Investment Consultant Salary
With the highest median pay of $271K, highly experienced Investment Consultants make much more than the national average ($60K per year) for those in this field. Salaries for inexperienced workers average out to $80K, and those with five to 10 years' experience earn a higher median of $58K. After 10 to 20 years, professionals can make it pretty big; the median salary sits in the six-figure neighborhood of $110K. Seasoned workers who boast more than two decades of relevant experience enjoy a median salary of $271K, which is substantially larger than the medians reported by folks with fewer years on their resumes. The data in this summary comes from the PayScale salary survey.
Job Description for Investment Consultant
The investment consultant holds an advisory position and works with their company's clients or as a contractor for multiple organizations. Brokerage firms and investment advisory companies are typical employers for investment consultants. The investment consultant is responsible for making calls to prospective and current clients, resolving their concerns and issues, and strengthening relationships. They help clients manage their portfolios, make suggestions, figure out the client's goals, and establish plans to achieve those aims. These professionals must track interactions with clients through a customer relationship system software. The consultant must be comfortable speaking with a wide variety of people, and they may also work with other branches and divisions of their company to serve clients as well.Read More...
Companies generally require that candidates hold at least a bachelor's degree in finance, business, or a related field, with a master's of business administration (MBA) often preferred. The investment consultant also needs to have Series 7 and Series 63 licenses, and some companies may also look for completion of a chartered financial analyst (CFA) program. Entry-level investment consultant positions may not require experience or require a low amount of experience (such as one year); senior-level investment consultant positions often require more experience, generally at least three years in the financial services industry. Proficiency with basic computer programs is needed, and companies frequently prefer applicants who are bi- or multilingual.
Investment Consultant Tasks
- Manage client investments by analyzing client’s finances, identifying needs, and developing goals and financial plans.
- Assist with the development and facilitation of seminars and marketing development plans.
- Generate sales opportunities by promoting products and services to existing and potential clients.
- Identify and follow-up on opportunities to expand client assets.
Investment Consultant Job Listings
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Popular Employer Salaries for Investment Consultant
Heading up the field in terms of compensation, TD Ameritrade, Inc offers the most; Investment Consultants earn $105K on average there.
With a median salary of only $58K (80 percent lower than the top payer), Scottrade, Inc. lags significantly in the earnings department.
Popular Skills for Investment Consultant
Investment Consultants who responded to the survey indicated only a few skills that they use on the job. Most notably, facility with Financial Analysis and Investment Management are correlated to pay that is significantly above average, leading to increases of 29 percent and 15 percent, respectively. Skills that seem to negatively impact pay include Investment Planning. The majority of those who know Financial Analysis also know Sales.
Pay by Experience Level for Investment Consultant
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Pay Difference by Location
Surpassing the national average by 116 percent, Investment Consultants in San Francisco receive some of the highest pay in the country. Investment Consultants will also find cushy salaries in Boston (+111 percent), Los Angeles (+77 percent), Chicago (+55 percent), and Atlanta (+37 percent). Trailing the national average by 19 percent, Pittsburgh is the market with the smallest paychecks.
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Key Stats for Investment Consultant
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