. The national average salary for a Financial Advisor is $56,538 in Canada. Advisors work with brokerage firms, banks, insurance companies, and wealth management firms. The average salary for a Financial Solutions Advisor is $65,546 per year in United States, which is 43% lower than the average Bank of America salary of $115,643 per year for this job. Bank of America and its affiliates recruit and hire qualified candidates without regard to race, religion, color, sexual orientation, gender, gender identity, age, national origin, ancestry, citizenship, protected veteran or disability, or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concepts of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. opt out of online behavioral advertising In terms of compensation, Ameriprise Financial Inc ranks top with an average of $61,277. Based on 1 salaries posted anonymously by Bank of America Financial Advisor Trainee employees in Lake Zurich. See if they're hiring! Your input helps Glassdoor refine our pay estimates over time. Make my favorite 23rd & Michigan. The average annual salary for investment advisors is $66,499. .css-jiegi{font-size:15px;line-height:24px;color:#505863;font-weight:700;}How accurate does $54,758 - $67,819 look to you? 2300 S Michigan Ave, Chicago, IL 60616. From that analysis, a CFP will present several solutions to enable the client to reach their goals. Financial Industry Regulatory Authority (FINRA) requires registered representatives to pass series 63 and series 7 exams. Relationship-based ads and online behavioral advertising help us do that. You can click the Return to Bank of America button now to return to the previous page or you can use the Back button on your browser after you leave. The total cash compensation, which includes bonus, and annual incentives, can vary anywhere from $67,507 to $84,718 with the average total cash compensation of $75,006. As a part of the Big Four, it services approximately 10.73% of all American bank deposits, in direct competition with Citigroup, Wells Fargo, and JPMorgan Chase. Career Employer is the ultimate resource to help you get started working the job of your dreams. Equal Housing Lender. An early career Financial Advisor with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $60,678 based on 9 salaries. However, Edward Jones is on top of the rest when it comes to administrating and compliance support, internal operational support, and work environment. The Bank of America also offers competitive benefits packages to its employees, which can further increase the overall compensation. These ads are based on your specific account relationships with us. and our 5.7k salaries reported, updated at January 9, 2023 Is this useful? That is typically focused on retirement planning, but financial advisors and planners can also help you work on other financial matters such as saving for education, estate planning, and life insurance. In such cases, there might be a conflict of interest. Advisors working independently or with a Registered Investment Advisor (RIA) firm can charge an hourly fee.An advisor may charge hourly when a client is seeking advice on a specific investment topic.They might also charge a flat fee for offering financial planning services. Based on 1 salaries posted anonymously by Bank of America Merrill Financial Solutions Advisor employees in Sarasota. There are also bonuses depending on their general performance. In addition, many investments advisors have additional certifications like Certified Financial Planner or Chartered Financial analyst. Average salary for Bank of America Financial Advisor in Lachute: $61,059. The annual basesalary ranges from $38,000 to $110,000. Just like any other profession, experience is vital when it comes to a financial advisors income. Relationship-based ads and online behavioral advertising help us do that. Why do people leave their jobs? Please note that the average salary in different cities fluctuates often. I have heard stories of some heavy-hitters in other offices managing $1 billion for a single client and a team of two Wealth Advisors that manage $10 billion between them. Financial Advisors made a median salary of $94,170 in 2021. This estimate is based upon 14 Bank of America Financial Advisor salary report (s) provided by employees or estimated based upon statistical methods. Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. Shaniko, OR. Talking to clients to understand their financial goals. 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. The salary starts at $57,413 per year and goes up to $257,167 per year for the highest level of seniority. Financial Advisor Average Financial Advisor Salary at Bank of America Corporation $61,042 / year Avg. While most client advisors salary revolves around the average, there are advisors earning way above it. If they do all of their business on a transactional model, ie, you pay a commission on something. and our A financial advisor earning power is limitless. To view Bank of Americas Drug-free workplace and alcohol policy, CLICK HERE. Average salary for Bank of America Financial Advisor Trainee in Cumming: USD 73,696. 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. Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. 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 . The average financial advisors salary varies depending on their designation. Bank of America Advanced Center. Entry-level planners earn an average of $50,892. Social media platforms like LinkedIn and Facebook are great for reaching out to high net worth prospects. The more experienced an advisor is, the higher their annual wage. In summary, financial advisor salary is not set in stone. A financial advisor helps you plan and execute a financial strategy for your long-term future. Financial advisors work primarily for financial institutions such as banks, mutual fund companies, and insurance companies. Bank of America Corp. (BOFA) employees with the job title Executive Director make the most with an. If professionally done, social media can be a powerful tool to draw in new clients. The estimated additional pay is $30,274 per year. becoming a Financial Advisor. Bank of America employees earn $45,000 annually on average, or $22 per hour, which is 38% lower than the national salary average of $66,000 per year. We cover topics from general career Information, career searching, career interviewing and becoming successful in your career of choice. Represents Bank of America Consumer households for entire 12-months under study who used the Saving and Budgeting Tool during March 2017. The salary trajectory of a Financial Advisor Development Program ranges between locations and employers. Beyond the overall income, advisors have several other benefits depending on the employer. Advisors with this job title specialize in stocks and securities. Online Privacy FAQs Finding your . . Online Privacy FAQs The total cash compensation, which includes bonus, and annual incentives, can vary anywhere from $67,507 to $84,718 with the average total cash compensation of $75,006. The estimated total pay for a Financial Solutions Advisor at Bank of America is $9,637 per month. Likewise, in their late years of career development, financial advisors make an average of $82,231 annually. Average salary for Bank of America Financial Advisor in Groton: US$68,322. showing results for all locations, Advisor Development Program Financial Solutions Advisor Trainee- Eastshore Financial Center - Berkeley, CA, Advisor Development Program Financial Solutions Advisor Trainee- Atascadero Financial Center- Atascadero, CA, Advisor Development Program - Financial Solutions Advisor - Speedway FC, Indianapolis, IN, Advisor Development Program - Financial Solutions Advisor - Ypsilanti FC, Ypsilanti, MI, Advisor Development Program Financial Solutions Advisor Trainee - South Texas Locations, Advisor Development Program Financial Solutions Advisor Trainee- Petaluma Financial Center - Petaluma, CA, Advisor Development Program Financial Solutions Advisor Trainee- Tracy Financial Center - Tracy, CA, Advisor Development Program Financial Solutions Advisor Trainee - Gulfgate Financial Center - Houston, TX, Advisor Development Program Financial Solutions Advisor Trainee- Placerville Financial Center - Placerville, CA, Advisor Development Program Financial Solutions Advisor Trainee - Lindsay & McKellips Financial Center - Mesa, AZ, Advisor Development Program Financial Solutions Advisor Trainee - East Bremerton Financial Center - Bremerton, WA, Financial Solutions Advisor - Participant Services, Advisor Development Program Financial Solutions Advisor Trainee- Oroville Financial Center - Oroville, CA, Advisor Development Program Financial Solutions Advisor Trainee - Jackson Financial Center - Jackson, CA, Advisor Development Program Financial Solutions Advisor Trainee- Fruitvale Financial Center - Oakland, CA, Advisor Development Program Financial Solutions Advisor Trainee- Anaheim Main Financial Center- Anaheim, CA. Based on 2 salaries posted anonymously by Bank of America Financial Advisor employees in Lachute. They also assess the clients income, investment, and debts. Salaries posted anonymously by Bank of America employees. Suppose an advisor is managing assets worth $1,000,000 and charges 2% for AUM. Good investment options available for employees in various career points., Financial Advisor Trainee Salaries by Location. This estimate is based upon 2 Bank of America Financial Advisor salary report (s) provided by employees or estimated based upon statistical methods. Read on for an overview of how much an advisor makes by specializing. Through innovative business development and utilizing best-in-class technology to meet clients wherever they are, ADP is modernizing how advisors are developed. In the case where an advisor gets a higher commission for a particular product, they might recommend that product over another one simply because they stand to earn more. 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. Candidates must possess authorization to work in the United States, as it is not the practice of Bank of America to sponsor individuals for work visas. To effectively help clients, advisors interview clients to understand their financial situation. The estimated total pay for a Financial Solutions Advisor at Bank of America is $115,643 per year. 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. ATM. ", "I love the ability to experience multiple lines of business, and I am learning how to serve my clients. Makes by specializing us $ 68,322 advisors make an average of $ 61,277 Trainee salaries Location! 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