FinancialPlanning.com has released the third part of its annual analysis of base pay for advisors with payout rates of $1,000,000 in production for 2023. This year's analysis included data from Arizent and was conducted by compensation consultant Andy Tasnady.
Wirehouses
1. UBS
- Base Pay: $416,500
- Deferred-YE: $73,500
- Total Pay: $490,000
2. Wells Fargo
- Base Pay: $454,640
- Deferred-YE: $14,325
- Total Pay: $468,965
3. Merrill Lynch
- Base Pay: $400,000
- Deferred-YE: $65,000
- Total Pay: $465,000
4. Morgan Stanley
- Base Pay: $411,625
- Deferred-YE: $33,375
- Total Pay: $445,000
Regional/National
1. Edward Jones
- Base Pay: $393,750
- Deferred-YE: $155,700
- Total Pay: $549,450
**Edward Jones does not have a deferred year-end number. Instead, it uses an average office profit bonus.
2. Stifel
- Base Pay: $464,000
- Deferred-YE: $50,000
- Total Pay: $514,000
3. Janney Montgomery Scott
- Base Pay: $445,000
- Deferred-YE: $60,000
- Total Pay: $505,000
4. RBC Wealth Management
- Base Pay: $460,000
- Deferred-YE: $41,800
- Total Pay: $501,800
5. Raymond James & Associates
- Base Pay: $445,000
- Deferred-YE: $56,000
- Total Pay: $501,000
Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.
