. Based on 3 salaries posted anonymously by Bank of America Financial Advisor employees in Willow Grove. Our priority. Additional pay could include bonus, stock, commission, profit sharing or tips. No results match your criteria. Lastly, they inquire about the clients goal. Averages based on self-reported salaries. The estimated total pay for a Financial Solutions Advisor Trainee at Bank of America is $89,300 per year. Change of employer: This estimate is based upon 14 Bank of America Financial Advisor salary report (s) provided by employees or estimated based upon statistical methods. 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. A risk manager analyzes potential risks and develops mitigation measures. Please try broadening your parameters to see results. Financial Advisor salaries at Bank of America can range from $54,972-$67,635. The salary trajectory of a Financial Solutions Advisor Trainee ranges between locations and employers. Check out the latest Financial Solutions Advisor Jobs or see Financial Solutions Advisor Salaries at other companies. Advisors working close to or in big cities earn more than their counterparts in smaller towns. 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. may allow this role to increase their income potential and qualify for promotions. Median Annual Salary: $118,162 ($56.81/hour) Top 10% Annual Salary: $163,710 ($78.71/hour) Bank of America Financial Solutions Advisor Job Requirements Base Salary ( USD) 10% $57k MEDIAN $61k 90% $77k The average salary for a. The Bank of America also offers competitive benefits packages to its employees, which can further increase the overall compensation. This is a total compensation that includes bonuses and commissions. Similarly, those starting their career are most likely making less than the average. Advisors considered must be under 40 years old and work at an employee brokerage firm. This fee is subject to an investment exceeding a predetermined threshold, which an advisor and their client agree upon at the beginning of their working relationship. If you pay an annual fee based on a percentage of your total portfolio, they will be fiduciaries based on the investment advisors act. A strong referral base from across the business through our relationship with one in every two households. Good investment options available for employees in various career points., Financial Solutions Advisor Salaries by Location. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Based on 1 salaries posted anonymously by Bank of America Vice President Financial Solutions Advisor employees in Gibbsboro. 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. Their work revolves around managing clients portfolios. Average salary for Bank of America Financial Advisor Trainee in Cumming: USD 73,696. As we meet our clients where they are in their financial journeys, we likewise meet you where you are along the advisor career path continuum. The estimated base pay is $80,104 per year. Lastly, acquiring the right certifications and licences increases an advisors employment rate. Senior CFAs with over eight years of experience earn up to $122,660 or more. Bank of America Online Privacy Notice On the flip side, an entry-level advisor will most likely start at a lower scale as they learn the ropes. The estimated additional pay is $30,340 per year. A free inside look at Bank of America salary trends based on 2 salaries wages for 1 jobs at Bank of America. 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. Salary.com's CompAnalyst platform offers: These charts show the average base salary (core compensation), as well as the average total cash compensation for Financial Advisor Trainee in companies like Bank Of America in the United States. Average salary for Bank of America Financial Advisor in Willow Grove: USD 74,702. A financial advisor earning power is limitless. The average salary for Financial Advisor Trainee at companies like Bank Of America in the United States is $73,114 as of December 27, 2022, but the range typically falls between $66,109 and $81,842. TX. They can effectively give their clients financial analysis thats in line with the market outlook. Your input helps Glassdoor refine our pay estimates over time. It takes a $100 minimum deposit to open this account. Other firms like Merill Lynch & Co. Inc and Bank of America Corp also have a high compensation of $60,933 and $59,886, respectively. Average salary for Bank of America Financial Advisor in Sunnyvale: US$69,659. Series 7 exams are for beginners getting into the industry. They also get bonuses for bringing in new clients. 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. Investment advisors with between five to nine years experience earn an average income of $75,584. Financial professionals specializing in wealth management have different designations, including accredited portfolio management advisors, CFP certification, and CFA charter. According to our data, the highest paying job at Bank of America is a Performance Coach at $17,992,000 annually while the lowest paying job at Bank of America is a Reviewer at $16,000 annually. 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. Financial professionals interested in taking their careers to the next level take CFA certification. A Modern approach to 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. Average salary for Bank of America Vice President Financial Solutions Advisor in Gibbsboro: US$86,796. Client Relationship & Advisor; Customer Service; Investment & Trading. Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Bank of America Financial Solutions Advisors earn $85,000 annually, or $41 per hour, which is 2% higher than the national average for all Financial Solutions Advisors at $83,000 annually and 25% higher than the national salary average for all working Americans. Salary Expert indicates that the average income for CFA is $98,427. Bank of America is not responsible for and does not endorse, guarantee or monitor content, availability, viewpoints, products or services that are offered or expressed on other websites. Participants in ADP receive expert coaching and training from our award-winning Academy and Leadership Development organization. Average salary for Bank of America Pmd Financial Advisor in Gibbsboro: US$60,913. and our Help make it more accurate by adding yours. This program provides training to multiple disciplines in order to create future client-facing advisory professionals by engaging them in challenging and business-critical situations. Relationship-based ads and online behavioral advertising help us do that. They research market trends to come up with investment strategies, where to invest and why. 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. Hence, cities where advisors earn the most keep changing. I was hired and currently am a relationship manager (basically doing retail banking, opening accounts etc), I was offered a 55k salary for the relationship manager phase and a salary increase to 60k when i become a financial solutions advisor (stage 2), this was all included in the offer letter to which ive . How accurate does $54,758 - $67,819 look to you? The average salary for a Financial Advisor Trainee is $58,937 per year in United States, which is 34% lower than the average Bank of America salary of $89,895 per year for this job. Its also common to find investment advisors with a masters degree in a business-related course. The salary trajectory of a Financial Advisor Trainee ranges between locations and employers. Our local team of specialists is ready to help with advice and guidance, wherever you may be in your financial journey. Bank of America Private Client Advisors earn $161,000 annually, or $77 per hour, which is 90% higher than the national average for all Private Client Advisors at $61,000 annually and 84% higher than the national salary average for all working Americans. There are several designations for advisors with this qualification. Learn how this feature works. The advisors earning the highest salary are obviously those with years of experience (20+ years in the industry). The state and city an advisor live in equally affect their annual wage. Financial Advisors made a median salary of $94,170 in 2021. Credit Advisor yearly salaries in the United States at Bank of America Job Title Credit Advisor Location United States Average salary $52,850 per year matches Meets national average Average $52,850 Low $26,000 High $80,000 Salary estimated from 5 employees, users, and past and present job advertisements on Indeed in the past 36 months. Besides, an IAR is required to pass series 66 or series 65 exams. Bank of America employees in different jobs earn different salaries. Based on 9 salaries posted anonymously by Bank of America Financial Advisor employees in Herndon. The national average salary for a Financial Advisor is $56,538 in Canada. Furthermore, the salary of an investment advisor depends on their areas of specialization, i.e. 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. Additional pay could include bonus, stock, commission, profit sharing or tips. Copyright 20082023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. { "name": "Native_infosite_salary_detail_fluid_en-CA","id": "div-AdSlot-ld1vurb0", "fluid": true }, Cash Bonus, Stock Bonus, Profit Sharing, Commission Sharing, Tips have not been reported for this role. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review 110 N Wacker Dr, Chicago, IL 60606. Shaniko, OR. average salary for a Financial Advisor is $56,536 per year in Canada. Averages based on self-reported salaries. How accurate is this most likely Total Pay range (base + additional) of $7K-$13K/mo? Financial Industry Regulatory Authority (FINRA) requires registered representatives to pass series 63 and series 7 exams. 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. Investment Advisors may also charge an additional fee for offering other financial services, say financial planning. These ads are based on your specific account relationships with us. The salary trajectory of a Financial Solutions Advisor ranges between locations and employers. The estimated additional pay is $30,274 per year. Advise, coach and motivate team members to achieve optimal performance. However if they don't charge that way, then they cold still be fiduciaries but it is unlikely. Make my favorite Bank of America Tower Chicago. Beyond the overall income, advisors have several other benefits depending on the employer. Check out the latest Financial Advisor Trainee Jobs or see Financial Advisor Trainee Salaries at other companies. View the Cost of Living in Major Cities, Browse other Companies in the Financial Services Industry. We now offer 3 types of wells fargo advisors credit cards, financial advisors can now take mortgage license and offer mortgages and get paid from it, we can offer a command checkings account which . Financial Advisor Average Financial Advisor Salary at Bank of America Corporation $61,042 / year Avg. Average salary for Bank of America Financial Advisor Trainee in Groton: US$54,121. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements. Financial planners with over 20 years of experience get a total compensation of about $134k. Level of Education: Gaining advanced degrees See all Financial Advisor salaries to learn how this stacks up in the market. Bank of America and its affiliates recruit and hire qualified candidates without regard to race, religion, color, sexual orientation, gender, gender identity, age, national origin, ancestry, citizenship, protected veteran or disability, or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concepts of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The platform places the average commission of a financial advisor at $30,366. In the client fee method, youll find fee-only and fee-based advisors. In addition, many investments advisors have additional certifications like Certified Financial Planner or Chartered Financial analyst. Copyright 20082023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. { "name": "Native_infosite_salary_detail_fluid_en-US","id": "div-AdSlot-ld1vuj2b", "fluid": true }, average salary for a Financial Advisor Trainee is $58,937 per year in United States, salary trajectory of a Financial Advisor Trainee. 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 amount an advisor earns for managing assets is prone to increase as a clients investment value increases. Member FDIC. Analysis based on average balances for the 6 months prior to March 2017 ("pre" period) and the 6 months after March 2017 ("post" period). Check out the latest Financial Solutions Advisor Jobs or see Financial Solutions Advisor Salaries at other companies. Series 63 exams cover state laws and regulations. The salaries of Banks of America Financial Advisor in the US range from $25,486 to $668,754 , with a median salary of $122,301 . According to Indeed, the average financial advisor salary is $71,642 per year. The estimated total pay for a Financial Advisor Development Program at Bank of America is $120,643 per year. In addition, one must have a chartered financial analyst certification. Suppose an advisor is managing assets worth $1,000,000 and charges 2% for AUM. If an advisor is committed to learning and growing their career, they can increase their income several folds. We also prohibit discrimination on other bases such as medical condition or marital status under applicable laws. In this model, an advisor gets paid a percentage if they sell a product to a client. Bank of America Advanced Center. Financial Advisor salaries at Bank of America can range from $54,586-$67,114. Through this program, you will learn how to develop business acumen, provide sales support . Also, staying abreast with the stock market and any changes in the market gives a stockbroker an edge. Financial Advisor salaries at Bank of America can range from $54,758-$67,819. Average salary for Bank of America Financial Solutions Advisor Core Ii in San Luis: US$49,793. 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. At the same time, Payscales average yearly income for advisors stands at $60,247. Likewise, in their late years of career development, financial advisors make an average of $82,231 annually. 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. Finding your . 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. Advantage Savings accounts come with an $8 monthly maintenance fee.. Average salary for Bank of America Financial Advisor in Lachute: $61,059. Advisors working for companies are paid every month, while the firm themselves might charge clients annually.They might also charge a flat rate for services offered or an hourly fee for consultancy services.Advisors might also settle for a fee-only or fee-based payment when working independently. New research on who's asking for raises and who's getting them as well as advice on how to ensure you're getting the salary you deserve. The estimated base pay is $67,297 per year. The estimated total pay for a Financial Advisor Trainee at Bank of America is $89,623 per year. Overall, stockbrokers earn between $61,084 and 74,140 per year. Moreover, they get bonuses for hitting particular milestones. Wealth management specialists offer specialized financial services to affluent clients. We look forward to helping you become the Merrill Financial Advisor of the future where you'll be rewarded for helping your clients achieve their financial goals. Pay, Whether you are hiring a single employee , or an entire department of, The labor market is a strange place right now. Payscale shows that as of September 2021, financial advisors national average base salary is $60,247. Member FDIC. . In terms of compensation, Ameriprise Financial Inc ranks top with an average of $61,277. 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. Compensation data tools, salary structures, surveys and benchmarks. Depending on the firms size, the flat fees can range between $ 1,000 and $3,000. Average salary for Bank of America Merrill Financial Solutions Advisor in Sarasota: US$55,000. The average annual salary for investment advisors is $66,499. The stages participants will travel through on their path to success. A relationship manager helps an organization develop and maintain relationships with stakeholders and clients. Investment advisors work with investment companies, financial planning firms, or financial institutions. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role.