How Much Do Financial Advisors Make?

There is something about financial advisors that makes it the most preferred job all over the world. What defines a job? Working time, Working environment, Money, Level of job, Stress, Associated people and few more things! So what goes with the financial advisors? If we speak of money, the question arises – how much do financial advisors make?

Speaking shortly and implicitly, a financial advisor job offers enough opportunities – both in terms of personal growth and money.

Here in this article, we will only speak of the amount of money that financial advisors make!

How Much Do Financial Advisors Make?

How Much Do Financial Advisors Make?

Let us know first something about The Bureau of Labor Statistics.

The Bureau of Labor Statistics is a part of the United States Department of Labor that deals with the field of labor economics and statistics and serves as a principal agency of the U.S. Federal Statistical System.

So according to The Bureau of Labor Statistics, the average salary of a financial advisor is

                                   $90,000.

Yes, that is the amount a financial advisor earns yearly.

But the amount of money varies with skill and city. While the best of financial advisors earn up to $180,000 and that of average financial advisors earn $40,000 per year.

One thing that is worth reading here is that a lot of financial advisors earn the percentage of profit that their client makes. So the profit ranges from 1% to 5%. This means the amount of money is based on your financial skills. If you are good enough to shower more and more money on your clients, the chances are that they will do the same.

If you are unaware of who financial advisors are, start from here:-

What Is Starting Salary Financial Advisor? (Entry-Level Pay of Financial Advisors)

According to the various surveys and the various issues published by big magazines, the average entry-level pay of financial advisors in the US is $59,000.

How this can vary with skills and talent as mentioned above but the average variation is only $4000 to $5000.

What is the Average Salary of Financial Advisors in Different Countries?

Here is the list of the top countries that pay a handsome amount to their financial advisors.

  • Financial advisor salary in the United States (US) – $90,000
  • Financial advisor salary in Canada – $60,000 per year
  • Financial advisor salary in UK – £30,000 and £45,000 per year
  • Financial advisor salary in Dubai –  AED 221,000 per year
  • Financial advisor salary in Australia – $78,290 per year
  • Financial advisor salary in China –  ¥213363 per year
  • Financial advisor salary in France – €52,093 per year
  • Financial advisor salary in India – Rs. 362,193 per year.

10 States Where Financial Advisors Earn the Least Money

  • New York – $166,1002 per year.
  • California – $141,1003 per year.
  • Connecticut – $137,1204 per year.
  • District of Columbia – $135,7705 per year.
  • Maine – $134,3806 per year.
  • Rhode Island – $132,9907 per year.
  • New Mexico – $127,3508 per year.
  • New Jersey – $127,2209 per year.
  • Florida – $126,70010 per year.
  • North Carolina – $125,240 per year.

What Top Companies Pay To Their Financial Advisors?

Also, you can check out:-

1. Morgan Stanley

Morgan Stanley:- Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in the Morgan Stanley Building, Midtown Manhattan, New York City.

Average Salary of financial advisors in Morgan Stanley

Morgan Stanley financial advisors make a decent amount of money every year. The average salary of Morgan Stanley financial advisors is $50000. The range of salary varies from $1,500 to $210,000.

2. Edward Jones

Edward Jones:-  Edward D. Jones & Co., L.P., since 1995 simplified as Edward Jones, is a financial services firm headquartered in St Louis, Missouri, United States. It serves investment clients in the U.S. and Canada, through its branch network of more than 14,000 locations.

Average Salary of Financial Advisors in Edward Jones

Normally the average salary of financial advisors of Edward Jones is $50,000 per year while the range varies from $1,500 to $1,80,000 per year.

3. Merrill Lynch

Merrill:- Merill, previously Merrill Lynch, is an American investing and wealth management division under the auspices of Bank of America. Along with BofA Securities, the investment banking arm, both firms engage in prime brokerage and security dealings.

Average Salary of Financial Advisors in Merill Lynch

Financial advisors at Merril Lynch can make up to $54,000 a year while the salary varies from #38,000 to $87,000.

4. AXA

AXA is a French multinational insurance firm headquartered in the 8th arrondissement of Paris that engages in global insurance, investment management, and other financial services.

Average Salary of Financial Advisors in AXA

The typical AXA Financial Advisor salary is $27,063. Financial Advisor salaries at AXA can range from $21,311 – $85,322.

Conclusion

I hope all your queries related to the salaries of financial advisors in different areas are done now. Here we have provided a list of all the aspects of the salary of financial advisors.

If you find this article useful, let us help others by spreading knowledge. I would love it if you share it on your social media handles.

 

 

 

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