How much can I earn as a Financial Consultant(by selling insurance policies, 401K plans etc.)?
7:57 pm in Insurance jobs and educations by The Broker
I want to start my career as a Financial Consultant with Principal Financial Group in San Francisco, CA. I just wonna know how much can I earn as a Financial Consultant(by selling insurance policies, 401K plans etc.)
I just want to know if it can be a good career move. I just want roughly upto how much can a person earn in this.
Robert M said on March 2, 2012
Go to salary.com and register but don’t pay for service. You can get a free snapshot by location of the median and quartile salaries for just about anything!
Deidre B said on March 2, 2012
well you could not move and stay where you are- selling discount benefits for health care–almost same thing- work from home and work for ameriplan – i work for them at home in my own time- it is very rewarding- you basically add to your income each month- every month you add more money to your check– I had been burnt by places id go to and pay and sign up but they were scams- and then i found ameriplan and they really do pay you- you get a dental plus membership- and other benefits-i have already saved money with the prescription discount- you have to pay to run your business just like any other at home business – but its cheap to run this one- 50 a month and no paying taxes on it at the end of the year–everything you spend on it-keep the reciepts and get it back at the end of the year when you do your taxes– its a great job– after doing the 2 year plan if you stay serious about it—you can be making up to 100,000 a year. hubbysbaby_2001 is my messenger
smecky809042003 said on March 2, 2012
Try getting your CFP (Certified Financial Planner). The one I work for surpassed 1.4 mil last year.
punchie said on March 2, 2012
Taking a TOTAL stab in the dark…I’m guessing anywhere between $50-maybe $60K starting out (+ or minus commissions/load fee percentages)…if you play your cards right. Granted it is not your typical…everyday kind of job…it requires lots of OJT (on the job training) Classes in Security Exchange/Trading/Business& Accounting Law (lest we do anything illegal now) continuing education, lots of $ towards advertising and marketing. It’s a loaded question you asked because it’s like any career…you get what you put into it. Most often it is a referral based business upfront before you get the repeat/steady customer base…as I understand it from my financial advisor. Fees are based on a % of what the client asks you to manage…the more they make the more you take. The better you are at your job the greater the rewards. But, the bottom line is knowing how to work with people, lots of trust issues involved it’s not a “quick buck” mentality if you want to stay in the game long-term. Regardless, it sure wouldn’t hurt you to try something new & more importantly increase your knowledge of financial concepts/management that you can “take with you” to enhance your personal financial health & wellbeing…regardless if you do this short or longterm.
drm7 said on March 2, 2012
If you are good at sales and good with people (who need to trust you to more or less handle their money) then you can make a lot of money – $100,000 to $500,000+ per year.
The “catch” is, you have to work your tail off and endure some lean years while you are building your client base. There will be long hours of hosting dinners, making 1,000′s of phone calls, and driving all over the place to pitch your services. There was a recent article in the Wall Street Journal that showed 3-5 year attrition rates in the 70%-80% range!
Its tough, but once you build a nice business, it pays off big. The other nice thing about building a big client base, is that other firms will pay you big money to bring them in, like 100% of last year’s commissions UP FRONT as a signing bonus.