The top three spots in the rankings did not change year-over-year but there were plenty of place changes in the rest of the top 10.
PFM pads lead
Public Financial Management extended its lead over the rest of financial advisors, as it increased its business by nearly $20 billion. PFM finished the year with a total of $66.05 billion and 19.3% market share, compared with $47.27 billion and a 17.3% market share in 2018.
PRAG comfortably in second
Public Resources Advisory Group may be way behind the pack leader but is comfortably ahead of the third place firm. PRAG accounted for $40.56 billion or 11.8% market share, versus $36.14 billion and a 13.2% market share.
Hilltop hovers in third
Hilltop securities finished in the same spot, with the same market share despite increasing its par amount. The firm finished 2019 with $28.46 billion and a 8.3% market share.
Frasca improves one spot
Frasca and Associates moved up one spot from fifth to fourth with a total of $11.27 billion and 3.3% market share.
Acacia Financial Group dropped down one spot to fifth from fourth, as it flipped-flopped with Frasca. Acacia accounted for $9.60 billion and 2.8% market share.
Rounding out the top 10 are: Ponder and Co., who moved up one spot from last year with $7.55 billion; Kaufman Hall and Associates jumped up six spots with $7.25 billion; Piper Jaffray stayed in the eighth spot with $6.99 billion; KNN Public Finance nudged up one spot with $6.42 billion; And Estrada Hinojosa and Company Inc., jumped up four spots into the top 10 with $5.73 billion.