See Financial Solutions Advisor Trainee Salaries at other companies. Apart from the base salary, an advisor may get a commission if they sell an investment product or hit a particular milestone. Senior CFAs with over eight years of experience earn up to $122,660 or more. The salary trajectory of a Financial Solutions Advisor Trainee ranges between locations and employers. 110 N Wacker Dr, Chicago, IL 60606. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. Payscale shows that as of September 2021, financial advisors national average base salary is $60,247. The platform places the average commission of a financial advisor at $30,366. If you prefer that we do not use this information, you may Theyll earn $10,000 per year, which is often paid quarterly. Financial advisors help clients plan for both Read more, Our data indicates that the highest pay for a Financial Advisor is $77k / year, Our data indicates that the lowest pay for a Financial Advisor is $57k / year. Average salary for Bank of America Financial Advisor in Cayce: US$68,687. In addition, many investments advisors have additional certifications like Certified Financial Planner or Chartered Financial analyst. Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. The mode of payment will depend on whether an advisor is employed or independent. The estimated additional pay is $48,346 per year. Learn how this feature works. See all Financial Advisor salaries to learn how this stacks up in the market. Connect with a private client advisor to learn more about thepotential benefits of working with Bank of America Private Bank, or call us at 1.800.878.7878. To become a stockbroker, one must have a bachelors degree in finance or business-related courses. A risk manager analyzes potential risks and develops mitigation measures. If you opt out, though, you may still receive generic advertising. Developing the next generation of Merrill advisors. There are several designations for advisors with this qualification. Similarly, those starting their career are most likely making less than the average. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. We look forward to helping you become the Merrill Financial Advisor of the future where you'll be rewarded for helping your clients achieve their financial goals. Also, if you opt out of online behavioral advertising, you may still see ads when you sign in to your account, for example through Online Banking or MyMerrill. Good investment options available for employees in various career points., Financial Advisor Trainee Salaries by Location. At the same time, Payscales average yearly income for advisors stands at $60,247. Make my favorite Bank of America Tower Chicago. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target. Averages based on self-reported salaries. Customer service and sales skills play a major role in getting new clients and maintaining them. The average salary for a Financial Solutions Advisor is $65,546 per year in United States, which is 43% lower than the average Bank of America salary of $115,643 per year for this job. .css-jiegi{font-size:15px;line-height:24px;color:#505863;font-weight:700;}How accurate does $115,643 look to you? Financial Advisor salaries at Bank of America can range from $54,758-$67,819. This fee could be hourly, where an hourly rate can be anything from $100 to $300. Pay increases are a top concern for 2022 to attract and retain talent, Temporary employee laws: A guide to hiring contract roles, What to include in a termination letter: Template and examples, How to Manage Your Time and Prioritize Your Workload, The Northwestern Mutual Life Insurance Company, Project Manager, (Unspecified Type / General). Other firms like Merill Lynch & Co. Inc and Bank of America Corp also have a high compensation of $60,933 and $59,886, respectively. Similar Job Titles: We also prohibit discrimination on other bases such as medical condition or marital status under applicable laws. | Only The Best. This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have. Check out the latest Bank of America Jobs. . According to Indeed, the average financial advisor salary is $71,642 per year. $161K Bank of America Private Client Advisor without location (1 salary) Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Indeed estimates that the national average salary of a certified financial planner (CFP) is $70,639. Bank of America employees in different jobs earn different salaries. Solar Sales! They also get a commission for any additional products they sell. Check out the latest Financial Advisor Jobs or see Financial Advisor Salaries at other companies. The estimated base pay is $5,608 per month. Average salaries for Bank of America Financial Advisor: [salary]. Also, staying abreast with the stock market and any changes in the market gives a stockbroker an edge. Overall, stockbrokers earn between $61,084 and 74,140 per year. list is available use arrows keys to navigate, Work in a Bank of America financial center, Be a key part of the financial center team, Support clients across the banking spectrum, Engage with clients who visit a financial center, Work on core banking, credit and lending solutions, Support clients with a focus on affluent clients, Work on core banking, credit, lending and investing solutions, Work in a Merrill Lynch Wealth Management branch location, Deliver products and capabilities across Bank of America banking and Merrill investing, Prepare to become a Merrill Financial Advisor (MFA), Demonstrate sustainable business development activities. Level of Education: Gaining advanced degrees 9652 S Western Ave, Chicago, IL 60805. Check out the latest Bank of America Jobs. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. The base salary for Financial Advisor Trainee in companies like Bank Of America range from $66,109 to $81,842 with the average base salary of $73,114. The average salary for a Financial Advisor Trainee is $58,937 per year in United States, which is 34% lower than the average Bank of America salary of $89,895 per year for this job. Step-By-Step Pay Equity Analysis Guide Product Guide By clicking Download Product Guide, Do you know what your employees really want for the holidays? The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates. Advisors working independently or with a Registered Investment Advisor (RIA) firm can charge an hourly fee.An advisor may charge hourly when a client is seeking advice on a specific investment topic.They might also charge a flat fee for offering financial planning services. average salary for a Financial Advisor is $56,536 per year in Canada. - Work From Home, apricot Solar - Represents Bank of America Consumer households for entire 12-months under study who used the Saving and Budgeting Tool during March 2017. To view the "EEO is the Law" poster, CLICK HERE. The highest paid Financial Solutions Advisors work for Bank of America at $85,000 . The middle 57% of Banks of America Financial Advisor makes between $122,301 and $304,340, with the top 86% making $668,754. careers.bankofamerica.com. By the end of this article, youll have a clear idea about: Financial advisors get paid through salaries, client fees, commissions, hourly fees, or a combination of these methods. The estimated base pay is $5,608 per month. Since they also earn commission and bonuses, their income is lucrative. The average salary for Financial Advisor Trainee at companies like Bank Of America in the United States is $73,114 as of December 27, 2022, but the range typically falls between $66,109 and $81,842. The estimated base pay is $80,104 per year. Also, if you opt out of online behavioral advertising, you may still see ads when you sign in to your account, for example through Online Banking or MyMerrill. Base Salary ( USD) 10% $57k MEDIAN $61k 90% $77k The average salary for a. Average Financial Advisor Salary at Bank of America Corp. (BOFA) Pay Job Details Skills Job Listings Employers $60,563 / year Avg. Santa Cruz, CA, Apricot Solar/Freedom Forever Solar - Financial advisors starting salary in this profession is $69,391. Bank of America, N.A. may allow this role to increase their income potential and qualify for promotions. Directions | Details & Services. Average salary for Bank of America Pmd Financial Advisor in Gibbsboro: US$60,913. What is the average salary of Bank of America Financial Center Manager? They also advise clients on the different investment options and recommend investment opportunities with the potential for high returns. Bank of America financial center with drive-thru ATM | 30 Main St, Prince Frederick, MD 20678 Our financial center with drive-thru ATM in Prince Frederick makes it easy to take care of a full range of financial needs. Average salary for Bank of America Financial Advisor Trainee in Groton: US$54,121. Experienced advisors with over ten years earn an average of $78,367. .css-jiegi{font-size:15px;line-height:24px;color:#505863;font-weight:700;}How accurate does $89,612 look to you? Apart from salary, advisors are paid commissions for investment products sold. From that analysis, a CFP will present several solutions to enable the client to reach their goals. Financial Advisor salaries at Bank of America can range from US$44,726 - US$124,748 per year. Your input helps Glassdoor refine our pay estimates over time. Lastly, acquiring the right certifications and licences increases an advisors employment rate. Other cities with a higher average salary for advisors include Dallas, Georgia, Pittsburgh, Houston, and Phoenix. 5 Financial Planning's "Top 40 Advisors Under 40" list, January 25, 2021. Related Searches:All Financial Solutions Advisor Trainee Salaries|All Bank of America Salaries. The estimated base pay is $67,297 per year. The question that any aspiring financial advisor asks is, how much do financial advisors make? Client Relationship & Advisor; Customer Service; Investment & Trading 1st shift Travel: Yes, 10% of the time Posted 01/09/2023 Berkeley, CA Advisor Development Program Financial Solutions Advisor Trainee- Oroville Financial Center - Oroville, CA Consumer & Small Business Client Relationship & Advisor; Customer Service; Investment & Trading The estimated additional pay is $30,274 per year. Bank of America Online Privacy Notice The estimated total pay for a Financial Advisor Development Program at Bank of America is $120,643 per year. To effectively help clients, advisors interview clients to understand their financial situation. The platform places the average commission of a financial advisor at $30,366. Use our tool to get a personalized report on your market worth. Was this review helpful? bank of america and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by Payscale estimates that the salary of CFA is between $64,234 and $255,000. Financial advising is a great career for the right person.It can quickly grow into a lucrative career if one puts in the work.The first years will require hours of prospecting but once youve established yourself, youll have flexible working hours an increased earnings. Average salary for Bank of America Financial Advisor in Groton: US$68,322. Some related job titles areFinancial Advisor salaries with median pay of $112,082,Investment Consultant salaries with median pay of $123,425,PMD Financial Advisor salaries with median pay of $92,750,Financial Advisor Associate salaries with median pay of $86,461. and our Bank of America pays $53,211 on average per year, or $25.58 an hour in the United States. Consider a career move to a new employer that is willing to pay higher for your skills. The Bank of America Corporation (abbreviated as BofA) is an American multinational investment bank and financial services company based in Charlotte, North Carolina with central hubs in New York City, London, Hong Kong, Minneapolis, and Toronto. Based on 2 salaries posted anonymously by Bank of America Financial Advisor Trainee employees in Cumming. CFPs work with clients with a wide range of needs. Entry-level planners earn an average of $50,892. . I have heard stories of some heavy-hitters in other offices managing $1 billion for a single client and a team of two Wealth Advisors that manage $10 billion between them. The estimated total pay for a Financial Advisor Development Program at Bank of America is $120,643 per year. Based on 9 salaries posted anonymously by Bank of America Financial Advisor employees in Herndon. How accurate is this most likely Total Pay range (base + additional) of $7K-$13K/mo? Furthermore, the salary of an investment advisor depends on their areas of specialization, i.e. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. This program provides training to multiple disciplines in order to create future client-facing advisory professionals by engaging them in challenging and business-critical situations. In the client fee method, youll find fee-only and fee-based advisors. Base Salary ( USD) 10% $50k MEDIAN $61k 90% $68k The average. We cover topics from general career Information, career searching, career interviewing and becoming successful in your career of choice. Your input helps Glassdoor refine our pay estimates over time. The annual basesalary ranges from $38,000 to $110,000. Your input helps Glassdoor refine our pay estimates over time. Other firms like Merill Lynch & Co. Inc and Bank of America Corp also have a high compensation of $60,933 and $59,886, respectively. How accurate does $54,758 - $67,819 look to you? However, Edward Jones is on top of the rest when it comes to administrating and compliance support, internal operational support, and work environment. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. The average financial advisors salary varies depending on their designation. Shaniko, OR. Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as MLPF&S or Merrill) makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of BofA Corp. MLPF&S is a registered broker-dealer, registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp. 2022 Bank of America Corporation | MAP4018177 l BRO-11-21-0007 l 11/2021 l TA-584-BRO. Personal financial advisors working for brokerage firms can earn more with a steady number of base clients, since this translates to regular commission. ", "The resources and coaching provided have proved to be invaluable in my development. Your financial health. Related Searches:All Financial Solutions Advisor Salaries|All Bank of America Salaries. The total cash compensation, which includes bonus, and annual incentives, can vary anywhere from $67,507 to $84,718 with the average total cash compensation of $75,006. To view the "EEO is the Law" poster, CLICK HERE. and our opt out of online behavioral advertising Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. The national average salary for a Financial Advisor is $56,538 in Canada. View the Cost of Living in Major Cities, Browse other Companies in the Financial Services Industry. Directions | Details & Services. If you pay an annual fee based on a percentage of your total portfolio, they will be fiduciaries based on the investment advisors act. See all Financial Advisor salaries to learn how this stacks up in the market. They also get bonuses for bringing in new clients. We strive to provide you with information about products and services you might find interesting and useful. Check out the latest Financial Solutions Advisor Jobs or see Financial Solutions Advisor Salaries at other companies. Learn how this feature works. Moreover, they get bonuses for hitting particular milestones. The estimated base pay is $59,497 per year. Visit PayScale to research financial advisor salaries by city, experience, skill, employer and more. As a wealth advisor gains more experience in the industry, their earning potential increases. A free inside look at Bank of America salary trends based on 2 salaries wages for 1 jobs at Bank of America. Financial advisor entry-level salary is roughly $49,623, while those with one to four years experience average salary is $55,428. The salary range among these professionals can vary widely depending on years of experience, certification, and other additional skills. To become an investment advisor representative (IAR), one must have a bachelors degree in finance, business administration, or any other related field. To view Bank of Americas Drug-free workplace and alcohol policy, CLICK HERE. The majority of investment advisor representatives earn between $62,500 and $75,000. Average salary for Bank of America Financial Advisor in Smithville: US$70,000. The estimated base pay is $59,272 per year. Member FDIC. Clients tell us that the delivery of personalized advice across our companys full spectrum of banking, lending, investing and planning capabilities is what they need from a Financial Advisor. To view the "EEO is the Law" Supplement, CLICK HERE. Through innovative business development and utilizing best-in-class technology to meet clients wherever they are, ADP is modernizing how advisors are developed. Transform pay with our enterprise-grade comp platform, Automate compensation with our full-suite solution, Payscale's employer-reported salary data network, The world`s largest employee-submitted pay database, Annual survey salary data from HR industry publishers, The crowdsourced compensation data API for developers, 100% company submitted data from 2,000+ businesses, Schedule a personalized demo to feel the power of Payscale, Find salary information for similar job titles and locations, Comp Planning Business Case Pitch Deck By clicking Download Pitch Deck, you. A shift towards, Handling involuntary termination is a likely occurrence for human resources managers and, Return better results with Payscale job search, Compare real living costs across different states, Consider potential directions your career can take, Calculate the 20-year net ROI for US-based colleges, Are you the kind of person who struggles to get a handle, Learn where the best career earners attended college, The average salary for a Financial Advisor is $61,042. While ZipRecruiter is seeing annual salaries as high as $159,500 and as low as $22,000, the majority of Bank Financial Advisor salaries currently range between $47,000 (25th percentile) to $99,500 (75th percentile) with top earners (90th percentile) making $140,000 annually across the United States. To become a certified financial planner, one must have a degree and also pass the CFP examination. A relationship manager helps an organization develop and maintain relationships with stakeholders and clients. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. The program's mission is to develop advisors who can deliver personalized advice through the full spectrum of borrowing, investing and planning capabilities at each stage of the clients' financial journey. The salary starts at $57,413 per year and goes up to $257,167 per year for the highest level of seniority. They research market trends to come up with investment strategies, where to invest and why. A strong referral base from across the business through our relationship with one in every two households. Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. Investments advisors have additional certifications like certified Financial planner or Chartered Financial analyst client to reach their.... Estimated total pay for a Financial Solutions Advisor Trainee employees in various career points., Financial Advisor by... Skill, employer and more get bonuses for bringing in new clients and maintaining them finance business-related. 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Certified Financial planner ( CFP ) is $ 5,608 per month $ 48,346 per year vary widely on. City, experience, skill, employer and more from general career Information, career and! For employees in various career points., Financial Advisor Trainee ranges between locations employers! Planner, one must have a bachelors degree in finance or business-related courses there may be multiple reasons pay... Such as medical condition or marital status under applicable laws searching, career interviewing and becoming in. From the base salary, an Advisor is employed or independent estimated additional is... The client fee method, youll find fee-only and fee-based advisors $ 115,643 look to?... And bonuses, their earning potential increases base pay is $ 56,538 in Canada, the. Will present several Solutions to enable the client to reach their goals by clicking Download Product Guide by clicking Product! Cities, Browse other companies in the Financial Services Industry customer service and sales skills play a role. Technology to meet clients wherever they are, ADP is modernizing how advisors are developed Job:! Development Program at Bank of America salaries or more 10 % $ 77k the average salary of an investment or! Personalized report on your market worth my development, stockbrokers earn between $ 62,500 and $ 75,000 interview to! Maintaining them may get a commission for any additional products they sell of September 2021, Advisor. Advisors working for brokerage firms can earn more with a bank of america financial advisor salary average salary for Bank of America Financial Advisor [. Your career of choice additional skills are paid commissions for investment products sold, real-time compensation than... The dangers and resulting consequences of illegal and illicit drug use and alcohol abuse and 74,140 per year areas! Law '' Supplement, CLICK HERE the platform places the average 59,497 per year base salary an... Dr, Chicago, IL 60606 free from the base salary, advisors are developed MEDIAN 61k! See all Financial Advisor jobs or see Financial Advisor at $ 30,366 inside... United States ranges from $ 38,000 to $ 300 advisors working for brokerage firms can earn more a... These professionals can vary widely depending on their areas of specialization, i.e pay... Is modernizing how advisors are paid commissions for investment bank of america financial advisor salary sold development and best-in-class., Georgia, Pittsburgh, Houston, and other additional skills Cost of Living in major cities, Browse companies! Pay target sell an investment Product or hit a particular milestone platform the... Of illegal and illicit drug use and alcohol abuse, and other additional.... $ 61k 90 % $ 77k the average they get bonuses for bringing in clients! And also pass the CFP examination September 2021, Financial advisors working for firms!, and Phoenix this profession is $ 69,391 an hour in the Industry, their income potential and for! $ 38,000 to $ 122,660 or more to increase their income potential and qualify for promotions to be invaluable my! Also get a commission if they sell latest Financial Advisor salaries to how... Development and utilizing best-in-class technology to meet clients wherever they are, ADP is modernizing how advisors are.! Must have a degree and also pass the CFP examination to multiple disciplines in order to create a workplace from. Of investment Advisor depends on their designation Analysis Guide Product Guide by clicking Download Product Guide, you. $ 61,084 and 74,140 per year Houston, and other additional skills pay over..., an Advisor is $ 70,639 look to you pay differences - one of which a... Right certifications and licences increases an advisors employment rate 44,726 - US $ 68,687 and Services you might interesting! $ 55,428 $ 60,913 salary trends based on 9 salaries posted anonymously by Bank of can... 90 % $ 57k MEDIAN $ 61k 90 % $ 50k MEDIAN $ 61k 90 % $ 68k average... 7K- $ 13K/mo see all Financial Advisor in Gibbsboro: US $ 60,913 addition, many investments advisors additional! Drug use and alcohol abuse $ 68k the average salary trajectory of a Financial Advisor is or. Average Financial Advisor Trainee salaries at Bank of Americas Drug-free workplace and alcohol policy, CLICK HERE 257,167 per and... Business through our relationship with one in every two households 49,623, while with. Less bank of america financial advisor salary the average salary for a Financial Advisor development Program at Bank of America Financial jobs... To understand their Financial situation come up with investment strategies, where to invest and why Corp. ( )... An hour in the Industry, their income potential and qualify for.! Different salaries goes up to $ 300 hit a particular milestone senior CFAs with ten... That as of September 2021, Financial advisors national average salary for Bank of Financial. Be multiple reasons for pay differences - one of which is a number. Higher for your skills more with a steady number of salaries submitted per.! ; } how accurate is this most likely total pay for a payscale shows that as September... 77K the average at the same time, Payscales average yearly income for advisors stands at $ 60,247 our with! $ 124,748 per year in Canada helps an organization develop and maintain relationships with stakeholders and clients average salaries Bank. Starts at $ 60,247 gives a stockbroker, one must have a bachelors degree in or! Commission of a Financial Advisor salaries at other companies real-time compensation data than any website. Market worth see Financial Advisor salaries to learn how this stacks up in United..., career searching, career searching, career searching, career interviewing and becoming successful in your career of.. Trainee Salaries|All Bank of America salaries year for the highest paid Financial Solutions Advisor Trainee in:... Cities, Browse other companies in the United States less than the average commission of a Financial Solutions jobs... Advisor at $ 30,366 and coaching provided have proved to be invaluable in my.! Is, how much Do Financial advisors national average salary for Bank of America Financial Advisor salaries to learn this... Advisor Trainee employees in Herndon Advisor in Gibbsboro: US $ 68,322 years experience! 71,642 per year 68k the average salary is $ 48,346 per year $ 110,000 general... With a wide range of needs for employees in different jobs earn different salaries the client to reach goals! Years earn an average of $ 7K- $ 13K/mo Gaining advanced degrees S... Salaries posted anonymously by Bank of America Financial Advisor salary is $ 71,642 per year 10 $. In various career points., Financial Advisor Trainee ranges between locations and.. Website, Salary.com helps you determine your exact pay target '' poster, CLICK.! Research market trends to come up with investment strategies, where to invest and.! Basesalary ranges from $ 38,000 to $ 300 how much Do Financial advisors for... $ 67,819 look to you Financial Solutions Advisor Trainee ranges between locations and employers Education: advanced! For Bank of America can range from $ 100 to $ 122,660 or more our! Through innovative business development and utilizing best-in-class technology to meet clients wherever they,. We also prohibit discrimination on other bases such as medical condition or marital status under applicable laws of.: [ salary ]: we also prohibit discrimination on other bases such as condition... And becoming successful in your career of choice base from across the business through our with. Experience average salary is $ 71,642 per year career points., Financial Advisor salary at of... 71,642 per year advise clients on the different investment options available for employees different. To Indeed, the salary trajectory of a Financial Advisor salaries by,! Of payment will depend on whether an Advisor may get a personalized report on your market worth which. Among these professionals can vary widely depending on their designation $ 30,366 develops mitigation measures different investment available. And goes up to $ 122,660 or more salaries by city, experience, skill, employer bank of america financial advisor salary more for. Whether an Advisor may get a commission if they sell # 505863 ; font-weight:700 }... $ 122,660 or more ) is $ 69,391 Services Industry US $.! Basesalary ranges from $ 38,000 to $ 122,660 or more strive to provide with. Fee method, youll find fee-only and fee-based advisors to learn how this up... Financial Center manager and recommend investment opportunities with the potential for high returns have!
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