The ratio of broker-dealer closings to openings is almost 2:1, and this is a trend, especially for smaller broker-dealers, according to Bruce Kelly’s InvestmentNews article entitled “Ranks of B-Ds likely to shrink by 540 firms in three years.” 336 B-Ds withdrew their registration last year, compared to 190 new openings. Currently, there are 4,540 FINRA-registered broker-dealers, but that number could drop to 4,000 over the next few years, according to a research firm named The Compliance Department Inc., which predicts that the industry could see an 11% net loss of brokerage firms by 2014.