Salary Range of a Financial Planner

Video Transcript

"OK, so what is the salary range for a financial planner? That's a very difficult question to answer because it's really going to depend on the practice, and the location where a planner works, you know, what the, the, the opportunities are. When you, when you ask about a salary range, financial planner's generally work on a commission or fee based structures, so they're not really going to have a salary. Most of the time people that are doing financial planning for a living are going to be charging either a, a set fee, which will cover all the expenses, any investment trades, and purchases or sales that they're, they're working on for a client, and some people will charge just different commissions, a set commission structure for each, each transaction. But, so there really isn't a salary range. Most planners will, will, if they've built a large enough client base, will do very will, and they can make a nice six figure income. In the early stages, when someone's starting out, many times a financial planner will not have that many clients, maybe they're also still getting some experience in the field, and don't have a full array of products to work with. You know, they may be making fifty thousand dollars in their first year, just getting started out. But as, as a planner grows their business, they're able to make a pretty substantial income, usually in the six figure area. And it's just, key thing, financial planners that do, you know, really hold their clients interests first, and really look out for their clients in the best way will always, in the long run, make more money."