Financial Advisors

What would you consider a starting salary range for an individual with 10 years experience in the industry and a CFP certificate of just over a year?

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works at

$0. After 10 years of looking for a salary the industry isn’t for you.

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Difference between asking about a salary and what they’re worth. Someone with that experience would know they can make far more on the sales side than they could be paid as a salary. Sooner or later you have to realize the only person you want to work for is yourself.

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To do? Financial planning? Be an associate? Is he bringing clients with him? Is he going to be client facing? Is he going to be responsible for bringing in accounts?

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I can’t imagine anyone with 10 Years experience and a CFP working for $45k. I’m barely more than a year in with no CFP and should clear about $65k.

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I respectfully disagree with you AXA Advisor. Not everybody wants to be self-employed. I for one have no problem being on the support side. I've been with my company 11 years, fully licensed, am solely responsible for around 120 financial plans, do not meet with clients or have a position where I am expected to bring in clients, and am currently working on my CFP. I was also wondering what kind of compensation advisors would be willing to pay, or how much others in a similar position make.

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What's their aum they will be responsible for constricting financial plans for

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I’d be insulted at $45k. I’m on salary, have a CFP, have more than 10 years experience and wouldn’t even consider the position. It has taken me years to get where I am today. I would expect the position to require my extensive knowledge and experience. Sales assistants make $40k to $45k base salary. You want someone you can trust, rely on, help bring in assets, and is loyal for the life long term while being as knowledgeable as you are or more and build strong relationships with your clients? Pay them what their worth and don’t skimp - they’re worth it.

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Depending on your size you might have to pay 6 figures.

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Curious as to why Ameriprise financial thinks that’s funny. I’m assuming you feel that’s way too low?

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Then I would figure out how many clients you will be//potentially be serving. Then figure out what their average financial scenario and portfolio is. From there figure out what your financial planning average fee would be. There ypur go know your worth.

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So 30k is out of the question?

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To do financial planning, client facing, and eventually start bringing in accounts.

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Case by case, no definition of AUM for planning.

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$45k

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Thank you Kingsview. I sincerely appreciate your input. My partner and I built the firm and dedicated all the hours and resources necessary and grew successfully without having to stop and think about that. As any dedicated entrepreneur would do, we just worked many hours tirelessly. We are now at a point where we had to hire another CFP to help service the book of business. New territory for us.

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We should talk about working together. I think there could be great potential between us.

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^^^^LOL

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Also interested to hear

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Wells Fargo Advisor, what do you mean by that? I ironically was just about to draft a post about compensation.

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