Personal Financial Advisors Salary 2025: $105,070 Median, Top States Pay $160K+
Personal Financial Advisors earned a median $105,070 in 2024, according to the Bureau of Labor Statistics. The mean wage was $156,670, or about $51 per hour. Pay varies widely: the bottom 10% make $50,190 or less, while the top 10% earn over $357,020. Employment in the field stands at 266,800, with demand expected to grow much faster than average.
How much Personal Financial Advisors earn
The median annual wage for Personal Financial Advisors is $105,070. Half of advisors earn between roughly $64,000 and $169,000. The top 10% exceed $357,020, while the bottom 10% earn below $50,190. Compensation often includes commissions and bonuses, so top performers can far exceed base pay.
Earnings vary by experience, client base, and firm type. Advisors at large brokerages or wealth management firms tend to earn more, especially those with asset-based fee structures. Self-employed advisors may have higher upside but less income stability.
- Median: $105,070
- Mean: $156,670 ($51/hr)
- 10th percentile: $50,190
- 90th percentile: $357,020
Pay by state
New York tops the list at $166,400 average, followed by New Jersey ($158,570), California ($130,330), Connecticut ($129,720), and South Dakota ($128,720). These states have high concentrations of wealthy clients or financial firms.
At the lower end, Oklahoma ($68,670), Kentucky ($67,150), and Mississippi ($63,300) pay the least. Even in lower-paying states, experienced advisors can earn above the median by building a strong book of business.
How to become a Personal Financial Advisor
Most advisors hold a bachelor’s degree in finance, economics, business, or a related field. A few employers accept degrees in other disciplines with relevant coursework or experience.
Licensing is critical. Advisors who sell securities or give investment advice must pass the Series 7 and Series 66 exams, sponsored by a brokerage. For independent advisors, the Series 65 is common. Each state may have additional requirements. The Certified Financial Planner (CFP) credential is the gold standard and requires a bachelor’s, coursework, 6,000 hours of experience, and passing a rigorous exam.
Entry often starts at a brokerage or bank in a training program, building a client base gradually. It can take years to become profitable. Many advisors begin as assistants or paraplanners.
- Earn a bachelor’s degree (finance, economics, or related)
- Obtain required licenses (Series 7, 66, or 65)
- Gain experience through a training program or assistant role
- Consider CFP certification for career advancement
Job outlook
Employment of Personal Financial Advisors is projected to grow 9.6% from 2024 to 2034, much faster than the average for all occupations. That translates to about 24,100 openings per year, mostly from replacement needs as advisors retire or move to other roles.
Demand is driven by an aging population needing retirement planning, and by increasing complexity of tax laws and investment options. Advisors with strong digital skills and ability to serve niche markets (e.g., ESG investing, Gen Z clients) will have an edge.
Frequently asked questions
Do Personal Financial Advisors need a college degree?
Yes, most employers require a bachelor's degree, typically in finance, economics, or business. Some may accept other fields with relevant experience.
What is the job growth for Financial Advisors?
The BLS projects 9.6% growth from 2024 to 2034, much faster than average, adding about 24,100 new openings each year.
Which state pays Personal Financial Advisors the most?
New York pays the highest average wage at $166,400, followed by New Jersey ($158,570) and California ($130,330).
Salary figures are U.S. Bureau of Labor Statistics estimates (OEWS / Employment Projections). For informational purposes only; not career or financial advice. See the full Personal Financial Advisors data.