Introduction
Edward Jones is a financial services firm that provides investment advice to individual investors. The company has been in business since 1922 and has grown to become one of the largest financial services firms in the world. As of 2019, Edward Jones had 14,000 financial advisors across the United States and Canada, making it one of the largest employers of financial advisors in North America.
In this article, we’ll explore how much money the average Edward Jones financial advisor makes. We’ll look at the pay structure of Edward Jones financial advisors and provide an overview of their typical salary. We’ll also discuss other factors that can affect a financial advisor’s earnings at Edward Jones.
A Comprehensive Guide to Understanding the Average Edward Jones Financial Advisor Salary
Before diving into the specifics of the average salary of an Edward Jones financial advisor, let’s take a look at how Edward Jones compensates its financial advisors. Edward Jones pays its financial advisors through a combination of commissions, fees, and bonuses. Commissions are generated when a financial advisor sells a product or service to a client. Fees are charged for providing financial advice and planning services. Bonuses are paid out based on performance and may be tied to specific goals such as building a certain number of accounts or generating a certain amount of revenue.
How much money do financial advisors at Edward Jones make?
The average salary of a financial advisor at Edward Jones varies depending on experience, location, and other factors. According to data from Glassdoor, the average base salary of a financial advisor at Edward Jones is around $58,000 per year. However, the total compensation of a financial advisor at Edward Jones can range anywhere from $50,000 to $150,000 or more depending on their performance and other factors.
In addition to their base salary, Edward Jones financial advisors also have the opportunity to earn commissions and bonuses for their work. Bonuses vary widely and can range from a few hundred dollars to tens of thousands of dollars depending on the performance of the financial advisor. Commissions can also vary significantly and depend on the type of products and services sold by the financial advisor.
The Average Salary of an Edward Jones Financial Advisor
So, what can you expect to earn as an Edward Jones financial advisor? Again, the exact amount will depend on experience, location, and other factors. However, the average salary of a financial advisor at Edward Jones is around $58,000 per year. This figure includes base salary, commissions, and bonuses.
It’s important to note that the total compensation of a financial advisor at Edward Jones can vary significantly depending on their performance. For example, a financial advisor who is able to generate a large number of new accounts or sell a high volume of products and services may be eligible for higher commissions and bonuses. On the other hand, a financial advisor who is unable to meet their goals may be eligible for lower commissions and bonuses.
In addition to salary, Edward Jones financial advisors also receive benefits such as health insurance, retirement plans, and other perks. These benefits can add up to thousands of dollars per year in additional compensation.
Conclusion
In conclusion, the average salary of an Edward Jones financial advisor is around $58,000 per year. This figure includes base salary, commissions, and bonuses. However, the total compensation of a financial advisor at Edward Jones can vary significantly depending on performance, experience, and other factors. In addition to salary, Edward Jones financial advisors also receive benefits such as health insurance, retirement plans, and other perks.
If you’re considering becoming a financial advisor at Edward Jones, it’s important to understand the pay structure and compensation of financial advisors. With the right attitude and hard work, you can potentially earn a good living as a financial advisor at Edward Jones.
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