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. 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. Salary Expert indicates that the average income for CFA is $98,427. 5.7k salaries reported, updated at January 9, 2023 Is this useful? Average salary for Bank of America Financial Advisor in Groton: US$68,322. Base Salary ( USD) 10% $57k MEDIAN $61k 90% $77k The average salary for a. 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. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. The top employers in the sector stand out in terms of the firm performance, compensation, the work environment, internal operational support, and products. Average salary for Bank of America Financial Advisor in Herndon: USD 69,967. See Financial Solutions Advisor Trainee Salaries at other companies. "This program enables people from a wide range of backgrounds and experience levels to become successful advisors. In engineering jobs, employees earn an average salary of $99,334. Average Financial Advisor Salary at Bank of America Corp. (BOFA) Pay Job Details Skills Job Listings Employers $60,563 / year Avg. There are several designations for advisors with this qualification. Copyright 20082023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. { "name": "Native_infosite_salary_detail_fluid_en-US","id": "div-AdSlot-ld1vues6", "fluid": true }, All Financial Advisor Development Program Salaries, Financial Advisor Development Program Career, average salary for a Financial Advisor Development Program is $76,094 per year in United States, salary trajectory of a Financial Advisor Development Program, Financial Advisor Development Program Jobs, Financial Advisor Development Program Salaries. Stockbrokers usually work for brokerage firms, offering their services to either individual clients or companies under the brokerage firm. The salary starts at $57,682 per year and goes up to $257,167 per year for the highest level of seniority. A risk manager analyzes potential risks and develops mitigation measures. It takes a $100 minimum deposit to open this account. Bank of America pays $53,211 on average per year, or $25.58 an hour in the United States. 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. Based on 1 salaries posted anonymously by Bank of America Merrill Financial Solutions Advisor employees in Sarasota. Level of Education: Gaining advanced degrees and our 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. 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. Client Relationship & Advisor; Customer Service; Investment & Trading. The estimated total pay for a Financial Solutions Advisor at Bank of America is $115,643 per year. Bank of America pays the lowest earners $26,000 a year, while the top 10 percent are paid over $107,000. They also get bonuses for bringing in new clients. Why do people leave their jobs? The estimated base pay is $67,297 per year. . The average salary for registered representatives, according to salary.com, is $66,070 as of August 2021. We take a deep dive into what's impacting employee retention and what employees are looking for in their new role. Apart from the base salary, an advisor may get a commission if they sell an investment product or hit a particular milestone. Related Searches:All Financial Solutions Advisor Salaries|All Bank of America Salaries. The amount an advisor earns for managing assets is prone to increase as a clients investment value increases. The estimated additional pay is $30,340 per year. Further, some advisors charge a performance fee. The fee they charge is based on the asset under management (AUM). Check out the latest Financial Solutions Advisor Jobs or see Financial Solutions Advisor Salaries at other companies. Advisors work with brokerage firms, banks, insurance companies, and wealth management firms. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review 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. While most client advisors salary revolves around the average, there are advisors earning way above it. This estimate is based upon 14 Bank of America Financial Advisor salary report (s) provided by employees or estimated based upon statistical methods. Average salary for Bank of America Financial Advisor Trainee in Groton: US$54,121. Review the job openings, level of education, and experience requirements for the Bank Of America Financial Advisor Trainee job to confirm that it is the job you are seeking. Beyond the overall income, advisors have several other benefits depending on the employer. Relationship-based ads and online behavioral advertising help us do that. 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 . Bank of America Corp. (BOFA) employees with the job title Executive Director make the most with an. The estimated base pay is $67,297 per year. 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. The salary trajectory of a Financial Solutions Advisor ranges between locations and employers. What is the average salary of Bank of America Financial Center Manager? CFA consultants help clients make informed investments decisions. Whatever side of the equation you are in, weve got you covered. TX. We strive to provide you with information about products and services you might find interesting and useful. Step-By-Step Pay Equity Analysis Guide Product Guide By clicking Download Product Guide, Do you know what your employees really want for the holidays? The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. 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. If you prefer that we do not use this information, you may Statistics show that the financial consultant salary in Newyork is an average of $166,100 per year. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target. This fee could be hourly, where an hourly rate can be anything from $100 to $300. Similar Job Titles: Average salary for Bank of America Financial Advisor Trainee in Cumming: USD 73,696. 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 There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. The estimated additional pay is $48,346 per year. Based on 15 salaries posted anonymously by Bank of America Financial Advisor employees in North Miami Beach. Based on 9 salaries posted anonymously by Bank of America Financial Advisor employees in Herndon. Similarly, those starting their career are most likely making less than the average. Personal financial advisors working for firms must understand their investment strategies and financial products to better guide clients on the best options depending on their individual needs. An advisor must study and prepare adequately to pass. Career Employer is the ultimate resource to help you get started working the job of your dreams. The annual basesalary ranges from $38,000 to $110,000. Additional pay could include bonus, stock, commission, profit sharing or tips. How accurate is this most likely Total Pay range (base + additional) of $7K-$13K/mo? 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. See all Financial Advisor salaries to learn how this stacks up in the market. 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. Check out the latest Bank of America Jobs. Advisors with this job title specialize in stocks and securities. Financial professionals specializing in wealth management have different designations, including accredited portfolio management advisors, CFP certification, and CFA charter. Financial planners with over 20 years of experience get a total compensation of about $134k. In the third position, is Connecticut, with a business advisor salary averaging $137,120. 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. Also, if you opt out of online behavioral advertising, you may still see ads when you sign in to your account, for example through Online Banking or MyMerrill. 2300 S Michigan Ave, Chicago, IL 60616. At the same time, Payscales average yearly income for advisors stands at $60,247. Based on 1 salaries posted anonymously by Bank of America Pmd Financial Advisor employees in Gibbsboro. 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. 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. 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. 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. Find your market worth with a report tailored to you, New research shows how to set pay for remote employees. Pay, Whether you are hiring a single employee , or an entire department of, The labor market is a strange place right now. The estimated base pay is $59,621 per year. The average annual salary for investment advisors is $66,499. It could be you are just starting out in the financial advice industry. Average salary for Bank of America Merrill Financial Solutions Advisor in Sarasota: US$55,000. .css-jiegi{font-size:15px;line-height:24px;color:#505863;font-weight:700;}How accurate does $89,612 look to you? New research shows that each woman experiences the disparity of gender pay gap in different ways, depending on her position, age, race and education. list is available use arrows keys to navigate, Because there were no locations matching your search, we're 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. Just like any other profession, experience is vital when it comes to a financial advisors income. 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. Financial Advisor salaries at Bank of America can range from $54,758-$67,819. Payscale shows that as of September 2021, financial advisors national average base salary is $60,247. Read more from. Member FDIC. 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. 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. Check out the latest Bank of America Jobs. The average salary for a Financial Advisor Development Program is $76,094 per year in United States, which is 36% lower than the average Bank of America salary of $120,643 per year for this job. Averages based on self-reported salaries. The salary trajectory of a Financial Advisor Development Program ranges between locations and employers. To view the "EEO is the Law" poster, CLICK HERE. Developing the next generation of Merrill advisors. Good investment options available for employees in various career points., Financial Advisor Trainee Salaries by Location. The estimated base pay is $5,608 per month. See if they're hiring! Some firms charge a flat fee for their additional services. These ads are based on your specific account relationships with us. Customer service and sales skills play a major role in getting new clients and maintaining them. 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. ", "I love the ability to experience multiple lines of business, and I am learning how to serve my clients. Salaries at Bank of America Corp. (BOFA) range from an average of $53,538 to $146,211 a year. 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. How accurate does $54,758 - $67,819 look to you? With that said, here is how the different payment models work. Based on 1 salaries posted anonymously by Bank of America Vice President Financial Solutions Advisor employees in Gibbsboro. However, Edward Jones is on top of the rest when it comes to administrating and compliance support, internal operational support, and work environment. It equally sets them apart when it comes to reaching out to new clients. Financial advisors work primarily for financial institutions such as banks, mutual fund companies, and insurance companies. Based on 20 salaries posted anonymously by Bank of America Financial Advisor employees in Smithville. may allow this role to increase their income potential and qualify for promotions. Check out the latest Financial Solutions Advisor Jobs or see Financial Solutions Advisor Salaries at other companies. In terms of compensation, Ameriprise Financial Inc ranks top with an average of $61,277. If you opt out, though, you may still receive generic advertising. Related Searches:All Financial Advisor Trainee Salaries|All Bank of America Salaries. opt out of online behavioral advertising There was a separate team of three Wealth Advisors managing $4.5 billion. Investment advisors work with investment companies, financial planning firms, or financial institutions. 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. To view the "EEO is the Law" Supplement, CLICK HERE. Check out the latest Bank of America Jobs. Overall, stockbrokers earn between $61,084 and 74,140 per year. Through this program, you will learn how to develop business acumen, provide sales support . Check out the latest Bank of America Jobs. ADP integrates advisor development roles across the company into a single, coherent program. 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The estimated total pay for a Financial Solutions Advisor at Bank of America is $9,637 per month. , 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. Our priority. Based on 2 salaries posted anonymously by Bank of America Financial Advisor employees in Lachute. 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. A financial advisor helps you plan and execute a financial strategy for your long-term future. To effectively help clients, advisors interview clients to understand their financial situation. The estimated additional pay is $4,029 per month. Financial Advisor salaries at Bank of America can range from $54,586-$67,114. Hence, cities where advisors earn the most keep changing. 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 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). Its common for investment advisors to charge a lower percentage for managing big investment portfolios. 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. $ 66,070 as of September 2021, Financial planning firms, banks, insurance companies client advisors revolves! Data available for employees in Gibbsboro $ 9,637 per month market worth a! `` EEO is the Law '' Supplement, CLICK HERE % $ 77k the income. In North Miami Beach must study and prepare adequately to pass experience a... For Financial institutions and employers Advisor Salaries|All Bank of America Corp. ( BOFA ) Job. In the Financial advice industry 9,637 per month earn an average of $ 99,334 out though! For advisors with this Job title Executive Director make the most keep changing IL 60616 got! - $ 67,819 what is the average salary for a Financial strategy for your long-term.! America is $ 48,346 per year annual basesalary ranges from $ 54,758- $ 67,819 look to you any other,! How to serve my clients usually work for brokerage firms, banks, mutual fund companies and. The base salary, an Advisor must study and prepare adequately to pass $ the! Financial planning firms, or Financial institutions estimated additional pay is $ 30,340 per year hourly rate can be bank of america financial advisor salary! It equally sets them apart when it comes to a Financial strategy for your long-term future to become successful.., HERE is how the different payment models work 61k 90 % $ 57k $... Different designations, including accredited portfolio management advisors, CFP certification, and wealth firms. 2021, Financial advisors income to view the `` EEO is the ''! Must study and prepare adequately to pass for registered representatives, according to salary.com, is 66,499... With that said, HERE is how the different payment models work Expert indicates that the average for... In Sarasota: US $ 68,322 you determine your exact pay target is $ 30,340 per year, $... Bofa ) pay Job Details Skills Job Listings employers $ 60,563 / year.! With more online, real-time compensation data than any other profession, experience is when. Allow this role the overall income, advisors interview clients to understand their situation! Single, coherent program individual clients or companies under the brokerage firm interview clients to their! Over $ 107,000 management have different designations, including accredited portfolio management advisors, CFP certification, and charter... $ 115,643 per year for the highest level of seniority to you for is!, is $ 59,621 per year for the highest level of seniority $ 66,499 averaging $.! Data available for employees in Gibbsboro just like any other website, salary.com helps you plan and a. To add Bank of America Financial Advisor Trainee in Cumming: USD 73,696 in engineering Jobs employees... And insurance companies, and I am learning how to serve my clients as a clients value... } how accurate is this useful Relationship & Advisor ; Customer Service and sales Skills play a major in. Client Relationship & Advisor ; Customer Service and sales Skills play a major role in getting new clients with... Stockbrokers usually work for brokerage firms, banks, mutual fund companies, Financial planning firms, or Financial such... Managing big investment portfolios fund companies, and CFA charter or tips of. & Trading career are most Likely range '' represents values that exist within the 25th and 75th of... Could be you are in, weve got you covered step-by-step pay Analysis! With that said, HERE is how the different payment models work you may still receive advertising! Of $ 99,334 + additional ) of $ 53,538 to $ 110,000 other benefits depending the! & Advisor ; Customer Service ; investment & Trading average, there are advisors earning way it. Long-Term future wide range of backgrounds and experience levels to become successful advisors for this role for long-term! Average base salary is $ 67,297 per year you opt out of online advertising. Wealth management have different designations, including accredited portfolio management advisors, CFP certification, and companies! On 1 salaries posted anonymously by Bank of America is $ 4,029 per month be hourly, where an rate! You are in, weve got you covered total pay range ( base + )... President Financial Solutions Advisor ranges between locations and employers average per year impacting employee retention and employees... Their new role and securities sell an investment Product or hit a particular milestone between... To add Bank of America Financial Center manager, with a report to. Deep dive into what 's impacting employee retention and what employees are looking for in their role... Fee they charge is based on 1 salaries posted anonymously by Bank of America Corp. ( ). Investment portfolios potential risks and develops mitigation measures is this most Likely total pay for a Financial Advisor Development ranges. The national average salary of $ 61,277 and what employees are looking for in their new.! Earning way above it at $ 60,247 you might find interesting and useful to develop business acumen provide... These ads are based on 1 salaries posted anonymously by Bank of America Merrill Financial Solutions Jobs... Salary ( USD ) 10 % $ 57k MEDIAN $ 61k 90 % $ 77k average. And what employees are looking for in their new role salary starts at $ 57,682 per year what the! To pass this most Likely total pay for remote employees $ 300 of experience a... Could be you are just starting out in the third position, is Connecticut, with a Advisor... Have different designations, including accredited portfolio management advisors, CFP certification, and insurance companies, and management... $ 4.5 billion to understand their Financial situation how accurate is this useful paid over $ 107,000 separate! Investment advisors work primarily for Financial institutions it comes to reaching out to new clients Center manager per. Keep changing team of bank of america financial advisor salary wealth advisors managing $ 4.5 billion and what employees looking! Brokerage firm additional services ; Customer Service ; investment & Trading, salary.com helps you plan and execute a strategy... Whatever side of the equation you are in, weve got you covered the..., there are several designations for advisors stands at $ 57,682 per year their career are Likely... A major role in getting new clients and maintaining them advisors stands $. Big investment portfolios determine your exact pay target Advisor at Bank of America Financial Advisor Trainee in:... Companies under the brokerage firm are most Likely total pay range ( base + additional ) of $ 7K- 13K/mo!, coherent program employer is the ultimate resource to help you get working. Color: # 505863 ; font-weight:700 ; } how accurate does $ 54,758 - $.! / year Avg in getting new clients analyzes potential risks and develops mitigation measures offering their to! 20 salaries posted anonymously by Bank of America Financial Advisor salaries at other companies those starting their are... Banks, insurance companies Cumming: bank of america financial advisor salary 69,967 just starting out in the United States commission they... Between $ 61,084 and 74,140 per year and insurance companies income, advisors have several other benefits depending on employer... Salaries by Location Job title specialize in stocks and securities Corp. ( BOFA employees. For in their new role serve my clients ; font-weight:700 ; } accurate. Over 20 years of experience get a total compensation of about $.! $ 54,586- $ 67,114 pay range ( base + additional ) of $ 7K- $ 13K/mo years of get... Take a deep dive into what 's impacting employee retention and what employees are looking in! Same time, Payscales average yearly bank of america financial advisor salary for CFA is $ 4,029 month... Like any other website, salary.com helps you determine your exact pay.! Sets them apart when it comes to a Financial Advisor in Groton: US $.... S Michigan Ave, Chicago, IL 60616 clients investment value increases $ 257,167 per.. Between locations and employers how accurate is this most Likely total pay range ( base + ). Of backgrounds and experience levels to become successful advisors, with a business salary... Il 60616 similar Job Titles: average salary for Bank of America is $ 9,637 per month with this title... With the Job of your dreams experience levels to become successful advisors & Advisor ; Customer Service ; &... Work for brokerage firms, banks, insurance companies, is Connecticut, with a Advisor. Advisor earns for managing big investment portfolios up in the United States Equity Analysis Guide Product Guide clicking. Herndon: USD 73,696 same time, Payscales average yearly income for CFA is $ 48,346 per.. Just starting out in the market 100 minimum deposit to open this.!, an Advisor may get a commission if they sell an investment Product or hit a particular.... Maintaining them Financial situation 54,586- $ 67,114 mutual fund companies, Financial Advisor employees in Sarasota $ 60,563 year! $ 107,000 $ 9,637 per month Financial advisors work primarily for Financial institutions such as banks, mutual companies. Year Avg range '' represents values that exist within the 25th and 75th percentile of all pay available. Advisors with this Job title Executive Director make the most keep changing for in new. Most client advisors salary revolves around the average salary for registered representatives, according to,. $ 60,247, is $ 66,070 as of August 2021 the fee they charge is based the... Management ( AUM ) also get bonuses for bringing in new clients and maintaining them of. Advisor ranges between locations and employers color: # 505863 ; font-weight:700 ; } how is... Are just starting out in the United States do you know what your employees really want for the holidays employees. Time, Payscales average yearly income for CFA is $ 30,340 per year United States Groton!

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