How much does a Financial Advisor make?
Financial advisors help people manage their money. They look at income, expenses, and savings. They create plans to meet financial goals. The average yearly salary for a financial advisor is around $92,780. This means that half of financial advisors earn more than this and half earn less.
The amount a financial advisor can make depends on several things. These include experience, location, and the company they work for. Here are some average salaries in different areas of the job:
- 10% of financial advisors earn less than $37,550.
- 23% earn between $37,550 and $50,955.
- 34% earn between $50,955 and $64,359.
- 28% earn between $64,359 and $77,764.
- 18% earn between $77,764 and $91,168.
- 11% earn between $91,168 and $104,573.
- 7% earn between $104,573 and $117,977.
- 2% earn between $117,977 and $131,382.
- 12% earn between $131,382 and $144,786.
- 2% earn between $144,786 and $158,191.
- 1% earn between $158,191 and $171,595.
- 1% earn more than $171,595.
What are the highest paying cities for a Financial Advisor?
-
New Haven, CT
Average Salary: $152,064
In New Haven, a financial advisor plays a crucial role in guiding clients through investments and retirement planning. Notable firms like Yale Investments Office offer excellent opportunities. The city's academic influence ensures a steady stream of clients seeking financial guidance.
Find Financial Advisor jobs in New Haven, CT
-
College Station, TX
Average Salary: $136,968
College Station provides a vibrant environment for financial advisors. With a strong community presence and institutions like Texas A&M University, there are plenty of clients looking for expert advice. Advisors here often enjoy a diverse range of clientele.
Find Financial Advisor jobs in College Station, TX
-
Killeen, TX
Average Salary: $129,032
Killeen offers a stable environment for financial advisors, with many working for major companies like Fort Hood. The presence of military bases means a lot of clients looking for financial security. It's a growing city with many opportunities.
Find Financial Advisor jobs in Killeen, TX
-
Seattle, WA
Average Salary: $128,327
Seattle is a dynamic market for financial advisors. Tech companies such as Amazon and Microsoft create a unique demand for financial expertise. The city's fast-paced economy offers many opportunities for those who can keep up.
Find Financial Advisor jobs in Seattle, WA
-
Springfield, MA
Average Salary: $128,050
In Springfield, a financial advisor can find a mix of traditional and innovative clients. With major employers like MassMutual, there are plenty of opportunities to help people plan for the future. The city's rich history provides a stable economic backdrop.
Find Financial Advisor jobs in Springfield, MA
-
Wilmington, NC
Average Salary: $119,690
Wilmington offers a growing market for financial advisors. The presence of companies like Bank of America and aerospace firms like Lockheed Martin means a diverse client base. The coastal location adds to its economic appeal.
Find Financial Advisor jobs in Wilmington, NC
-
Boulder, CO
Average Salary: $114,086
Boulder provides a unique setting for financial advisors. The high concentration of educated professionals and outdoor enthusiasts means many clients seek personalized financial planning. The city's economy thrives on innovation and outdoor activities.
Find Financial Advisor jobs in Boulder, CO
-
Lincoln, NE
Average Salary: $112,596
In Lincoln, financial advisors work with a variety of clients from different sectors. The presence of institutions like the University of Nebraska provides a steady stream of clients. The city's stable economy offers many opportunities.
Find Financial Advisor jobs in Lincoln, NE
-
Worcester, MA
Average Salary: $111,047
Worcester offers a mix of traditional and modern clients for financial advisors. With a strong presence of educational institutions and healthcare companies, there are many opportunities to help people plan for their financial future. The city's diverse economy provides a rich field for advisors.
Find Financial Advisor jobs in Worcester, MA
-
Santa Rosa, CA
Average Salary: $110,886
Santa Rosa offers a pleasant environment for financial advisors. The presence of wineries and tech companies means a unique client base. The city's stable economy and beautiful setting provide a great backdrop for a rewarding career.
Find Financial Advisor jobs in Santa Rosa, CA
What are the best companies a Financial Advisor can work for?
-
Goodwin Recruiting
Average Salary: $233,864
Goodwin Recruiting offers rewarding roles for Financial Advisors. They provide financial planning and wealth management services to high-net-worth clients. Goodwin Recruiting has offices in major cities, including New York, Los Angeles, and San Francisco.
-
Medtronic
Average Salary: $165,967
Medtronic provides excellent opportunities for Financial Advisors. They focus on employee benefits and financial wellness. Medtronic operates globally with headquarters in Minneapolis, and offices in major cities worldwide.
-
Penske Automotive Group
Average Salary: $150,833
Penske Automotive Group offers valuable Financial Advisor positions. They manage the financial health of their employees. Penske Automotive Group has dealerships in many states across the U.S.
-
One Pacific Financial Strategies
Average Salary: $150,000
One Pacific Financial Strategies provides high-paying roles for Financial Advisors. They focus on investment and financial planning. The company operates in major financial hubs, including San Francisco, Los Angeles, and New York.
-
Northwestern Mutual
Average Salary: $136,294
Northwestern Mutual offers top-notch opportunities for Financial Advisors. They offer financial planning and insurance services. Northwestern Mutual operates nationwide with offices in major cities across the U.S.
-
First Command Financial Services
Average Salary: $130,485
First Command Financial Services provides rewarding Financial Advisor positions. They focus on comprehensive financial planning for clients. They operate in various states, with a strong presence in Texas and Florida.
-
Wealth Enhancement Group
Average Salary: $129,513
Wealth Enhancement Group offers attractive roles for Financial Advisors. They manage wealth and investment portfolios for high-net-worth individuals. They have offices in several states, including Massachusetts and New York.
-
Accenture
Average Salary: $127,410
Accenture provides valuable opportunities for Financial Advisors. They focus on financial strategy and consulting services. Accenture operates globally with offices in major financial centers worldwide.
-
Thrivent
Average Salary: $119,574
Thrivent offers rewarding Financial Advisor positions. They offer financial planning and investment management services. Thrivent operates nationwide with a strong presence in the Midwest.
-
MassMutual
Average Salary: $118,923
MassMutual provides excellent opportunities for Financial Advisors. They focus on life insurance and financial planning. MassMutual operates nationwide with a strong presence in the Northeast and Midwest.
How to earn more as a Financial Advisor?
A financial advisor can increase their earnings through various strategies. Building a solid reputation and client base helps secure more business. Financial advisors should focus on providing excellent service and maintaining strong relationships with clients. By doing so, they can earn more through client referrals and repeat business.
Here are some factors that can help a financial advisor earn more:
- Certifications: Gaining certifications can boost earning potential. Advisors with advanced credentials often command higher fees.
- Experience: Gaining experience can lead to higher salary opportunities. Experienced advisors can take on more complex cases and clients.
- Networking: Attending industry events and joining professional groups expands one’s network. This can lead to new business opportunities and higher earnings.
- Marketing: Effective marketing increases visibility. Advisors can use online platforms, social media, and local advertising to attract more clients.
- Services: Offering additional services, such as estate planning or tax advice, can increase income. Advisors can charge extra for these specialized services.
