The median annual wage of personal financial advisors was $64,750 in May 2010. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $32,660, and the top 10 percent earned more than $166,400.
Wages of self-employed advisors are not included in the earnings reported here.
Personal financial advisors who work for financial services firms are often paid a salary plus bonuses. Bonuses are not included in the wage data here.
Advisors who work for financial investment firms or planning firms or who are self-employed typically earn their money by charging a percentage of the clients' assets that they manage. They may also earn money by charging an hourly fee or by getting fees on stock and insurance purchases. In addition to their fees, advisors generally get commissions for financial products that they sell.
Most personal financial advisors work full time, and 24 percent work more than 50 hours per week. They often go to meetings on evenings and weekends to meet with existing clients or to try to bring in new ones.
Source: Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2012-13 Edition