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How much money does a financial advisor make? Financial advisor salary and training

DKrunner | Nov 30, 2011 |

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Financial advisors come from a large variety of educational backgrounds and work histories.

You don't necessarily have to have majored in any kind of accounting or business degrees in order to insert financial advisor jobs.

Full of the best financial advisor selling points out there.

In fact, this profession typically has everyone from psychology backgrounds to teaching backgrounds to English backgrounds; the most important first step to becoming a financial advisor is that you have a bachelors degree.

After you have your bachelors degree, you may need to become certified in order to be able to start providing financial counsel to clients.

The exact certification that you need will depend on where you live and what company you are planning on advising people through.

How much money does a financial advisor make? Financial advisor salary

A financial advisor makes an average of $54,000 per year.

The exact salary that a financial counselor will make is going to demand on a number of things; what their background is, how much experience they have, where they live, what kind of clients they are counseling, who they work for, and more.

Maybe the most important variable in the financial advisor salary is going to be how good of a salesperson the individual is.

Most, or at least many, financial advisor jobs are paid on a commission basis.

If you have an open schedule we you are not meeting with the clients, you may not even be paid; these professionals are not necessarily paid by the hour, but are often paid by what kinds of services they are providing their clientele and how many hours a week they are spending on their customers cases.

The structure of the company that you work for is also going to make a big difference in how much money you make as a financial advisor.

For example, you would actually have much less earning potential if you work for a company who paid financial advisors by the hour, at a flat rate.

While commission-based positions may not provide the security of always knowing how much money you are going to take home each month, at least they give you the incentive to work extra hard in order to take home an extra big paycheck.

When you are working off of commission, you can really bump up the amount of money that you are bringing in each month, as long as you are able to stay motivated.

What makes a good financial advisor?

A good financial advisor must have fantastic salesmanship skills.

They need to be able to come off as personable and trustworthy; people will be sharing very sensitive information with you and if they feel as though they can't trust you, you are going to have a hard time keeping clients.

A good financial advisor will also be very organized.

You are going to need to do a good job of keeping especially once you start working with more than one client at a time, all of your different clientele's paperwork separate.

If you are personable, motivated, and financially savvy, you may find that you can earn much more than the average financial advisors salary, and you will probably find this job rewarding.