Financial adviser : Salary and conditions

Range of typical salaries at trainee adviser level: £22,000 - £30,000.
Range of typical salaries for qualified financial advisers: £30,000 - £40,000.
Senior financial advisers can earn in excess of £40,000.
Wealth managers/private client advisers who are based in the wealth division of major retail and private banks can earn in excess of £70,000.
It is often possible to earn bonuses, which can be uncapped.
Some jobs, for example as a tied adviser in a high street bank, offer regular office hours. However, flexibility is required if working for a banking contact centre or as an independent financial adviser (IFA) as clients may require evening and weekend meetings.
Working can be office based although IFAs may work from home or meet clients in their own homes.
Self-employment and career breaks are possible.
There are openings for tied, multi-tied and independent advisers throughout the UK. However, private banking positions tend to be based in the City of London and other key financial areas such as Edinburgh, Belfast and Manchester.
Travel within a working day is common for IFAs, but overnight stays away from home are unusual.
Due to the regulatory nature of financial advice, overseas work is uncommon and most jobs are UK-based serving UK customers. However, there are some opportunities for experienced advisers to work abroad for offshore financial advisory groups and international banks.

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AGCAS

Written by AGCAS editors

Date:

August 2011