Good news regarding financial advisor compensation according to The FA Insight Study of Advisory Firms: People and Pay Compensation Update for 2012, released Tuesday.
“Compensation within the financial advisory industry is rising at rates significantly greater than the rate of increase for U.S. workers at large,” the study reports. “In the two-year period dating back to the close of 2010, the cumulative increases in compensation for advisory firms are anticipated to range from 6.1% to 10.3%.”
FA Insight, a consulting and research firm that focuses on advisors, defines total compensation as base pay and variable pay including commissions, bonuses, and performance-based incentives.*
*John Sullivan, reporting for AdvisorOne