How Much Money Does A Financial Planner Make?

The financial industry has taken some hard hits in the past few years with many unscrupulous advisors and investment analysts having helped to cause this problem. Going into the field of financial planning can be a tough decision as the market is not strong at this point, but there are some upsides that should be considered when deciding on this field. One of the first questions that are asked is, “How much money does a financial planner make?”  The answer is really twofold, as there are two different and distinct areas for a financial planner to pursue.

The first area is that of the financial analyst who works with large and small businesses in the corporate section of the financial community. They are typically going to be working one-on-one with the companies to set up their retirement funds as well as their stock options and other financial investments. When considering the question how much money does a financial planner make in this field, the average salary for them can range from fifty thousand a year to ninety thousand a year.

This amount can drastically increase for the analyst who offers solid investments and who earns high commissions and bonuses. A good financial analyst can earn upwards of one hundred thousand in just a few years in the industry. While not all analysts are going to be at the high end, those who work hard, watch the trends and offer sound advice are going to be financial stable and are not going to have to worry where their next meal is going to come from.

On the other hand, answering the question, “How much money does a financial planner make?” in the personal finance department can be significantly lower. This is expected to change in the next five to ten years as the baby boomers start seriously considering their retirement investment portfolios. These financial advisors have a more widespread earning potential as their income can depend mostly on commissions with salaries being lower than those of the financial analyst are.

It is difficult to state an exact average that is going to be made, but most are going to earn between thirty thousand dollars and ninety thousand dollars as a salary. This amount can be great increased with commissions, as bonuses are not a huge factor when determining the average income of these advisors. An advisor who has a good portfolio of clients and who offers sound investment advice is going to be popular as word of mouth does more advertising than anything else and there are going to be clients lined up for them which can greatly increase the income.

While financial planning may not seem like a solid career choice with the economic downturn, it is actually a great field to get into. Answering the question, “How much money does a financial planner make?” can only be done by looking at which area is going to be dealt with. Financial analysts are going to make much more money than a financial advisor will.