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For Advisors Only – Financial Advisor Assistant Salary

Here is my reply to a question that a financial advisor had about Financial Advisor Assistant Salary in For Advisors Only.

Dear __________,

$37,500 salary is a good salary but it is not a great salary.

It is said that 33% of financial advisors are over 63 years old and there are not as many young advisors coming in the industry as those that are leaving.

This could hold true for advisor assistants also.

In my travels, when I see the “help wanted” sign is bigger than “please wait to be seated”, we have to expect that every industry is going to be hit with a shortage of great and qualified people.

Salary will depend on region. My experience of assisting financial advisors who focus on insurance to their hire assistants is that they are paying low 40’s in smaller centers, to 50ish in the city for a high quality, experienced licensed assistant.

If financial advisors have a great assistant, pay them above scale because sooner or later, someone will tempt them with a better offer.

In your case, based on your job description, I would head towards $45,000 in I years time setting some performance benchmarks for the next pay raise and do quarterly reviews along the way.