately-held independent broker-dealer/RIA serving independent financial advisors. Closely comparable to KCD in the independent BD/RIA hybrid model, with a similarly advisor-friendly payout and no-proprietary-product stance, but at substantially greater scale.
• Triad Advisors: Mid-size independent broker-dealer serving independent financial advisors, with a comparable payout and product-agnostic positioning. Direct competitive overlap with KCD for the same wirehouse-breakaway and independent advisor segment.
• Equity Services Inc. Independent broker-dealer subsidiary of National Western Financial, serving independent financial advisors nationwide. Comparable size tier, BD/RIA structure, and advisor support model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about KCD Financial