How much does a financial advisor trainee make at Bank of America?

How much does a financial advisor trainee make at Bank of America?

Bank of America Salary FAQs The average salary for a Financial Advisor Trainee is $54,380 per year in United States, which is 8% lower than the average Bank of America salary of $59,126 per year for this job.

What is the entry level salary for a financial advisor?

Entry Level Financial Planner Salary

Annual Salary Weekly Pay
Top Earners $85,500 $1,644
75th Percentile $71,000 $1,365
Average $55,473 $1,066
25th Percentile $40,000 $769

Do financial advisors get paid a base salary?

Many financial advisors get paid a base salary plus any performance-based bonuses they may have earned that year. However, it really depends on whether the financial advisor is employed by a large company or is a self-employed registered investment advisor (RIA).

Is becoming a financial advisor worth it?

Benefits of becoming an advisor include unlimited earning potential, a flexible work schedule, and the ability to tailor one’s practice. Among the drawbacks are high stress, the effort and time needed to build a client base, and the ongoing need to meet regulatory requirements.

What is the salary of a personal financial advisor?

The median annual wage for personal financial advisors was $89,330 in May 2020. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $44,100, and the highest 10 percent earned more than $208,000.

How do financial planners get paid?

There are three ways financial advisors get paid: Fee-only advisors charge an annual, hourly or flat fee. Commission-based advisors are paid through the investments they sell. Fee-based advisors earn a combination of a fee, plus commissions.

How do CFPs get paid?

Commission-only CFPs provide financial advice, of course, but they also try to sell financial products. That’s how they earn their pay — they get commissions when they sell you certain products. For instance, some CFPs charge small hourly fees — smaller than those of fee-only CFPs — and also earn commissions.

How much does a JP Morgan financial advisor make?

How much does a Financial Advisor make at JPMorgan Chase in the United States? Average JPMorgan Chase Financial Advisor yearly pay in the United States is approximately $36,786, which is 48% below the national average.