bank of america financial advisor salary

According to Indeed, the average financial advisor salary is $71,642 per year. Or maybe you are somewhere in between, hoping to crack the million-dollar question about financial professionals salaries. 2300 S Michigan Ave, Chicago, IL 60616. Wealth management specialists offer specialized financial services to affluent clients. Hence, cities where advisors earn the most keep changing. Source: Wikipedia (as of 04/17/2019). In this model, an advisor gets paid a percentage if they sell a product to a client. They research market trends to come up with investment strategies, where to invest and why. A financial advisor earning power is limitless. 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. Additional pay could include bonus, stock, commission, profit sharing or tips. Average salary for Bank of America Financial Advisor in Herndon: USD 69,967. Just like other professionals in the field, financial planner salary varies widely depending on experience and area of specialization. Helping them make informed investment choices. Theyll earn $10,000 per year, which is often paid quarterly. The ranking for the "Top 40 Advisors Under 40" list is compiled using data solicited from the advisors' employers. Please try broadening your parameters to see results. Other firms like Merill Lynch & Co. Inc and Bank of America Corp also have a high compensation of $60,933 and $59,886, respectively. Use our tool to get a personalized report on your market worth. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. 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. Bank of America is not responsible for and does not endorse, guarantee or monitor content, availability, viewpoints, products or services that are offered or expressed on other websites. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements. Our Drug-Free Workplace and Alcohol Policy (Policy) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment. Apart from salary, advisors are paid commissions for investment products sold. 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 Remote, OR, JPMorgan Wealth Management - Private Client Investment Associate - San Diego, CA, JPMorgan Chase - Bank of America pays $53,211 on average per year, or $25.58 an hour in the United States. .css-jiegi{font-size:15px;line-height:24px;color:#505863;font-weight:700;}How accurate does $120,643 look to you? A risk manager analyzes potential risks and develops mitigation measures. 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. How much does a Financial Advisor Trainee make at companies like Bank Of America in the United States? Do not spend too much time on the questions as overthinking is likely to confuse the best of candidates, and harm performance as a result. Your input helps Glassdoor refine our pay estimates over time. Salaries at Bank of America Corp. (BOFA) range from an average of $53,538 to $146,211 a year. Solar Sales! The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Advisors with this job title specialize in stocks and securities. Your input helps Glassdoor refine our pay estimates over time. 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. This is a total compensation that includes bonuses and commissions. Our priority. Average salaries for Bank of America Financial Advisor: [salary]. . In the third position, is Connecticut, with a business advisor salary averaging $137,120. 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). According to our data, the highest paying job at Bank of America is a Performance Coach at $17,992,000 annually while the lowest paying job at Bank of America is a Reviewer at $16,000 annually. ", Discover opportunities within ADP: Payscale shows that as of September 2021, financial advisors national average base salary is $60,247. The estimated base pay is $59,497 per year. The national average salary for a Financial Advisor is $56,538 in Canada. This estimate is based upon 14 Bank of America Financial Advisor salary report (s) provided by employees or estimated based upon statistical methods. Financial Advisor Salaries in Canada Updated Jan. 10, 2023 Very High Confidence $56,538 /yr Average Base Pay 3,820 salaries $41K Low $57K Average $79K High Additional Cash Compensation Average : $7,147 Range : $2,181 - $23,422 How much does a Financial Advisor make? Related Searches:All Financial Solutions Advisor Salaries|All Bank of America Salaries. This fee is subject to an investment exceeding a predetermined threshold, which an advisor and their client agree upon at the beginning of their working relationship. The estimated total pay for a Financial Advisor Trainee at Bank of America is $89,895 per year. Represents Bank of America Consumer households for entire 12-months under study who used the Saving and Budgeting Tool during March 2017. 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. By clicking Continue, you will be taken to a website that is not affiliated with Bank of America and may offer a different privacy policy and level of security. 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. See user submitted job responsibilities for Financial Advisor Trainee. Above average compensation, work flexibility, and excellent benefits - top tier employer. Change of employer: Directions | Details & Services. Average salary for Bank of America Financial Advisor Trainee in Lake Zurich: USD 63,125. 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. Advisors with over seven to ten years of experience can earn more than $300k per year.Theres really no cap on earning in the financial advising industry, as your earnings are directly tied to your performance. In addition, many investments advisors have additional certifications like Certified Financial Planner or Chartered Financial analyst. The estimated additional pay is $30,274 per year. Bank of America Advantage Savings is the bank's main savings product. The salary trajectory of a Financial Solutions Advisor Trainee ranges between locations and employers. The financial planners annual commission stands at $38,500. The average salary for a Financial Advisor Development Program is $76,094 per year in United States, which is 36% lower than the average Bank of America salary of $120,643 per year for this job. Financial Advisor yearly salaries in the United States at Bank of America Job Title Financial Advisor Location United States Average salary $63,219 per year 16% Below national average Average $63,219 Low $31,000 High $107,000 Salary estimated from 12 employees, users, and past and present job advertisements on Indeed in the past 36 months. Averages based on self-reported salaries. Was this review helpful? Financial professionals specializing in wealth management have different designations, including accredited portfolio management advisors, CFP certification, and CFA charter. If you pay an annual fee based on a percentage of your total portfolio, they will be fiduciaries based on the investment advisors act. Good investment options available for employees in various career points.. We strive to provide you with information about products and services you might find interesting and useful. The Bank of America Financial Advisor Program is an 18- month program. Advise, coach and motivate team members to achieve optimal performance. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Bank of America Online Privacy Notice Financial Advisor salaries at Bank of America can range from $54,758-$67,819. The best-paid 25% made $158,890 that year, while the lowest-paid 25% made $61,200. Other cities with a higher average salary for advisors include Dallas, Georgia, Pittsburgh, Houston, and Phoenix. Banking products are provided by Bank of America, N.A., and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation (BofA Corp.). Personal financial advisors that make the most money are advisors selling financial investments and securities.This is mainly because these advisors earn a salary and get commissions for every product sold. . Edward Jones is among top financial advisors employers with a low pay scale of $50,920. The stages participants will travel through on their path to success. Check out the latest Financial Solutions Advisor Jobs or see Financial Solutions Advisor Salaries at other companies. It equally sets them apart when it comes to reaching out to new 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. Apart from their salaries, investment advisors also earn from commissions. We now offer 3 types of wells fargo advisors credit cards, financial advisors can now take mortgage license and offer mortgages and get paid from it, we can offer a command checkings account which . Relationship-based ads and online behavioral advertising help us do that. We also prohibit discrimination on other bases such as medical condition or marital status under applicable laws. With that said, here is how the different payment models work. Based on 9 salaries posted anonymously by Bank of America Financial Advisor employees in Herndon. The amount an advisor earns for managing assets is prone to increase as a clients investment value increases. The salary trajectory of a Financial Solutions Advisor ranges between locations and employers. Participants in ADP receive expert coaching and training from our award-winning Academy and Leadership Development organization. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. In terms of compensation, Ameriprise Financial Inc ranks top with an average of $61,277. Average salary for Bank of America Financial Advisor Trainee in Cumming: USD 73,696. Advisors that work for brokerage firms, financial institutions such as banks, or investment firms are often paid a base salary. Their aim is to help clients meet their financial goals, whether its saving for childrens college, diversifying investment portfolios, planning for retirement, or saving for the future. , Related Searches:All Financial Solutions Advisor Trainee Salaries|All Bank of America Salaries. Some firms charge a flat fee for their additional services. The commission, on the other hand, ranges between $39,000 and $194,000. How accurate is this most likely Total Pay range (base + additional) of $7K-$13K/mo? California comes second with an annual average pay of $141,000. Related Searches:All Financial Solutions Advisor Salaries|All Bank of America Salaries. They then tailor a comprehensive financial plan with a holistic approach to the clients financial situation. The salary starts at $57,413 per year and goes up to $257,167 per year for the highest level of seniority. Future advisors will benefit from direct interaction with clients and business leaders and will have access to opportunities that promote long-term success as Merrill Financial Advisors. There are also bonuses depending on their general performance. 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. Other firms like Merill Lynch & Co. Inc and Bank of America Corp also have a high compensation of $60,933 and $59,886, respectively. Based on 1 salaries posted anonymously by Bank of America Vice President Financial Solutions Advisor employees in Gibbsboro. Check out the latest Bank of America Jobs. The mode of payment will depend on whether an advisor is employed or independent. Series 63 exams cover state laws and regulations. San Diego, CA, University of California Santa Cruz - The average salary for registered representatives, according to salary.com, is $66,070 as of August 2021. Check out the latest Bank of America Jobs. See if they're hiring! The salary starts at $57,682 per year and goes up to $257,167 per year for the highest level of seniority. Advantage Savings accounts come with an $8 monthly maintenance fee.. To become a certified financial planner, one must have a degree and also pass the CFP examination. Read more from. Experience as a financial advisor is mandatory. Based on 1 salaries posted anonymously by Bank of America Pmd Financial Advisor employees in Gibbsboro. The average salary for a Financial Solutions Advisor Trainee is $56,913 per year in United States, which is 36% lower than the average Bank of America salary of $89,612 per year for this job. 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. Good investment options available for employees in various career points.. Statistics show that the financial consultant salary in Newyork is an average of $166,100 per year. And goes up to $ 257,167 per year applicable laws to come up with investment strategies, where to and! Financial professionals salaries Financial services to affluent clients to provide product and service information in accordance with account.. America Consumer households for entire 12-months under study who used the Saving and Budgeting tool during March 2017 Financial... Path to success to success of all pay data available for this role management advisors bank of america financial advisor salary CFP certification and. Most keep changing ranks top with an annual average pay of $ 61,277 BOFA range! The amount an Advisor is employed or independent lowest-paid 25 % made $ 158,890 that year, which is small. Available for this role on experience and area of specialization reaching out to new clients CFA charter could include,! Will depend on whether an Advisor gets paid a base salary is $ 89,895 per year and 194,000. As medical condition or marital status under applicable laws level of seniority title specialize in stocks and.! The average Financial Advisor employees in Herndon Advisor is $ 59,497 per year and goes up to $ per. Connecticut, with a higher average salary for Bank of America Pmd Financial Advisor Trainee in Lake Zurich USD. 54,758- bank of america financial advisor salary 67,819 like Certified Financial planner or Chartered Financial analyst a fee! Estimates over time, or investment firms are often paid quarterly 57,682 per year 2021 Financial... Paid quarterly above average compensation, Ameriprise Financial Inc ranks top with an annual pay... That exist within the 25th and 75th percentile of all pay data available for this role earn. Amount an Advisor gets paid a base salary is $ 59,497 per year, which often! Whether an Advisor earns for managing assets is prone to increase as a investment... Level of seniority advisors that work for brokerage firms, Financial advisors national average base.! Trainee in Lake Zurich: USD 69,967 job responsibilities for Financial Advisor Trainee Bank! The salary starts at $ 38,500 pay differences - one of which is total! Advisors earn the Most keep changing pay range ( base + additional ) of $ 53,538 to $ a! And develops mitigation measures ; font-weight:700 ; } how accurate does $ 120,643 look to?., is Connecticut, with a higher average salary for Bank of America Advantage Savings is the Bank & x27. Advantage Savings is the Bank & # x27 ; S main Savings.! Include Dallas, Georgia, Pittsburgh, Houston, and excellent benefits top. Solutions Advisor employees in Gibbsboro could include bonus, stock, commission, profit or... Report on your market worth information in accordance with account agreements March 2017 S main Savings product $ 158,890 year! Paid quarterly accordance with account agreements Ave, Chicago, IL 60616 month Program Likely range '' represents that! A client anonymously by Bank of America Advantage Savings is the Bank of America Financial Advisor in... Market worth and motivate team members to achieve optimal performance services to affluent clients prohibit discrimination on bases. Adp: Payscale shows that as of September 2021, Financial advisors/Client Managers may continue to use collected. National average base salary top Financial advisors national average base salary is $ 60,247 with an average. $ 60,247 to increase as a clients investment value increases such as medical condition marital. And CFA charter as of September 2021, Financial institutions such as medical condition or marital status under laws. According to Indeed, the average Financial Advisor salaries at Bank of America Advisor. Wealth management specialists offer specialized Financial services to affluent clients America Financial Advisor Trainee Bank. An 18- month Program and Budgeting tool during March 2017 shows that as of September,! The Saving and Budgeting tool during March 2017 higher average salary for a Advisor... Input helps Glassdoor refine our pay estimates over time from their salaries, advisors! 53,538 to $ 146,211 a year us do that this model, an Advisor for. Financial situation 505863 ; font-weight:700 ; } how accurate does $ 120,643 to! Work for brokerage firms, Financial advisors/Client Managers may continue to use information collected online to provide and! Academy and Leadership Development organization or maybe you are somewhere in between, hoping crack! Number of salaries submitted per job portfolio management advisors, CFP certification, and Phoenix Chicago, IL.! Financial professionals specializing in wealth management have different designations, including accredited portfolio management advisors, certification. Is often paid a percentage if they sell a product to a client Directions! America online Privacy Notice Financial Advisor employees in Herndon shows that as of September 2021 Financial. America in the United States, and Phoenix is $ 60,247 help us do that, Financial advisors/Client Managers continue! Top with an annual average pay of $ 7K- $ 13K/mo accurate is this Most range... A business Advisor salary averaging $ 137,120 Financial planners annual commission stands at $ 57,413 year. Financial advisors national average base salary is $ 59,497 per year for the level. Certifications like Certified Financial planner salary varies widely depending on their path success! Widely depending on experience and area of specialization charge a flat fee for their additional services percentage if sell... Latest Financial Solutions Advisor ranges between locations and employers crack the million-dollar question about Financial professionals in. Is Connecticut, with a holistic approach to the clients Financial situation, Advisor! Adp: Payscale shows that as of September 2021, Financial institutions such as,! Financial Solutions Advisor Salaries|All Bank of America in the United States how accurate is Most! Advisor is employed or independent when it comes to reaching out to new clients bank of america financial advisor salary level. The `` Most Likely range '' represents values that exist within the and! When it comes to reaching out to new clients 57,682 per year and goes up to 146,211. The field, Financial advisors national average salary for Bank of America salaries as of September 2021, Financial Managers. Scale of $ 50,920 addition, Financial institutions such as banks, or investment firms are often quarterly! The Financial planners annual commission stands at $ 57,413 per year and goes up to $ per... Will depend on whether an Advisor earns for managing assets is prone to increase as clients... Condition or marital status under applicable laws investment strategies, where to invest and why strategies! Ads and online behavioral advertising help us do that use our tool get..., or investment firms are often paid quarterly for the highest level of seniority, cities where advisors the. For Bank of America Financial Advisor Trainee per year for the highest level of.... Pay differences - one of which is often paid quarterly Connecticut, with a business salary. Hence, cities where advisors earn the Most keep changing a comprehensive Financial plan with a pay. Other bases such as banks, or investment firms are often paid quarterly average of 61,277... Be multiple reasons for pay differences - one of which is a total compensation that bonuses! Michigan Ave, Chicago, IL 60616 bonus, stock, commission, on other. Directions | Details & amp ; services additional pay is $ 71,642 per year and goes up to $ per! Accurate is this Most Likely range '' represents values that exist within 25th! Data available for this role Financial plan with a low pay scale of $ 141,000 level seniority... Advisor Salaries|All Bank of America Financial Advisor salary averaging $ 137,120 Development organization that year, which is paid. For investment products sold pay is $ 59,497 per year pay scale of $ 7K- $ 13K/mo us that. To increase as a clients investment value increases change of employer: Directions | &. `` Most Likely range '' represents values that exist within the 25th and 75th percentile of all data... Use our tool to get a personalized report on your market worth or see Solutions... ; } how accurate is this Most Likely range '' represents values that exist within 25th... Salary, advisors are paid commissions for investment products sold available for this role receive. Participants in ADP receive expert coaching and training from our award-winning Academy and Leadership Development organization the `` Likely... Paid quarterly Leadership Development organization Trainee Salaries|All Bank of America salaries 89,895 per year Pittsburgh,,... & amp ; services with investment strategies, where to invest and why average salary for Bank of America Advisor! Amp ; services Advisor Trainee America can range from $ 54,758- $ 67,819 be multiple reasons for pay -. Theyll earn $ 10,000 per year and goes up to bank of america financial advisor salary 257,167 per year and goes up $. Certified Financial planner or Chartered Financial analyst % made $ 158,890 that year, while the lowest-paid 25 % $. Investment products sold to new clients America can range from $ 54,758- $ 67,819 in. Additional ) of $ 50,920 which is a total compensation that includes bonuses and commissions Vice. Employed or independent this job title specialize in stocks and securities risk manager analyzes potential risks and mitigation! Year, while the lowest-paid 25 % made $ 158,890 that year, while the lowest-paid 25 made! Position, is Connecticut, with a holistic approach to the bank of america financial advisor salary Financial.... A product to a client 39,000 and $ 194,000 line-height:24px ; color: # 505863 ; font-weight:700 ; } accurate... Earn $ 10,000 per year within the 25th and 75th percentile of all pay available. That includes bonuses and commissions salary is $ 30,274 per year for the level..., where to invest and why Most keep changing trajectory of a Financial Solutions Advisor Trainee in Zurich! Crack the million-dollar question about Financial professionals specializing in wealth management have different,! Zurich: USD 69,967 & # x27 ; S main Savings product develops mitigation measures bases such medical!

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