Financial Advisors Discussions
Salaries

My firm is looking to bring an associate from a bank to work as an FA. This associate does not have any portfolio, but we believe he has good networking and can bring some clients from other regions that complement our RIA geographical exposure. He would also be helping other FAs to manage existing clients, and some other operative roles. What can be a compensation structure for this type of profile?

Just curious, what are the big companies paying an intermediate business analyst here south africa monthly? Take home salary? TIA

Debating an offer from JP Morgan for VP Private Banker. Would be a big comp increase but also a role change. I'm currently a private banker on the lending side with 15 years experience with a cush gig and zero sales pressure. JPM pros are comp, a new challenge, build skills, expand network. Cons I lose my nice corner office and 30 hour work week, worse benefits/perks, and I'm apprehensive about the culture/sales pressure. Any insight or advice?

I have almost 3 years working for a RIA (first and only job). I really like the company, colleagues, culture etc. I started as an analyst and now my role is portfolio management. I have also brought some clients to the firm (around $6M). My compensation is okey, but I would like to make more money. What are ways of adding value to the RIA other than bringing new clients?
On prospecting, do you have any tips for a 26yr old on how to get new clients? It is not easy nor cheap to meet HNWI in miami

Any idea what the average compensation is for a Non-sales associate with 15 years experience and a CFP (large city)...

Is it common to have no base salary, comp of 50-75% of target premium? Seems like a lot of uncertainty… especially early on with no book to show or much of an experience, scared won’t be able to make even a bare minimum

Saw a job posting at Deloitte for a Manager of Wealth Management, looks like you develop financial plans and provide advice for a variety of executive/senior team members. Anyone know what kind of salary that pays?

With RegBI almost a year in the books, what are your firms requiring to meet the best interest requirements? Any comp changes? Additional disclosures?

Please tell me if I’m wrong.
I started advising with no experience at the end of 2019 with a 6 month old practice within a huge partnership. No salary but was told there could be a book of clients for me. In the first three months I was really active though of course I was very scrappy as I was just learning the ropes. Obviously COVID hit and we’ve pretty much been in lockdown ever since (not US based). By Q3 the shock wore off and we all got back to it (my boss included). I decided to focus on

New AWMA... curious to know what a reasonable salary expectation is and what the growth looks like for an associate within a growing ensemble. For context, background is more analytical, taking CAIA level 2 in a couple weeks, then plan on pursuing CFA.

What kind of salary would a new financial advisor at a bank be paid? I am trying to get an idea of salary ranges and online search it’s kind of hard to narrow it down.

Alright crew, I need some advice. I’m currently in negotiations to possibly leave my firm (Merrill Lynch) and work for an RIA. I will be given a salary to service some of their current clients and then a split for clients I bring in. They will also put prospects in front of me and I will own my own book. Should I do it? I’m making a nice salary in the FADP program but I know that won’t last forever.

I wonder if anyone here from an RIA has been exploring merger / acquisition with another RIA and what multiples are currently trending? Also, please give a me perspective on comp structure, deal structuring.

I'm at a bank broker-dealer and we're moving to LPL. The more I'm learning the less excited I get in regards to fees and compensation. Anyone in the bank environment gone through a change like this? Any advice on possibly looking at moving?

How do you know when to listen/learn and when to be maverick? I work for an incredibly successful company but they’re known for being old fashioned. I was hired for my creative approach to FA but the training I receive is still old boys club style. Management are on my case chasing for numbers (they don’t pay a salary so I have leverage there) but I’m at a stage where I’m keeping my head down and building my business how I want to. By that I mean I’ve built a fully autonomous, slick sales funnel

I graduated college 2 years ago and started working on RIA in FL as a Research Analyst. During this period I got my series 65 and brought to the company two clients (total assets of $3M). This being said, I am not very happy with my compensation. I know I am just starting my career, and that I need patience. I will like to get other people insight on how can I grow and earn more $$
Should I get a Masters in Finance?
Should I start looking for a job in a BD instead if RIA?

Curious to get an idea of where my company compares regarding compensation. I am one of a team of 5 advisors dedicated to about 6500 individual clients and $2.97Billion in client assets. Each one of us is fully licensed (7,66 and insurance), and I hold my 24. My base is $80k with a VC target of 40% of base salary. Goals are mostly made up of client satisfaction surveys, asset additions, and retention. I feel that we are grossly underpaid for the role, but not sure exactly how that compares.

Hi everyone, need some advice.
A local b d / ria has an opening for an Advisor. We provide the leads in the form of current abandoned brokerage clients and the advisor just needs to build relationships and grow the business.
In addition he/she would have the opportunity to build and lead a team of other advisors.
For a candidate with 12+ years of experience what would be an appropriate compensation structure (base plus commission %)
Thank you in advance for your help.

Two office shop... 5 advisors... two junior, one mid career but starting over after leaving a bank program.... two senior top producers....love to hear junior advisors thoughts on fair compensation and path to success as part of the team... love to hear what worked for senior advisors growing their business....

If anyone is interested eliminating the IFs in their employee model practice let chat. I’ve been consulting advisors for the past 10 years on ways to dominate the IFs. Doing so creates consistency leading to focus and focus equals growth. What are your IFs - comp- product push- flexibility- compliance restrictions ????

8 yrs in the business and my take home pay is around $130k but I run my own book and on no salary. I’m being offered a salary position at Citi to be a private banker for $150k + bonuses... Would you jump ship? I’m seriously considering it

Curious what everyone’s bonus structure for their admin staff is like this year? Obviously a crazy year and they came in almost every day among everything has happened and has done quality work. Do you base it off of growth at all? Percentage of salary? Doing anything outside of your norm for 2020?

Is there a entry-level FA or associate position out there, that offers at least an initial salary? Everything I see is full commission which I understand but what about the ones looking to learn their way up? recommendations? Thanks

Have a long term goal of growing a full service office. A team of wealth managers, planners, life insurance agent(s), PC agent(s), etc. with support staff as needed. Everyone has a role. My question is how should I structure the comp? No idea what’s standard in this structure or where to even research models in our industry. Any ideas?

Advisors under 30, which is more attractive to you: 100k salary, 80k plus bonus opportunity (bonus between 5-40k), or 40k salary plus 50% of production.
First two include heavy non solicit contract, last option is full ownership of your book. Which one and why?

Getting headhunted hardcore for a salaried banker position ($100k+ bonus) and right now I’m making $65-$70k as an FA in a development program. I’m hitting my tiers but I hate the program. This banker role would not have me in a program... what are pros/cons to leaving to go to a role like this?

Lots of RIA’s are hiring salaried advisors. What’s the average salary for a salaried advisor position?

Hey guys. I’m in the Merrill and I make around $55-$60k. I’m being offered a role at Citi Private Bank and the salary is $90k with bonus. I’m considering making the switch b/c the payouts at Merrill suck and I’m burnt out dialing for dollars. The Citi bank position also involves working an existing book of biz and I think I’ll like that better even though the upside in $ is limited. What would you do? Do you think I’ll regret leaving the fee based model?

Hey fishbowlers! Question concerning compensation for an FA assisting the main advisor on a $135M book. I am doing a lot of the work now as he is going to retire in 4-5 years and he is taking a step back. I do all the investment management in the account. Only 4 years of experience but I've picked this up quick, am series 9-10 licensed and halfway through the CFP.
What is fair compensation for someone like me? I don't know what is typical or fair.

Anybody aware of something changing at Merrill? We have a meeting next week that’s mandatory and not clear on subject matter. So typical A type FA, I assume it’s a comp change. Anyone know anything?

Does anyone know how you get paid in the Raymond James AMP Program?
Details of salary and commission payout would be great.

Does anyone know anything about the financial consultant role at E*Trade and what the total comp look like? What’s their reputation on the street?

Can anyone tell me the best sources for me to research compensation models? I have asked for a new comp plan with my firm and need to research competitors. Thanks

I have an admin that has a license for insurance business. I pay her a salary and she has brought in some new business. What % split would you pay her on the insurance business she brings in?

Does anyone know about fidelitys platform, base, compensation and goals?

Spokane, WA new hire comp: They pass test (I reimburse) then pay starts. Year 1: $40K & 10% comm. Year 2: $30K & 20% comm. Year 3: $20K & 30% comm. Year 4: $10K & 40% comm. Year 5: 50% comm. Thoughts?

Does anyone know anything about being a partner/sales manager at New York Life? What are the responsibilities, compensation etc..?

What is an appropriate starting salary for a part-time client service associate with no prior experience and not registered?