Best Advisor will pay producers $400,000 in 2023

Financial Advisors

Financial Planning continues its annual analysis of advisor base salaries by looking at pay rates for advisors with a production value of $400,000 in 2023.

Scroll down to see each company’s location.

If you would like to see last year’s data, please click here. Click here to see what industry experts expect in this year’s advisor compensation.

This is the first part of a four-part annual survey. Other production-level salary comparisons in the study include:

– pay producers $600,000

– Pay a $1 million producer

– pay the producer $2 million

The data was collected by Arizen and the analysis was done by compensation consultant Andy Tasnady and his firm. Tasnadi & Associates.

A note on this year’s analysis: Many special policies are not included because they do not affect 100% of the Advisor population evenly and are too variable to compare. Individual results may vary significantly depending on each company’s combination of business and policies. For example, special bonuses can increase salaries, while penalties such as shared discounts, small customer limits, and ticket fees can decrease salaries.

Base salary assumptions (before special policies/contingent bonuses apply):

  • 25% for individual stocks. 25% for personal bonds. 25% for mutual funds. 25% of commission base (wrap accounts, managed accounts, etc.)
  • The year-end basic bonus is shown as the total deferred amount.
  • The length of service is assumed to be 10 years.
  • Assume no impact from growth-based bonuses, asset-based bonuses, or other behavior-based rewards.
  • Voluntary postponed games, 401(k) games, or profit sharing donations are excluded unless otherwise stated.
  • Does not include: T&E expense allowances, discounted share or ticket fare expense assumptions, small household or small ticket policy assumptions, or amounts for optional benefits.

*All data provided by the companies represented, compiled and edited by Arigent with analysis by Tasnady & Associates. Edward Jones stats are average stats and individual his FA experience may vary.

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