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:
- Merrill
Cash Grid: $234,000
Deferred: $24,000
Total: $258,000
- Wells Fargo
Cash Grid: $254,640
Deferred: $3,000
Total: $257,640
- Morgan Stanley
Cash Grid: $235,305
Deferred: $13,695
Total: $249,000
- UBS
Cash Grid: $234,000
Deferred: $0
Total: $234,000
Top national and regional broker-dealers:
- B. Riley
Cash Grid: $300,000
Deferred: $6,000
Total: $306,000
- Stifel
Cash Grid: $264,000
Deferred: $30,000
Total: $294,000
- Edward Jones
Cash Grid: $236,250
Average Office Profit: $57,480
Total: $293,730
- RBC Wealth Management
Cash Grid: $264,000
Deferred: $17,820
Total: $281,820
- Janney Montgomery Scott
Cash Grid: $264,000
Deferred: $0
Total: $264,000
- Raymond James & Associates
Cash Grid: $261,000
Deferred: $0
Total: $261,000
