To assist financial advisors with comparing the various brokerage compensation plans, Financial Planning provides its annual analysis of pay packages offered at wirehouses as well as regional and national broker-dealers. Data was provided by Arizent and analyzed by Tasnady & Associates. Assumption for basic pay include:
- 25% in individual stocks; 25% in individual bonds; 25% in mutual funds; 25% in fee-based (wrap accounts, managed accounts, etc.)
- Year-end basic bonuses are included in deferred totals
- Length of service is assumed to be 10 years
- No impacts from bonuses based on growth or asset-based bonuses
- Does not include voluntary deferral matches, 401(k) matches or profit-sharing contributions
Top wirehouses:
- Wells Fargo
Cash Grid: $954,640
Deferred: $84,700
Total: $1,039,340
- Merrill
Cash Grid: $855,000
Deferred: $161,250
Total: $1,016,250
- UBS
Cash Grid: $920,000
Deferred: $90,000
Total: $1,010,000
- Morgan Stanley
Cash Grid: $867,300
Deferred: $112,700
Total: $980,000
Top national and regional broker-dealers:
- Edward Jones
Cash Grid: $787,500
Deferred: $383,600
Total: $1,171,000
- Raymond James & Associates
Cash Grid: $900,000
Deferred: $185,000
Total: $1,085,000
- Janney Montgomery Scott
Cash Grid: $920,000
Average Office Profit: $160,000
Total: $1,080,000
- RBC Wealth Management
Cash Grid: $960,000
Deferred: $110,000
Total: $1,070,000
- Stifel
Cash Grid: $964,000
Deferred: $100,000
Total: $1,064,000
- B. Riley
Cash Grid: $1,000,000
Deferred: $60,000
Total: $1,060,000
Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.
