As a financial advisor works depends on many factors, not least, is how they charge their customers for their services. The most common fee structure for experienced financial advisers is a tax on the basis of an agreement for compensation to a percentage of assets under management on. A normal 1% is the value of the portfolio will be collected annually.
According to Money Magazine, the average financial advisor earns $ 120,000 per year, while payments on the advice you need $ 12U.S. Dollar in investments in management with a share of 1% on earnings of $ 120,000. But not everything that the cost of 1% of profits - primarily through taxes and other costs should consume.
For example, approximately 20% of the brokers in this way as a consultant for the back-end services such as manufacturing, handling compliance issues, support for commercial software, compensation, and statements by the customer. In addition, a consultant must include the costs for other activities, such as rent paid eg office,Internet and telephone services, accounting, insurance and tax. This additional 30% and personal taxes are removed and another 30% of the remaining 20% of the fee as profit.
Thus, although $ 120,000 average salary is about $ 24,000 with the consultant's non-profit left. This number must not have the same impact as $ 120,000 per year, but if you share this month, to pay $ 2000 per month, non-profit is not - bad.
Another thing to consider whenever you want, the average viewFor financial advisers is that there are many financial advisors out there, especially the new financial advisor, which also only approximately $ 120,000 per year. When I started as a financial consultant who made $ 24,000 a year and it was a rather generous allowance for someone new to the industry.
Of course, this amount was supplemented by commissions and bonuses, but if you consider that so many new financial advisors are so few, that 50% have the highest fundingnot much more than the average $ 120,000 per year.
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