December 8, 2023

Financial Planning continues its annual analysis of advisor base salaries by looking at payout rates for advisors earning $400,000 in 2023.

Scroll to see how each company ranks.

To view last year’s data, click here. To see what industry experts can expect from consultant compensation this year, click here.

This is the first of four parts of our annual survey. Salary comparisons for other production levels in the survey include:

– $600,000 producer fee paid

– Producer paid $1 million

– Producer paid $2 million

Data collected by Arizent and analyzed by compensation consultant Andy Tasnady and his firm, Tasnady & Associates.

Note on this year’s analysis: Many special policies were not included because they do not affect 100% of the advisor population on average, so the variance is too great to compare. Individual results may vary significantly depending on each company’s business and policy mix. For example, compensation may increase for special bonuses or decrease for penalties such as discount sharing, small customer restrictions, and airfare fees.

Base salary assumptions (before special policies/or bonuses):

  • 25% for individual stocks; 25% for individual bonds; 25% for investing in mutual funds; 25% for fees (wrapper accounts, escrow accounts, etc.)
  • The year-end basic bonus is shown as a deferred total.
  • Assume the service life is 10 years.
  • Assume no influence from growth-based bonuses, asset-based bonuses, or other behavior-based rewards.
  • Excludes voluntary deferral matches, 401(k) matches, or profit-sharing contributions unless otherwise noted.
  • Does not include: T&E fee allowances, discount sharing or fare fee assumptions, small family or small ticket policy assumptions, or the value of any option awards.

*All data provided by companies selected and compiled by Arizent and analyzed by Tasnady & Associates. Edward Jones figures are averages and individual FA experience may vary.