What is the salary for a financial advisor?

Answer

Salary does not really come into play. A financial advisor is not really a salaried position but mostly a 100% commision job. But big houses like Merrill, Prudential and Goldman give you a training salary for like a year or two while your building your book of clients of about anywhere from $35k to $50k depending on how much professional experience you have. That said the potential to make money in this profession is unlimited. The problem is getting clients. In this day and age it is harder to get because of online discount brokers, online free brokers, and electronic ecn's. No longer do you have the days when people had no other option but to call equity orders through the phone to a broker who in turn sent it to the floor of the stock exchange. All orders can now be matched by computers. The good news is that not all people in the world with money have the time to research, understand and follow the equities market. There are people out there who are willing to pay for a full service broker to handle their financial decisions. The hard part is to get it among an oversaturated market full of financial advisors, stockbrokers and financial planners. good luck!

First answer by ID1213920531. Last edit by ID1213920531. Question popularity: 27 [recommend question]