Qualifications and reputation matter
| Type | Also known as |
|---|---|
| Registered representatives | Stockbrokers Investment representatives Bank representatives Financial professionals/planners |
| Financial professionals/planners | Registered Investment Advisors (RIAs); Investment Advisor Representatives (IARs) |
If you're early in your career, you should probably have two major goals: Create a financial plan and start saving for retirement. A CFP can help with both goals. If you can't find a CFP, most financial advisor generalists will have expertise in basic financial and retirement planning.
Types of Financial Advisors
Per BLS, as of May 2017: The industry with the highest-paid personal financial advisors is the Securities, Commodity Contracts, and Other Financial Investments/Related Activities industry, with an annual mean wage of $133,910.
The Four Types of Financial Advisors. Ask a friend how much they pay their financial advisor.
6 Types of Financial Planners: Which One Is Right for You?
A financial planner is a professional who helps companies and individuals create a program to meet long-term financial goals. Financial advisor is a broader term for those who help manage your money including investments and other accounts.
The Four Types of Wealth
CFAs typically work more in the field of financial analytics and investing, while CFPs usually focus on financial planning with individual clients. Keep in mind that getting a CFA is also a longer process with more exams.
How They Ranked
| NUMBER OF ADVISORS | ||
|---|---|---|
| 1 | Bank of America Corp. | 18,688 |
| 2 | JPMorgan Chase & Co. | 2,504 |
| 3 | Wells Fargo & Co. | 15,000 |
| 4 | PNC Financial Services Group | 2,757 |
Top yearly base compensation at regional broker-dealers and wirehouses ranges from $140,000 for financial advisors at UBS whose 2017 production will be $400,000, to $1,105,000 for Raymond James & Associates financial advisors whose production this year hits $2 million, according to a new survey by the publication On ...
The average salary for a financial advisor in California is around $96,490 per year.
Financial Advisors made a median salary of $87,850 in 2019.
Yet No Comments