Financial Advisors Discussions
Salaries

Been in the financial services industry for seven years now, currently at Citi Private Bank as an associate banker and considering moving over to Fidelity for a financial consultant role.


Feel like Citi lowballed me on my base but at Fidelity my base and the additional comp they give is only guaranteed for the first year and after it drops to base and a variable structure but the potential to outpace my total comp at Citi I believe.

Any advice on a decision like this?

Fish bowl fam,

I am a Registered Associate at a wire house in the Northeast with 2 YOE. Base $55k / bonus is a % of net new assets paid monthly, roughly $15k annually on average. Team does $3mil in production.

I want to renegotiate my comp - two main issues being 1) base is too low & 2) bonus is paid by FAs under the table - hate this because timing is sporadic and can’t claim the income.

Any recommendations on a better structure?
Or, how are people in similar roles paid?

Thanks!!!

I’m an advisor at a large ($9b) multi family office in NYC, advising on portfolio construction for 6 client families ($400m total AUM) in conjunction with one of the firm’s managing partners. I’ve worked as an advisor for 3 yrs now, and was a CSA for 5 yrs prior. My base is currently $125k plus fee commission of $130k. I’ve only ever worked at this firm, and have had a hard timing gauging if my comp is market rate. I’d love to hear if this is in line with others in a similar stage & situation

I recently graduated from uni and started working as an FA Trainee. I have been learning quite a lot honestly but still looking for other opportunities. Extremely intrigued by the wealth management side. So, can anyone give me an idea of what skills and qualifications are essential to break into the wealth side? Also, my current compensation is very discouraging so, it is also a reason why I need to look out for better opportunities.

Can people please discuss how compensation went after they got registered early in their career as Client Associates? How discussions went with FAs, % you got of the T12, etc? Thanks!

Can anyone provide insight on comp for a Financial Planning Associate with Vanguard in DFW? Hold my series 7/63 and towards the end of my CFP

Hi Friends, I’m interviewing with New York Life for a CVP /director position can someone let me know the levels of CVP and corresponding salary ? Is CVP lower than director ? Where is VP in this hierarchy. Coming from banking where everyone is a VP :)

TC 220
Yoe 10
New York

Received an offer from a firm with over 13B AUM. They work under Stifel and I would be the 6th registered advisor associate set to get my 65 in addition to my 7,63. Offer for $73.5 and unknown bonus structure not eligible until 2023. Potential offer from firm in the sports and entertainment section of ML. Greater income potential but a boy club. I feel like I am missing something when assessing the options.. please help!!!

What is the typical salary for a high net worth client associate? I'm in the philly area.

Looking for insight on avg total comp for registered middle management with big bank. Considering making the jump from a branch advisor to managing a team of branch advisors. I’m newly 9/10 licensed. I’ve been building book in a bank branch but the consumer bank side of the job is draining. I’m making $155k total, $75k of that is salary. Anticipating a $130k salary offer if I go management route, with small annual bonus. Any others with experience that can speak to this?

What would be the Average salary for a Financial Advisor (fresher ) in one of the big six banks ?

Looking to start my career in a FA role. I’ve been in banking for several years and have been licensed for more than two. Since becoming licensed, my role was to find assets and then refer to FA for them to close the deal. Boa/ML has made me an offer for a financial solution advisor. Without any context seems fair, but I’d like to get y’all’s opinion as professionals in the industry. 70K Base+comp based on production (aquisitions+retention). Any input would be greatly appreciated. TÍA

Is this a good offer? I have one year self-employed advisory experience and have been offered an employed role with a $73,000 basic and a production bonus of 30% on new business production over 3.5 x salary and 15% on trail. Nominal annual bonus (I expected it to be less than $5,000).

I know I can earn more going self employed but it was too hard to make the standing start work so I want to get a few years experience under my belt before trying again.

For an employed role how does this sound?

I've been interviewing with TD Bank in Massachusetts for a financial advisor position. I do not currently have my 65. If offered the position, I will be first offered a 60 day interim position when I would study for and take my 65 exam. After passing, I would be offered the FA position.

I have 2 years of retail banking experience, and have done exceedingly well in the wealth referral space. What should I ask for/be expecting in terms of base salary?

I’ve been talking to a very small firm, two owners, one other advisor and an assistant. The owners are wanting me to come on to their team to help with financial planning but also are open to me growing my own book as well (full book ownership, just pay them a fee) and salary for the planning portion. They have a large book and do very well. What are the “asks” I should bring up in my negotiations? I know they pay their registered assistant over $130k, so they seem to value employees.

Looking for some advice. I've been talking to another advisor thinking of bringing me on as a "Junior" and a salaried position plus bonus. His book is grossing 900k a year and my book that I would bring along is grossing only 20k. I have been in the business 4 years with a transition to independent (LPL) halfway through that.
My question is what is a fair compensation plan? What a good starting salary I should ask for and what benchmarks should I measure my bonus on?
Thank you

Anyone know anything about the FC role at Fidelity? A recruiter reached out to me and I wanted to know how the comp and culture is over there so I know what I’m walking into.

Anybody familiar with the Fisher Investments sales role? They give you a salary first 2 years plus commission, but the only thing that I don’t like is they no longer pay the trail on any account you open after 3 years. Just wanted to know if anyone knows anything about their program and if the FA’s are really getting THAT many leads to justify that comp plan.

Chase Private Client Banker salary? 7/63/65 already obtained. How much would you ask for?

Does anyone have any feedback on Senior Financial Advisor position at Kyndryl? Day to day role, overall culture, salary? Thank you!

Paraplanners/associate advisors/financial planners… how much are you making? (Salary & TC). Long story short… I found out what our PT admin assistant is making today & I’m livid 😂🫣

I was offered a position as an MA. Managing Associate for MassMutual. Have any of you guys worked as an MA for MassMutual. If yes what was the salary like. Please help.

Average salary (Midwest) for a senior client services associate? 14 years in the industry with L&H, 7, 63 licenses?

Urgent**
I’m 27 Male recently moved to Toronto. I have a student loan of $38,000 @ 11% p.a. I work as a consultant in a SAAS company and my salary is $80,000 ($4500) monthly. Repaying my loan from March 2022 ($500/m) . Need suggestions, I can use one entire pay check of $2250 and clear the loan in 16-18 months or should I invest regularly in stocks and continue paying $500/m till a year and then pay a lump sum a year after(2023). Planning to marry by 2024
So far:
5k in savings
5kcrypto
3k TFSA

Charles Schwab - I am currently licensed 7 and 66, 5yoe at another firm in a non-consultant role. I am interviewing with Charles Schwab for an FC role. Anyone with experience care to share the pro's and con's? Salary expectation in the Northeast region? 1st year total comp expectation?

I just finished first round of interviews at Charles Schwab. They mentioned starting off as a financial consultant level 1. Can anyone give insight as far as comp structure? What’s the average payout for this position? How long fits it take to move up levels?etc

What range should my compensation expectations be? 27 yo with Almost 4 years of experience in the RIA industry. Still same company since started, with $1.5B AUM (10 people team). Main tasks are FA for several clients, have my own clients portfolio of $20M. Member of investment committee, serve an associate for other FAs with bigger clients,im also responsible of all trading. I am Located in miami. I graduated from UF have a series 65 (plus other training) and I am also doing an MBA at UM.

For someone young in the business. How much do experienced FAs actually take home? If T12 production is 2 mil and comp rate is 50%, does the FA actually get 1 mil pre tax?

Prudential is offering a 20k sign on Bonus & 60% GDC. Anyone have thoughts on this? Ask more questions if need be

Received an offer from a PWM team as an associate at MSWM. They offered me $85k base with a $20k bonus as well as the opportunity for an additional 5-10k depending on performance. I feel like this is a little low and is in line with what I am making currently. Am I wrong in thinking this?

Anyone moved to Morgan Stanley as a transfer broker and joined a team? I’m with EJ now, been an FA for 5 years, $375k T12, $70m aum. Team that is looking to bring me on has $400m aum and ~$3.5m annual gross. What was your salary/bonus offer? Waiting for an offer but just curious what to expect.

Is there a good resource to benchmark ria salary/benefits? I have about 8+ years of ria experience with about 3 of those as lead advisor. I think I might be underpaid. I have seen some general salary bands but looking for something I can use to help understand where I should be.

Does anyone know the starting salary for Premier Banker at Wells Fargo @?

I got a job offer from manulife as a licensed insurance advisor.
Base salary is 36000 yearly and 21000 is bonus/incentives (based on sales target and performance)

Just want to know what will be the potential to earn the incentives if I really want to achieve the target.

Curious what the going compensation $$$ is for Operations Managers with a few years of experience in their current role, and 5 years of experience with a different company. I believe I am being underpaid at $65k per year.