Registered Client Associate Salary
Job Description for Registered Client Associate
A registered client associate holds a banking and investment sales and support position, offering information and assistance to subordinate financial advisers to help acquire new client investment portfolios and accounts. The tasks performed by registered client associate positions include sharing sales knowledge with customers and associates, supporting the administrative tasks of subordinate financial advisers, maintaining client account information, and lending assistance to subordinate financial advisers for special projects and urgent account tasks. They are also responsible for interacting with customers and associates in person, on the phone, and via e-mail, as well as opening new customer accounts and establishing new customer portfolios. Registered client associates also provide support for existing customer accounts and portfolios, as well as generate reports and data for accounts and portfolios.Read More...
Qualifications for registered client associate positions typically include an associate's degree in a business- or finance-related field, though a bachelor's degree is often preferred. Two or more years of clerical or banking experience and Series 7 and Series 63 licenses are also needed, though some states or institutions may seek applicants with Series 65 or 66 licenses in place of or in addition to the standard Series 7 and Series 63 licenses. The skills needed for registered client associates include the ability to multitask, excellent customer service skills, the ability to work independently in an office environment, proficiency with basic computer programs such as the Microsoft Office suite, good written and verbal communication skills, and a solid understanding of investment and banking concepts.
Registered Client Associate Tasks
- Provide sales support to financial advisors.
- Process account service requests and ensure appropriate documentation.
- Leverage various communication channels to keep in touch with clients.
- Collect appropriate documentation to set up new accounts.
- Educate clients on account services and capabilities.
Common Career Paths for Registered Client Associate
Registered Client Associate Job Listings
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Popular Employer Salaries for Registered Client Associate
Merrill Lynch & Co Inc, Wells Fargo Advisors Financial Network, LLC, Wells Fargo & Co., RBC Wealth Management, and Royal Bank of Canada are all popular places to work. Registered Client Associates flock to Royal Bank of Canada for generous paychecks, where average earnings of $77K lead the pack in compensation.
Wells Fargo Advisors Financial Network, LLC is infamous for dishing out the smallest paychecks in the area (the median in that office is $48K), but the company pay scale is greatly mixed, meaning that workers on the low end may earn only $36K while workers on the upper end may rake in $66K.
Popular Skills for Registered Client Associate
Registered Client Associates who responded to the survey report just a handful of professional skills. Those who have experience with Customer Service, Client Interaction, and Microsoft Excel can expect to be compensated well for these skills. Skills that are correlated to lower pay, on the other hand, include Microsoft Excel. Those proficient in Client Interaction are, more often than not, also skilled in Microsoft Excel.
Pay by Experience Level for Registered Client Associate
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Although individuals who have less than five years' experience earn $46K on average, people with five to 10 years benefit from a notably larger average of $56K. People with 10 to 20 years of experience make an average of about $55K in this role. Veterans who have surpassed the 20-year mark may make no more than those who are navigating the mid-career stage.
Pay Difference by Location
For Registered Client Associates, busy Washington offers a higher-than-average pay rate, 52 percent above the national average. Registered Client Associates can also look forward to large paychecks in cities like San Francisco (+17 percent), Seattle (+16 percent), New York (+8 percent), and Newport Beach (+6 percent). Chicago is home to the smallest salaries in the field, lagging the national average by 11 percent. Employers in Miami and Atlanta also lean toward paying below-median salaries (6 percent lower and 4 percent lower, respectively).
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Key Stats for Registered Client Associate
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