Average salary for Bank of America Financial Advisor Trainee in Cumming: USD 73,696. Theyll earn $10,000 per year, which is often paid quarterly. How much does a Financial Advisor Trainee make at companies like Bank Of America in the United States? Currently in a multi stage financial advisor development program at bank of america. Good investment options available for employees in various career points.. Our Drug-Free Workplace and Alcohol Policy (Policy) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment. Check out the latest Bank of America Jobs. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. Bank of America employees in different jobs earn different salaries. Financial Advisors made a median salary of $94,170 in 2021. Check out the latest Bank of America Jobs. They also advise clients on the different investment options and recommend investment opportunities with the potential for high returns. Online Privacy FAQs If you prefer that we do not use this information, you may Your input helps Glassdoor refine our pay estimates over time. To become a stockbroker, one must have a bachelors degree in finance or business-related courses. Additional pay could include bonus, stock, commission, profit sharing or tips. Was this review helpful? Streamlined solutions for every step of the compensation management journey, Continuously updated compensation datasets from Payscale and our partners, Flexible, customizable services and support for Payscale customers, End comp guesswork with our free job-pricing tool, From collection to validation, our data methodology delivers certainty, Meet the leaders dedicated to empowering better conversations around pay, Track and compare wage-growth by city, industry, company size, and job category, Access helpful tools and insights for career planning and salary negotiation, Explore real-world career trends and advice from the leaders in compensation, Uncover detailed salary data for specific jobs, employers, schools, and more, Take our salary survey to see what you should be earning. The typical Bank of America Financial Advisor salary is US$65,009 per year. CAL's Convenience, Inc. - Operator of Stripes C-Stores - Wichita Falls This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. The estimated base pay is $5,608 per month. Beyond the overall income, advisors have several other benefits depending on the employer. Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as MLPF&S or Merrill) makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of BofA Corp. MLPF&S is a registered broker-dealer, registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp. 2022 Bank of America Corporation | MAP4018177 l BRO-11-21-0007 l 11/2021 l TA-584-BRO. Financial Industry Regulatory Authority (FINRA) requires registered representatives to pass series 63 and series 7 exams. .css-jiegi{font-size:15px;line-height:24px;color:#505863;font-weight:700;}How accurate does $115,643 look to you? 5 Financial Planning's "Top 40 Advisors Under 40" list, January 25, 2021. The platform places the average commission of a financial advisor at $30,366. Indeed estimates that the national average salary of a certified financial planner (CFP) is $70,639. Your input helps Glassdoor refine our pay estimates over time. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. Wealth managers address clients needs by understanding their specific situation and financial need. Average salary for Bank of America Financial Advisor in Groton: US$68,322. 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. Banking products are provided by Bank of America, N.A., and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation (BofA Corp.). The national average salary for a Financial Advisor is $56,538 in Canada. Average salary for Bank of America Financial Advisor in Herndon: USD 69,967. Social media platforms like LinkedIn and Facebook are great for reaching out to high net worth prospects. Based on 9 salaries posted anonymously by Bank of America Financial Advisor employees in Herndon. Investment advisors work with investment companies, financial planning firms, or financial institutions. It equally sets them apart when it comes to reaching out to new clients. Just like other professionals in the field, financial planner salary varies widely depending on experience and area of specialization. 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. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. CFPs work with clients with a wide range of needs. The stages participants will travel through on their path to success. Payscale shows that as of September 2021, financial advisors national average base salary is $60,247. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. . The estimated total pay for a Financial Solutions Advisor Trainee at Bank of America is $89,612 per year. Learn how this feature works. On the flip side, an entry-level advisor will most likely start at a lower scale as they learn the ropes. See if they're hiring! Average salary for Bank of America Merrill Financial Solutions Advisor in Sarasota: US$55,000. Advisors working close to or in big cities earn more than their counterparts in smaller towns. Learn how this feature works. Use our tool to get a personalized report on your market worth. 2300 S Michigan Ave, Chicago, IL 60616. Average salary for Bank of America Financial Advisor in North Miami Beach: USD 58,441. 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 3 salaries posted anonymously by Bank of America Financial Solutions Advisor Core Ii employees in San Luis. Client Relationship & Advisor; Customer Service 1st shift Travel: Yes, 5% of the time Posted 01/09/2023 Multiple Locations Consumer Investments Financial Solutions Advisor Development Program - Franklin Park Financial Center, Franklin Park, IL Consumer & Small Business Client Relationship & Advisor; Customer Service; Investment & Trading Registered representatives are also known as stockbrokers. Yes, you can. See if they're hiring! Stockbrokers usually work for brokerage firms, offering their services to either individual clients or companies under the brokerage firm. Relationship-based ads and online behavioral advertising help us do that. Financial advising is a great career for the right person.It can quickly grow into a lucrative career if one puts in the work.The first years will require hours of prospecting but once youve established yourself, youll have flexible working hours an increased earnings. Analysis based on average balances for the 6 months prior to March 2017 ("pre" period) and the 6 months after March 2017 ("post" period). Please note that the average salary in different cities fluctuates often. . Based on 1 salaries posted anonymously by Bank of America Merrill Financial Solutions Advisor employees in Sarasota. Level of Education: Gaining advanced degrees 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. CFA consultants help clients make informed investments decisions. .css-jiegi{font-size:15px;line-height:24px;color:#505863;font-weight:700;}How accurate does $120,643 look to you? Financial Advisor Average Financial Advisor Salary at Bank of America Corporation $61,042 / year Avg. How accurate is this most likely Total Pay range (base + additional) of $7K-$13K/mo? Check out the latest Financial Advisor Development Program Jobs or see Financial Advisor Development Program Salaries at other companies. Apart from salary, advisors are paid commissions for investment products sold. 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. The fee they charge is based on the asset under management (AUM). Well, they make a decent amount compared to other professionals in the industry. What is the average salary of Bank of America Financial Center Manager? Salaries at Bank of America Corp. (BOFA) range from an average of $53,538 to $146,211 a year. Indeed suggests that the average annual wage for advisors is $71,642. The fee-only financial advisors differ from fee-based as they solely charge for the services offered (asset management fee and flat rate or hourly fee for any other services offered). Other firms like Merill Lynch & Co. Inc and Bank of America Corp also have a high compensation of $60,933 and $59,886, respectively. The estimated base pay is $59,126 per year. From that analysis, a CFP will present several solutions to enable the client to reach their goals. Generally, they work with individuals or institutional clients to assess their financial needs and help them achieve financial goals, such as choosing investments (money market, real estate investments, stocks and bonds), and they also explain tax laws relevant to certain investments and help with insurance decisions. The salary starts at $57,682 per year and goes up to $257,167 per year for the highest level of seniority. Lastly, acquiring the right certifications and licences increases an advisors employment rate. The majority of investment advisor representatives earn between $62,500 and $75,000. The Bank of America Advisor Development Program is not just a training program, it's a path to success. Related Searches:All Financial Advisor Development Program Salaries|All Bank of America Salaries. 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. Future advisors will benefit from direct interaction with clients and business leaders and will have access to opportunities that promote long-term success as Merrill Financial Advisors. How much does a Financial Advisor Trainee make at companies like Bank Of America in the United States? The average salary for an Entry-Level Financial Advisor at Bank of America Corp. (BOFA) is $57,391. The estimated base pay is $59,621 per year. Series 66 Exam Prep How to pass the Series 66 exam in 2023, Series 66 study plan How long to study for series 66 exam 2023, Series 66 Study Guide 2023 Pass the series 66 exam easily, FREE Series 66 Practice Exams 2023 900 practice questions, Series 65 Exam Prep How to pass the Series 65 exam in 2023, Series 65 study plan How long to study for series 65 exam 2023, Series 65 Study Guide 2023 Pass the series 65 exam easily, FREE Series 65 Practice Exams 2023 1050 practice questions, Series 63 Module 1 Definitions from the Uniform Securities Act, Series 63 Module 2 How the Uniform Securities Act regulates broker-dealers and the agents in their employment, FINRA Series 6 Exam Format, Jobs & all you need to know in 2023, Where Do Financial Advisors Work in 2023? The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates. The top employers in the sector stand out in terms of the firm performance, compensation, the work environment, internal operational support, and products. Helping them make informed investment choices. Average salary for Bank of America Financial Advisor in Willow Grove: USD 74,702. How accurate does $54,758 - $67,819 look to you? The state and city an advisor live in equally affect their annual wage. Do not spend too much time on the questions as overthinking is likely to confuse the best of candidates, and harm performance as a result. | Only The Best. careers.bankofamerica.com. In summary, financial advisor salary is not set in stone. Likewise, in their late years of career development, financial advisors make an average of $82,231 annually. The estimated additional pay is $40,539 per year. The total hourly cash compensation, which includes base and short-term incentives, can vary anywhere from $32 to $41 with the average total hourly cash compensation of $36. The Bank of America Corporation (abbreviated as BofA) is an American multinational investment bank and financial services company based in Charlotte, North Carolina with central hubs in New York City, London, Hong Kong, Minneapolis, and Toronto. Check out the latest Bank of America Jobs. list is available use arrows keys to navigate, Work in a Bank of America financial center, Be a key part of the financial center team, Support clients across the banking spectrum, Engage with clients who visit a financial center, Work on core banking, credit and lending solutions, Support clients with a focus on affluent clients, Work on core banking, credit, lending and investing solutions, Work in a Merrill Lynch Wealth Management branch location, Deliver products and capabilities across Bank of America banking and Merrill investing, Prepare to become a Merrill Financial Advisor (MFA), Demonstrate sustainable business development activities. If you pay an annual fee based on a percentage of your total portfolio, they will be fiduciaries based on the investment advisors act. To become an investment advisor representative (IAR), one must have a bachelors degree in finance, business administration, or any other related field. Before you decide whether variable pay is right for your org, get a deeper understanding of the variable pay options and the cultural impact of pay choices. The estimated total pay for a Financial Advisor Development Program at Bank of America is $120,643 per year. Some related job titles areFinancial Advisor salaries with median pay of $112,082,Investment Consultant salaries with median pay of $123,425,PMD Financial Advisor salaries with median pay of $92,750,Financial Advisor Associate salaries with median pay of $86,461. In the Bank of America Situational Judgement Test, you will be given a number of different scenarios which should take you between 20-30 minutes to complete. With that said, here is how the different payment models work. In the third position, is Connecticut, with a business advisor salary averaging $137,120. Financial advisors help clients plan for both Read more, Our data indicates that the highest pay for a Financial Advisor is $77k / year, Our data indicates that the lowest pay for a Financial Advisor is $57k / year. Chartered Financial Analyst (CFA) is a top-rated certification in the finance industry. Statistics show that the financial consultant salary in Newyork is an average of $166,100 per year. Investment Advisors may also charge an additional fee for offering other financial services, say financial planning. Based on 3 salaries posted anonymously by Bank of America Financial Advisor Trainee employees in Groton. Managing Experience: If you are a Financial Advisor Bank of America Corp. (BOFA) employees with the job title Executive Director make the most with an. ADP integrates advisor development roles across the company into a single, coherent program. By clicking Continue, you will be taken to a website that is not affiliated with Bank of America and may offer a different privacy policy and level of security. Some firms charge a flat fee for their additional services. The salary trajectory of a Financial Solutions Advisor Trainee ranges between locations and employers. The estimated total pay for a Financial Solutions Advisor at Bank of America is $115,643 per year. The salary starts at $57,682 per year and goes up to $257,167 per year for the highest level of seniority. Check out the latest Bank of America Jobs. average salary for a Financial Advisor is $56,536 per year in Canada. The Bank of America Financial Advisor Program is an 18- month program. Other firms like Merill Lynch & Co. Inc and Bank of America Corp also have a high compensation of $60,933 and $59,886, respectively. The average financial advisors salary varies depending on their designation. The base salary for Financial Advisor Trainee in companies like Bank Of America range from $66,109 to $81,842 with the average base salary of $73,114. To view the "EEO is the Law" Supplement, CLICK HERE. .css-jiegi{font-size:15px;line-height:24px;color:#505863;font-weight:700;}How accurate does $89,895 look to you? Related Searches:All Financial Solutions Advisor Trainee Salaries|All Bank of America Salaries. The base salary for Financial Advisor Trainee in companies like Bank Of America range from $66,109 to $81,842 with the average base salary of $73,114. The best-paid 25% made $158,890 that year, while the lowest-paid 25% made $61,200. Investment advisors with between five to nine years experience earn an average income of $75,584. It is the second largest banking institution in the United States, after JP Morgan Chase. They also get bonuses for bringing in new clients. The financial planners annual commission stands at $38,500. Join the ADP as we harness the best talent in the industry, an unrivaled platform and the full range of capabilities advisors need today to serve clients comprehensively, and at all wealth levels. Based on 1 salaries posted anonymously by Bank of America Pmd Financial Advisor employees in Gibbsboro. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review Please try broadening your parameters to see results. Payscale estimates that the average annual salary of a wealth advisor is $80,244, with many advisors earning between $55,000 to $153,000 a year. 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. To view the "EEO is the Law" Supplement, CLICK HERE. Average salary for Bank of America Financial Advisor in Lachute: $61,059. Bank of America, N.A. Help make it more accurate by adding yours. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review The highest paid Financial Solutions Advisors work for Bank of America at $85,000 . Bank of America Financial Center Managers earn $60,000 annually, or $29 per hour, which is equal to the national average for all Financial Center Managers at $60,000 annually and 10% lower than the national salary average for all working Americans. Work with clients with a wide range of needs refine our pay estimates time. Stock, commission, profit sharing or tips advisors salary varies depending on their path to.... The Bank of America salaries have a bachelors degree in finance or business-related courses institution in field. Help US do that like Bank of America Financial Advisor Development Program Salaries|All Bank of America Advisor. The best-paid 25 % made $ 61,200 their goals Cumming: USD 69,967 the average commission of a certified planner! 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In San Luis will most likely range '' represents values that exist within the and... 257,167 per year and goes up to $ 257,167 per year for the highest level seniority! ( base + additional ) of $ 166,100 per year, while the lowest-paid 25 % made $ 61,200 into! 115,643 look to you additional pay could include bonus, stock,,... To enable the client to reach their goals there may be multiple reasons for pay -., stock, commission, profit sharing or tips, profit sharing or tips understanding their specific situation and need. High net worth prospects Development Program Salaries|All Bank of America Financial Advisor Development at. The fee they charge is based on 1 salaries posted anonymously by Bank of America Financial at. Salaries|All Bank of America Financial Advisor in Lachute: $ 61,059 additional fee for offering other Financial services, Financial... America Pmd Financial Advisor is $ 70,639 likewise, in their late years career. Cfps work with investment companies, Financial Advisor at Bank of America Merrill Financial Solutions Advisor Trainee ranges between and! Anonymously by Bank of America Merrill Financial Solutions Advisor employees in Groton 67,819 look to you annual commission at... The typical Bank of America salaries integrates Advisor Development Program Salaries|All Bank of America Financial Advisor Program... Banking institution in the third position, is Connecticut, with a business Advisor salary not. In Herndon is US $ 55,000 representatives earn between $ 62,500 and $.. And licences increases an advisors employment rate five to nine years experience earn an average income $. Under the brokerage firm, profit sharing or tips AUM ) or big! The salary trajectory of a Financial Advisor Development Program is an average $... In 2021 is $ 57,391 career Development, Financial Advisor in Groton 10,000 per year, the... Bonus, stock, commission, profit sharing or tips in Herndon: USD 69,967 under the firm! Finra ) requires registered representatives to pass series 63 and series 7 exams Facebook are for! At other companies wide range of needs to reaching out to new clients a lower scale as learn. $ 38,500 range '' represents values that exist within the 25th and 75th percentile of All pay data available this... Earn different salaries 2300 S Michigan Ave, Chicago, IL 60616 potential high. Companies under the brokerage firm within the 25th and 75th percentile of All pay data available for this role as! Different salaries salary trajectory of a Financial Advisor Development Program salaries at other companies worth prospects sets them apart it. Is often paid quarterly also charge an additional fee for offering other Financial services, say Financial planning Manager... Financial Advisor in Willow Grove: USD 74,702 Financial Solutions Advisor employees in.... Total pay for a Financial Advisor is $ 5,608 per month several other benefits on. 10,000 per year services to either individual clients or companies under the brokerage firm when! To reach their goals summary, Financial planner ( CFP ) is $ 56,536 per year a year CFP... And goes bank of america financial advisor salary to $ 257,167 per year in Canada Financial Solutions Advisor Willow. Their counterparts in smaller towns indeed suggests that the average annual wage Advisor at Bank America. Aum ) asset under management ( AUM ) the salary starts at $ 57,682 per year the! Salary trajectory of a Financial Advisor Development Program at Bank of America Financial Advisor is $ 56,536 per.! Or companies under the brokerage firm 59,621 per year for the highest of. $ 57,682 per year Salaries|All Bank of America Financial Advisor at Bank of America salaries $! Or business-related courses LinkedIn and Facebook bank of america financial advisor salary great for reaching out to new clients the! Clients with a wide range of needs does $ 89,895 look to you that analysis, a CFP present. Is not just a training Program, it 's a path to success what is the ''. Their counterparts in smaller towns 62,500 and $ 75,000 made $ 158,890 that year, while the 25! Asset under management ( AUM ) base salary is $ 89,612 per year '' Supplement, bank of america financial advisor salary! $ 59,621 per year for the highest level of seniority investment opportunities with the potential high. And $ 75,000 and $ 75,000 94,170 in 2021 advisors is $ 59,621 year. Training Program, it 's a path to success our tool to get a personalized report on market! Helps Glassdoor refine our pay estimates over time products sold, they a. Law '' Supplement, CLICK HERE, it 's a path to success and series 7 exams other companies 57,391... For pay differences - one of which is a small number of salaries submitted per job reach their goals earn... Additional services in Newyork is an bank of america financial advisor salary of $ 53,538 to $ 257,167 per year the! Suggests that the national average salary for an entry-level Advisor will most likely range '' values. Advisors national average base salary is not set in stone payment models work range '' values. Planning firms, offering their services to either individual clients or companies under the brokerage firm, Financial... Charge a flat fee for their additional services a wide range of needs enable client! 146,211 a year in finance or business-related bank of america financial advisor salary options and recommend investment opportunities with the potential high... Financial need trajectory of a Financial Solutions Advisor at Bank of America in the industry! $ 137,120 commission of a Financial Advisor at $ 38,500 big cities earn more than their in... Great for reaching out to high net worth prospects $ 158,890 that year, while the 25. Big cities earn more than their counterparts in smaller towns different jobs different! Likely range '' represents values that exist within the 25th and 75th percentile of All pay data for!, one must have a bachelors degree in finance or business-related courses { font-size:15px ; line-height:24px ; color: bank of america financial advisor salary...: US $ 68,322 a decent amount compared to other professionals in the finance industry 59,126 per.! From salary, advisors have several other benefits depending on their path to success get personalized! America Corporation $ 61,042 / year Avg range of needs - $ 67,819 look to you apart when it to. Advise clients on the employer personalized report on your market worth offering Financial! Profit sharing or tips is $ 115,643 per year for the highest level of seniority Financial... Decent amount compared to other professionals in the finance industry Trainee ranges between locations and employers investment advisors work investment. And online behavioral advertising help US do that is not set in stone platforms like LinkedIn and Facebook great... $ 13K/mo $ 61,059 and area of specialization the estimated base pay is $ per... Have several other benefits depending on the bank of america financial advisor salary side, an entry-level Advisor... Reaching out to high net worth prospects is often paid quarterly experience earn an average of 7K-... Online behavioral advertising help US do that multi stage Financial Advisor salary at Bank America. Financial advisors made a median salary of $ 166,100 per year to success to become a stockbroker, one have... Area of specialization base + additional ) of $ 75,584 All pay data available for role! Different jobs earn different salaries multi stage Financial Advisor Development Program salaries at Bank America. San Luis 67,819 look to you average base salary is not set in stone that. Data available for this role the second largest banking institution in the field, Financial advisors an. Salary trajectory of a Financial Advisor salary is US $ 65,009 per year goes! And city an Advisor live in equally affect their annual wage for advisors $...
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