FinancialPlanning.com has released its annual analysis of base pay for advisors with payout rates of $400,000 in production for 2023. This year's analysis included data from Arizent and was conducted by compensation consultant Andy Tasnady.
Wirehouses
1. Merrill Lynch
- Base Pay: $148,000
- Deferred-YE: $14,000
- Total Pay: $162,000
2. Wells Fargo
- Base Pay: $154,640
- Deferred-YE: $0
- Total Pay: $154,640
3. Morgan Stanley
- Base Pay: $138,960
- Deferred-YE: $5,040
- Total Pay: $144,000
4. UBS
- Base Pay: $128,000
- Deferred-YE: $0
- Total Pay: $128,000
Regional/National
1. Stifel
- Base Pay: $164,000
- Deferred-YE: $20,000
- Total Pay: $184,000
2. Edward Jones
- Base Pay: $157,500
- Deferred-YE: $10,400
- Total Pay: $167,900
**Edward Jones does not have a deferred year-end number, instead, it uses an average office profit bonus.
3. Raymond James & Associates
- Base Pay: $166,000
- Deferred-YE: $0
- Total Pay: $166,000
4. RBC Wealth Management
- Base Pay: $156,000
- Deferred-YE: $0
- Total Pay: $156,000
5. Janney Montgomery Scott
- Base Pay: $100,000
- Deferred-YE: $0
- Total Pay: $100,000
Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.
