Personal Financial Advisor Career Information : Personal Financial Advisor Salary

[altfseven]

you need to add in there to be a good advisor, it helps if your a decent person. there are, like any industry people who give good advice service and treat it like the profesional profession, and the others that rip it up and make a buck.

for me, the more you mess it up, the more work there is for me to tidey it up and make it work. and the more i work i get the better all my clients have to me staying in the industry alot longer

[magicoke1]

This isn't a salary based job. The more clients you help out the more referrals you will get. If you work with a big financial firm like world financial group. You have a team to work with and you are your own boss with flexible hours

[Jessica164]

Heck, I always thought of this as being able to make ends meet. I didn't know you could potentially make millions but then I guess you'd have to be advising for pretty big companies to pull in that paycheck. I'd be fine with making just $50K.

[PerpetualFire]

Advice to financial advisors - Remuneration should be secondary to being a fiduciary (acting in your clients best interest) - help your clients achieve their goals and objectives. The commissions and bonuses will follow.

[65redbone]

Yea that's onlyh if you don't have another advisor who takes your practice and fire you for a paperwork violation. Once you've been there 3 weeks they blow you out the door once you've recruited allof you friends and family. It's a Ponzi scheme.

[markfuller042]

I would say, you're a very good advisor.. I wanna know you better and talk about business. You have a good video Janice keep it up!

[BobbyHaet]

This is also very competitive there is an agent around every street corner (at least there is where I live) You have to pay many of your own expenses (Agency fees if you do not meet quotas< O & E insurance, licensing, office rent, supplies, etc.) I do not think selling insurance, annuities and mutual funds are the answer to everyone financial needs. I almost felt like I had to mislead people and just sell them something even if it wasnt in there best interest to meet my sales managers quota..

[JasonBourne342]

@BobbyHaet

were you a financial advisor?

[BobbyHaet]

Do not believe this lady. Shes a sales woman of course she can sell a job if nothing else.. I find the title financial advisor misleading. At the end of the day you get paid for sales, hence they should call it what it is "financial sales". In my opinion an advisor should be someone who really cares about their client and gives them advice. I attempted this job and lasted one year. Didnt make a dime. Sure I could have stuck it out for another 5 years and probably started to do well but ...

[Toxicjazzlove]

@dish94 I had a friend in HS whose dad was a FA and they had nice cars and a big house

[silverkasik]

I need $3M now! not when I get 60+ after 30years. And I am working on my series 7, 66, life etc. maybe I should switch to something else... :(

[BillHicks420]

@silverkasik Is money all you care about, really?

[TheBlackLesbian]

only 5% of people who attempt this job will make it.

[bsd4me]

@TheBlackLesbian why is that?

[dish94]

i'm 15 right now and i wanna become a financial advisor and make millions!!!: DDD lol easy to say hard to do -_- xD

[TheBlackLesbian]

It's very boring, just letting you. I've been an advisor for 1 year now...but yes the money is good.

[dish94]

@TheBlackLesbian okay...when u said the money is good...does that mean enough good to afford a big house and a nice car?:P sry if its too personal xD

[TheBlackLesbian]

Enough to pay off my huge college debt. I can only speak on my experience, because it's not a salary job. The potential to make millions is there, but you have to have been working for like 20 or 30 years. It takes time to build clients.

I know that Financial Analyst make more.

[wheightsd]

If you are at any professional job for 15 years you should be at the 100-200K level...

[theEBKman]

do you have to be really good at math for this shit lo!

[pibada2]

if you're averaging 125-250 range after your tenth year, you are in the lower quintile.

[Buttanator]

If you are working 10 year in the IT field will make 125k and you don't have to suffer the first 5 years. Point is that few people make it that far and make money. As I mentioned underneath maybe .5% and guess what? .5% of Entry Level employees end up making 200k/year if they stick with company for 10/15 years.

[pibada2]

Most wirewhouses have a min production level.

My first year, my take home pay was 75 before taxes. By the end of my fifth year, I was averaging 520k in production with a 37% payout. I can tell you, I'm not the brightest guy nor do I consider myself in the top 0.5%. I know plenty of advisors like myself who are either at my level or higher.

Botton line, it's not about luck or timing but your work ethic and determination to succeed.

[Buttanator]

Respect for you. Like I said very few make it and you are one of them. But think about how many people you seen come and go in your five years. Why did they leave? Are they bad sales men? No!!! It's because the companies don't pay crap unless you sell. And it takes time to build a business ground up. But what good is it if you can't make your mortgage in the mean time?

[toyotas2006]

Who's been punching her in the face?

[Buttanator]

Most of it is true. However she forgot to mention maybe .5% of the of the people starting this job actually make it past 2 years. Not 5% but .5% And yes those .5% make good money. Now the other 99.5% end up with bad credit and broke.

[Analysta654]

@Buttanator

I agree with you. While I am not sure of the percentages, I do know that the majority of people don't make allot of money, even after the 5-10 year mark. Further, the people who leave before then do so because they are not making enough to live on. What a deal for the financial services company. Have someone work cheap for a few years then when they leave, they get to keep their clientèle. Talk about a win -win for the fin. svcs. company!

[Buttanator]

Well, they don't work cheap but work for free. Most companies will not pay unless you sell.

[puppetmasterblaster]

Dont kid yourself. You cant get into this field unless you have lots of rich contacts and they have lots of rich contacts.

Try being born rich in your next life, then maybe you can do this kind of job.

[Bloodymuddy]

True Ignorance to just say all financial advisors were born connected. You have to make these contacts and be really smart. Nothing in Life is handed to you.

[Stretch2325]

Woops, maybe I should watch the video before a make comment. Lol

[Stretch2325]

Three million dollars a year?????? Thats a typo right?

[55Duran]

no its not

[jlr273]

You certainly could follow that route if you want to. To me being a sales professional is all about leveraging people and your time. There is no reason you can't make a 6 figure income as a FA in your 1st year as long as you get in front of the right people and help them with their pains. To me being a FA isn't worth doing unless you reach that 6 figure plateau in 6 to 18 months.

[Buttanator]

I have been a financial advisor 3 years. I averaged 50k per year. I met one person in my company who made 100k+ first 18 month and that was pure luck. He made that off of one case. Pure luck and even he admitted it. Right place at the right time.

[entreprenuer7island]

Great Stuff..everyone should be taking thier financial planning very carefully these days.

[stillcole]

holy crap long term planning