FinancialPlanning.com continues its annual analysis of base pay for advisors with payout rates of $2,000,000 in production for 2023. This year's analysis included data from Arizent and was conducted by compensation consultant Andy Tasnady.
Wirehouses
1. Wells Fargo
- Base Pay: $954,640
- Deferred-YE: $78,825
- Total Pay: $1,033,465
2. UBS
- Base Pay: $867,000
- Deferred-YE: $153,000
- Total Pay: $1,020,000
3. Merrill Lynch
- Base Pay: $845,000
- Deferred-YE: $160,400
- Total Pay: $1,005,400
4. Morgan Stanley
- Base Pay: $867,300
- Deferred-YE: $112,700
- Total Pay: $980,000
Regional/National
Edward Jones
- Base Pay: $787,500
- Deferred-YE: $394,600
- Total Pay: $1,182,100
**Edward Jones does not have a deferred year-end number, instead, it uses an average office profit bonus.
2. Raymond James & Associates
- Base Pay: $900,000
- Deferred-YE: $215,000
- Total Pay: $1,115,000
3. Stifel
- Base Pay: $964,000
- Deferred-YE: $120,000
- Total Pay: $1,084,000
4. Janney Montgomery Scott
- Base Pay: $920,000
- Deferred-YE: $160,000
- Total Pay: $1,080,000
5. RBC Wealth Management
- Base Pay: $960,000
- Deferred-YE: $110,000
- Total Pay: $1,070,000
Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.
