Financial Planning has conducted its annual review of base pay for advisors at both wirehouses and regional or national broker-dealers, focusing on those generating $1,000,000 annually. It is important to note that this analysis excludes certain firms' special pay policies, as these vary widely among advisors within each firm, making comparisons challenging. Individual compensation can fluctuate significantly based on business mix and specific firm policies.

For instance, advisor pay may be influenced by additional bonuses or impacted by penalties such as discount sharing, limitations on smaller clients, and ticket charges.

The results are the following:

Findings for UBS:
1. Base Pay: $436,100
2. Deferred Year-End Compensation: $53,900
3. Total Pay: $490,000

Findings for Wells Fargo:
1. Base Pay: $454,640
2. Deferred Year-End Compensation: $14,325
3. Total Pay: $468,965

Findings for Merrill Lynch:
1. Base Pay: $400,000
2. Deferred Year-End Compensation: $65,000
3. Total Pay: $465,000

Findings for Morgan Stanley:
1. Base Pay: $411,400
2. Deferred Year-End Compensation: $28,600
3. Total Pay: $440,000

Findings for Edward Jones:
1. Base Pay: $393,750
2. Deferred Year-End Compensation: $50,000
3. Total Pay: $505,000

Findings for RBC Wealth Management:
1. Base Pay: $460,000
2. Deferred Year-End Compensation: $41,800
3. Total Pay: $501,800

Findings for Raymond James:
1. Base Pay: $445,000
2. Deferred Year-End Compensation: $56,000

3. Total Pay: $501,000

Findings for Janney:
1. Base Pay: $445,000
2. Deferred Year-End Compensation: $40,000
3. Total Pay: $485,000

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.