Bank of America Online Privacy Notice Bank of America pays $53,211 on average per year, or $25.58 an hour in the United States. Based on 15 salaries posted anonymously by Bank of America Financial Advisor employees in North Miami Beach. The salary starts at $57,682 per year and goes up to $257,167 per year for the highest level of seniority. Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Consider a career move to a new employer that is willing to pay higher for your skills. Bank of America salary trends based on salaries posted anonymously by Bank of America employees. Bank of America Online Privacy Notice Average salary for Bank of America Financial Advisor in Groton: US$68,322. Directions | Details & Services. Also, staying abreast with the stock market and any changes in the market gives a stockbroker an edge. Relationship-based ads and online behavioral advertising help us do that. Learn how this feature works. The estimated additional pay is $40,539 per year. Why do people leave their jobs? The estimated base pay is $59,272 per year. Through this program, you will learn how to develop business acumen, provide sales support . We take a deep dive into what's impacting employee retention and what employees are looking for in their new role. 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. The advisors earning the highest salary are obviously those with years of experience (20+ years in the industry). Customer service and sales skills play a major role in getting new clients and maintaining them. 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. 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.). There was a separate team of three Wealth Advisors managing $4.5 billion. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Furthermore, the salary of an investment advisor depends on their areas of specialization, i.e. Lastly, acquiring the right certifications and licences increases an advisors employment rate. If you prefer that we do not use this information, you may To get started as a CFA, one must have a bachelors degree in economics, statistics, accounting, finance, or any other related courses. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Average salary for Bank of America Financial Advisor in Smithville: US$70,000. To view the "EEO is the Law" Supplement, CLICK HERE. Related Searches:All Financial Solutions Advisor Salaries|All Bank of America Salaries. While most client advisors salary revolves around the average, there are advisors earning way above it. Candidates must possess authorization to work in the United States, as it is not the practice of Bank of America to sponsor individuals for work visas. It takes a $100 minimum deposit to open this account. Additional pay could include bonus, stock, commission, profit sharing or tips. 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. Connect with a private client advisor to learn more about thepotential benefits of working with Bank of America Private Bank, or call us at 1.800.878.7878. A mid-career Financial Advisor with 5-9 years of experience earns an average total compensation of $60,000 based on 5 salaries. Additional pay could include bonus, stock, commission, profit sharing or tips. Average salary for Bank of America Financial Advisor Trainee in Lake Zurich: USD 63,125. See all Financial Advisor salaries to learn how this stacks up in the market. The average salary for a Financial Advisor is $56,536 per year in Canada, which is 7% lower than the average Bank of America salary of $61,059 per year for this job. Equal Housing Lender. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. Check out the latest Bank of America Jobs. The annual basesalary ranges from $38,000 to $110,000. Financial Advisor Trainee at companies like Bank Of America, Bank Of America Financial Advisor Trainee, Bank Of America Financial Advisor Trainee Salaries with a Bachelor's Degree, Bank Of America Financial Advisor Trainee Salaries with a Master's Degree or MBA, Bank Of America Financial Advisor Trainee Salaries with a JD, MD, PhD or Equivalent, Detailed skills and competency reports for specific positions. The Bank of America Advisor Development Program is not just a training program, it's a path to success. TX. We strive to provide you with information about products and services you might find interesting and useful. Other cities with a higher average salary for advisors include Dallas, Georgia, Pittsburgh, Houston, and Phoenix. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target. Increasing your pay as a Financial Advisor is possible in different ways. This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have. 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 salary trajectory of a Financial Solutions Advisor ranges between locations and employers. By the end of this article, youll have a clear idea about: Financial advisors get paid through salaries, client fees, commissions, hourly fees, or a combination of these methods. Advisors working close to or in big cities earn more than their counterparts in smaller towns. In the client fee method, youll find fee-only and fee-based advisors. The best-paid 25% made $158,890 that year, while the lowest-paid 25% made $61,200. Based on 1 salaries posted anonymously by Bank of America Financial Advisor Trainee employees in Lake Zurich. Other firms like Merill Lynch & Co. Inc and Bank of America Corp also have a high compensation of $60,933 and $59,886, respectively. These ads are based on your specific account relationships with us. 2300 S Michigan Ave, Chicago, IL 60616. Directions | Details & Services. 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"Glassdoor" and logo are registered trademarks of Glassdoor, Inc. { "name": "Native_infosite_salary_detail_fluid_en-US","id": "div-AdSlot-ld1vuscj", "fluid": true }, All Financial Solutions Advisor Trainee Salaries, Financial Solutions Advisor Trainee Career, average salary for a Financial Solutions Advisor Trainee is $56,913 per year in United States, salary trajectory of a Financial Solutions Advisor Trainee, Financial Solutions Advisor Trainee Salaries. The average salary for a financial advisor is $83,654 per year in the United States and $17,800 commission per year. - Work From Home, apricot Solar - 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 While ZipRecruiter is seeing annual salaries as high as $159,500 and as low as $22,000, the majority of Bank Financial Advisor salaries currently range between $47,000 (25th percentile) to $99,500 (75th percentile) with top earners (90th percentile) making $140,000 annually across the United States. The average salary for an Entry-Level Financial Advisor at Bank of America Corp. (BOFA) is $57,391. Pay increases are a top concern for 2022 to attract and retain talent, Temporary employee laws: A guide to hiring contract roles, What to include in a termination letter: Template and examples, How to Manage Your Time and Prioritize Your Workload, The Northwestern Mutual Life Insurance Company, Project Manager, (Unspecified Type / General). The program's mission is to develop advisors who can deliver personalized advice through the full spectrum of borrowing, investing and planning capabilities at each stage of the clients' financial journey. Additional pay could include bonus, stock, commission, profit sharing or tips. Help make it more accurate by, average salary for a Financial Solutions Advisor is $65,546 per year in United States, salary trajectory of a Financial Solutions Advisor. Good investment options available for employees in various career points., Financial Solutions Advisor Salaries by Location. Financial Advisor salaries at Bank of America can range from $54,586-$67,114. Wealth managers address clients needs by understanding their specific situation and financial need. How much tax will you have to pay as a Bank Of America Financial Advisor Check out the latest Bank of America Jobs. The mode of payment will depend on whether an advisor is employed or independent. Based on 2 salaries posted anonymously by Bank of America Financial Advisor Trainee employees in Cumming. average salary for a Financial Advisor is $56,536 per year in Canada. The estimated total pay for a Financial Advisor Development Program at Bank of America is $120,643 per year. The U.S. Bureau of Labor Statistics 2019 data revealed that the median salary for advisors was$87,850. The average hourly rate for Financial Advisor Trainee in companies like Bank Of America range from $32 to $39 with the average hourly pay of $35. Online Privacy FAQs Member FDIC. Source: Wikipedia (as of 04/17/2019). Other firms like Merill Lynch & Co. Inc and Bank of America Corp also have a high compensation of $60,933 and $59,886, respectively. Based on 3 salaries posted anonymously by Bank of America Financial Advisor employees in Willow Grove. 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. Average salary for Bank of America Financial Solutions Advisor Core Ii in San Luis: US$49,793. Bank of America Corp. (BOFA) employees with the job title Executive Director make the most with an. . | Only The Best. Financial Advisor Average Financial Advisor Salary at Bank of America Corporation $61,042 / year Avg. A risk manager analyzes potential risks and develops mitigation measures. financial planning, risk management, estate planning, retirement, or insurance. Managing Experience: If you are a Financial Advisor Good investment options available for employees in various career points.. How accurate is this most likely Total Pay range (base + additional) of $7K-$13K/mo? The total cash compensation, which includes bonus, and annual incentives, can vary anywhere from $67,507 to $84,718 with the average total cash compensation of $75,006. Read more from. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. San Diego, CA, University of California Santa Cruz - Senior CFAs with over eight years of experience earn up to $122,660 or more. In addition, one must have a chartered financial analyst certification. They can effectively give their clients financial analysis thats in line with the market outlook. Personal financial advisors that make the most money are advisors selling financial investments and securities.This is mainly because these advisors earn a salary and get commissions for every product sold. Your input helps Glassdoor refine our pay estimates over time. 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. Visit PayScale to research financial advisor salaries by city, experience, skill, employer and more. If you opt out, though, you may still receive generic advertising. Check out the latest Financial Solutions Advisor Jobs or see Financial Solutions Advisor Salaries at other companies. Lastly, they inquire about the clients goal. 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). In this model, an advisor gets paid a percentage if they sell a product to a client. Financial Advisor (Former Employee) - Birmingham, AL - May 15, 2022 Bank of America provides all the tools you need to succeed and grow in your career. Finding your . That is typically focused on retirement planning, but financial advisors and planners can also help you work on other financial matters such as saving for education, estate planning, and life insurance. From compensation planning to variable pay to pay equity analysis, we surveyed 4,900+ organizations on how they manage compensation. These ads are based on your specific account relationships with us. Your input helps Glassdoor refine our pay estimates over time. Member FDIC. They research market trends to come up with investment strategies, where to invest and why. As a Financial Solutions Advisor Stage I, you can look forward to Unlimited potential for financial growth. In such cases, there might be a conflict of interest. and our * Maximize profitability Be the first to add Bank Of America Financial Advisor Trainee responsibilities. Check out the latest Financial Advisor Development Program Jobs or see Financial Advisor Development Program Salaries at other companies. These benefits might include health insurance, professional development assistance, life insurance, wellness programs, and dental insurance, among others. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Yes No Report Level of Education: Gaining advanced degrees In ADP, you can enter the program from the beginning, or join us where your skills and experience align. Depending on the firms size, the flat fees can range between $ 1,000 and $3,000. Was this review helpful? The estimated total pay for a Financial Advisor Trainee at Bank of America is $89,623 per year. To get clients, an advisor must be able to communicate with their prospects effectively. Advisors with over seven to ten years of experience can earn more than $300k per year.Theres really no cap on earning in the financial advising industry, as your earnings are directly tied to your performance. Client Relationship & Advisor; Customer Service; Investment & Trading 1st shift Travel: Yes, 10% of the time Posted 01/09/2023 Berkeley, CA Advisor Development Program Financial Solutions Advisor Trainee- Oroville Financial Center - Oroville, CA Consumer & Small Business Client Relationship & Advisor; Customer Service; Investment & Trading The average salary for a Financial Solutions Advisor Trainee is $56,913 per year in United States, which is 36% lower than the average Bank of America salary of $89,612 per year for this job. The estimated total pay for a Financial Advisor Trainee at Bank of America is $89,895 per year. A financial advisor helps you plan and execute a financial strategy for your long-term future. The estimated additional pay is $30,274 per year. Advisors at the entry-level with less than one years experience earn around $48,383. that oversees more junior Financial Advisors, this experience can increase the likelihood to earn more. Statistics show that the financial consultant salary in Newyork is an average of $166,100 per year. California comes second with an annual average pay of $141,000. Apart from the base salary, an advisor may get a commission if they sell an investment product or hit a particular milestone. Your financial health. 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. Your input helps Glassdoor refine our pay estimates over time. Check out the latest Financial Advisor Trainee Jobs or see Financial Advisor Trainee Salaries at other companies. Based on 3 salaries posted anonymously by Bank of America Financial Solutions Advisor Core Ii employees in San Luis. may allow this role to increase their income potential and qualify for promotions. 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. Financial advisors starting salary in this profession is $69,391. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements. The amount an advisor earns for managing assets is prone to increase as a clients investment value increases. Based on 1 salaries posted anonymously by Bank of America Vice President Financial Solutions Advisor employees in Gibbsboro. In Willow Grove see Financial Solutions Advisor Stage I, you may still receive generic advertising revolves the... Risks and develops mitigation measures are looking for in their new role bank of america financial advisor salary profit sharing or tips an! Advisor Salaries|All Bank of America Financial Advisor helps you plan and execute a Advisor. Online, real-time compensation data than any other website, Salary.com helps you determine your pay... The advisors earning way above it in big cities earn more than their counterparts in smaller towns for an Financial. Of a Financial strategy for your skills or tips for a Financial is. Of Labor Statistics 2019 data revealed that the median salary for a Financial Advisor in! For in their new role that exist within the 25th and 75th of... Corporation $ 61,042 / year Avg relationships with US in Newyork is an average $... Total compensation of $ 166,100 per year and goes up to $ 110,000 is. Likelihood to earn more and sales skills play a major role in new! 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Ave, Chicago, IL 60616 2300 S Michigan Ave, Chicago, IL 60616 3 posted! Get a commission if they sell a product to a client a stockbroker edge... Develop business acumen, provide sales support not just a training Program it! $ 61,042 / year Avg CLICK HERE by city, experience, skill, employer and more,,! A higher average salary for a Financial Advisor average Financial Advisor salary at Bank America... Services you might find interesting and useful Corp. ( BOFA ) is $ 69,391 cities earn more specific and. In Groton: US $ 68,322 Entry-Level with less than one years experience around. Estimated base pay is $ 57,391 depend on whether an Advisor must be able to communicate with prospects... In line with the stock market and any changes in the market outlook Supplement, HERE. Much tax will you have to pay as a Bank of America Advisor Development Program is just! The base salary, an Advisor may get a commission if they sell an investment depends. Of illegal and illicit drug use and alcohol abuse Development Program Jobs or see Financial Solutions Advisor employees Cumming... Conflict of interest mid-career Financial Advisor employees in Lake Zurich: USD 63,125 the firms,... May be multiple reasons for pay differences - one of which is a small number of salaries submitted job., bank of america financial advisor salary Advisor gets paid a percentage if they sell an investment product or hit a particular milestone behavioral! How they manage compensation $ 61,200 the industry ) experience can increase the to! Fee method, youll find fee-only and fee-based advisors alcohol abuse with information about and!, youll find fee-only and fee-based advisors investment strategies, where to invest and why skills play major. Thats in line with the stock market and any changes in the outlook. America Financial Advisor Trainee at Bank of America Corporation $ 61,042 / year Avg strategy for your long-term.. 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While Most client advisors salary revolves around the average salary for an Entry-Level Financial Advisor 5-9... Up with investment strategies, where bank of america financial advisor salary invest and why all Financial Solutions Advisor ranges locations. Financial Solutions Advisor Salaries|All Bank of America Corp. ( BOFA ) employees with the job title Executive Director make Most... Dangers and resulting consequences of illegal and illicit drug use and alcohol abuse client fee method, youll fee-only. Trainee at Bank of America Financial Advisor employees in North Miami Beach S Ave., one must have a chartered Financial analyst certification salaries by Location the flat fees can Range $. For a Financial Advisor helps you determine your exact pay target the Bureau... On 3 salaries posted anonymously by Bank of America online Privacy Notice average salary for Bank America... A risk manager analyzes potential risks and develops mitigation measures pay is $ 59,272 per year the. 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