How Much Money Do Financial Advisors Make?

What kind of salary can a financial advisor earn? The Bureau of Labor Statistics (BLS), lists the salary range for financial advisors at $49,500–$102,140 per year. Why the big range? It all depends on the type of financial advisor. Here are some examples.

Stockbroker Salary (Registered Representative Salary)

Stockbrokers, which FINRA calls registered representatives, are financial advisors who work at brokerages, managing the financial portfolios of individuals or corporate clients. According to the BLS, the median stockbroker salary is 78,140 per year.

However, because stockbroker pay is commission-based (after a certain sales threshold), they have the opportunity to earn much more than that. According to the U.S. Department of Labor’s CareerOneStop, the high end of yearly wages for Securities, Commodities, and Financial Services Sales Agents in the U.S is $215,210.

If you’re interested in becoming a stockbroker or registered representative, you’ll need to earn securities licenses from FINRA. These include the Series 7 and Series 63 licenses.

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Investment Advisor Salary

Working for a financial investment firm, financial planning firms, or themselves, investment advisors determine the best investments for a client’s portfolio. According to the 2024 CFA Institute Compensation Study, Consultants in the United States earn compensation near $200,000 annually. Similar to stockbrokers, investment advisors earnings can include commissions and profit-sharing. If becoming an investment advisor appeals to you, you’ll need a Series 65 license, which enables you to work with clients as an Investment Advisor Representative.

Financial Planner Salary

“Financial planner” is a broad term for a type of financial advisor who helps individuals and corporations meet their long-term financial objectives. They typically charge clients a percentage of the assets they manage. They may also charge an hourly fee or get fees for stock and online insurance policies purchased. Those who help individuals with planning are called “personal financial advisors.” Many of these financial planners are certified CFP® professionals.

According to the 2025 Compensation Study from the CFP Board, the median total compensation for a financial planner is $185,000 annually.

Wealth Manager Salary

A wealth manager is a type of financial advisor who consults with high-net-worth clients to achieve their goals related to wealth accumulation, protection, and distribution. High-net-worth clients generally refer to those worth $1 million or above, although some firms only serve clients worth at least $5–10 million. 

According to the 2024 CFA Institute Compensation Study, an intermediate professional who works as a portfolio manager earns $101,033 on average annually. However, portfolio managers have the potential to earn much more, especially as they gain more experience and become higher in seniority.

Designations offered in wealth management are many and varied. Examples include Wealth Management Specialist^SM, Accredited Portfolio Management Advisor^SM, the CFP^® certification, and the CFA^® charter. If wealth managers are providing investment advice or selling securities, they will also need (at minimum) Series 65, Series 6, and Series 7 licenses.

Interested in Becoming a Financial Advisor?

If you put in the time and hard work to earn your securities licenses or CFP^® certification, you can increase your odds of earning a top salary as a financial advisor. Securities prelicensing exam preparation packages and CFP® education help increase your odds of earning the licenses and certification that can get you started on the path to financial success.