retirement planning

The Average Salary for Fidelity Financial Advisors

By Mark Davenport 11 July, 2023 3 mins read

The annual salaries for financial advisors are between $175,000- $193,000. This includes both lead and operations positions. Pay spreads are greater for those who live closer to clients. Operations managers in San Francisco, for example, can expect to make $102,000 annually while Chicago-based managers can make $94,000. Compensation studies vary greatly by position, but here are the averages for various positions in the industry.

Earned Commissions

Fidelity brands financial advisors get a percentage of the assets that they manage as earned Commissions. These commissions come as fees for clients' advice and products. These fees are calculated according to your assets and then the fees are added up. Fidelity Wealth Services program options are subject to Fidelity’s fee schedules.

The largest fee an investor pays to their advisor is the sales charge. Investors pay a fee to load funds and the financial adviser receives a commission. The $108 annual fee was paid by the investor and the 4.75% commission was received by the advisor. The total earnings of the financial advisor from this investor was $7,500

Product-related fees

For directing client funds into certain investment companies, financial advisors are paid product-related fees. Schwab, for example, pays advisers for sales of its no-transaction-fee funds. 2012 saw advisers sell $216.6 trillion in client funds. Fidelity however does not reveal its sales numbers.

Fidelity also offers robo-advisors, such as the Fidelity Go Robo-advisor that automatically rebalances investors' accounts based on user answers. This is particularly beneficial for those who want to manage and control their investments. Fidelity Go combines the best of both roboinvesting and personal one-on-1 calls.

Bonuses

Fidelity Investments is responding to the country's recession by cutting its bonuses. According to the company's president, Rodger Lawson, only 15 percent of employees will receive raises in July, mainly in the form of a profit-sharing award. Accordingly, year-end bonus are likely to be cut. In general, bonuses can range from 12% to 100 percent of base pay.

Fidelity offers a sign-up bonus that is quite large even though it requires a low minimum deposit. E*TRADE & Ally Invest require a minimum initial investment of $10,000. Fidelity offers a bonus that may be attractive to new investors who wish to begin trading. The company offers commission-free trading of U.S. stocks or ETFs. Mutual funds are also available. This is an ideal option for investors who want the freedom to invest without having to incur large expenses.

Experience level

The average salary of a Fidelity Financial Advisor is $61,984. This is 16% less than the national average. The data sources for the salary information include 9 data points. This includes salaries reported by employees as well as job advertisements on websites like Indeed. The experience level of financial advisors varies, as does the pay.

Fidelity Investments began in 1946 as a mutual funds firm, and has grown to a nationwide provider of financial services. Its mission aims to empower people and provide financial security. There are both part-time or full-time opportunities at the company. Remote work is possible for some positions. In the wake of the recent pandemic, Fidelity allowed its employees to work from home and still receive their paychecks.

Locate

Fidelity Investments employees have an average annual salary at $98,986, or $47 an hour. The company offers a variety of salaries in a range of job titles. The highest-paid job is Director of Sales. It earns $246,494 annually. The lowest paid position is that of Accountant. They earn $45,200 each year. Other typical Fidelity salary categories include Admin, Communications, Operations, and Engineering.

The average Fidelity Financial Advisor's salary is $49k188, but it can vary by job title, geographic location and years of experience. ZipRecruiter analyzes millions of job postings to calculate the average salaries for these positions.

FAQ

How do I get started with Wealth Management?

First, you must decide what kind of Wealth Management service you want. There are many types of Wealth Management services out there, but most people fall into one of three categories:

Investment Advisory Services. These professionals will assist you in determining how much money you should invest and where. They provide advice on asset allocation, portfolio creation, and other investment strategies.
Financial Planning Services - This professional will work with you to create a comprehensive financial plan that considers your goals, objectives, and personal situation. He or she may recommend certain investments based on their experience and expertise.
Estate Planning Services- An experienced lawyer will help you determine the best way for you and your loved to avoid potential problems after your death.
Ensure they are registered with FINRA (Financial Industry Regulatory Authority) before you hire a professional. You can find another person who is more comfortable working with them if they aren't.

What are the benefits associated with wealth management?

The main benefit of wealth management is that you have access to financial services at any time. Savings for the future don't have a time limit. If you are looking to save money for a rainy-day, it is also logical.

To get the best out of your savings, you can invest it in different ways.

To earn interest, you can invest your money in shares or bonds. You can also purchase property to increase your income.

If you decide to use a wealth manager, then you'll have someone else looking after your money. You won't need to worry about making sure your investments are safe.

Is it worthwhile to use a wealth manager

A wealth management company should be able to help you make better investment decisions. The service should advise you on the best investments for you. You will be armed with all the information you need in order to make an informed choice.

However, there are many factors to consider before choosing to use a wealth manager. You should also consider whether or not you feel confident in the company offering the service. Will they be able to act quickly when things go wrong? Can they easily explain their actions in plain English

What Are Some Benefits to Having a Financial Planner?

Having a financial plan means you have a road map to follow. You won't have to guess what's coming next.

This gives you the peace of mind that you have a plan for dealing with any unexpected circumstances.

Your financial plan will also help you manage your debt better. If you have a good understanding of your debts, you'll know exactly how much you owe and what you can afford to pay back.

A financial plan can also protect your assets against being taken.

What is estate planning?

Estate planning is the process of creating an estate plan that includes documents like wills, trusts and powers of attorney. The purpose of these documents is to ensure that you have control over your assets after you are gone.

Do I need to pay for Retirement Planning?

No. This is not a cost-free service. We offer FREE consultations so we can show you what's possible, and then you can decide if you'd like to pursue our services.

Statistics

US resident who opens a new IBKR Pro individual or joint account receives a 0.25% rate reduction on margin loans. (nerdwallet.com)
According to Indeed, the average salary for a wealth manager in the United States in 2022 was $79,395.6 (investopedia.com)
A recent survey of financial advisors finds the median advisory fee (up to $1 million AUM) is just around 1%.1 (investopedia.com)
According to a 2017 study, the average rate of return for real estate over a roughly 150-year period was around eight percent. (fortunebuilders.com)