Series 65 Salaries: How Much Investment Advisors Make

As a fellow finance and math aficionado, I know exactly why you’re here: you’re gauging the return on investment you can expect from earning your Series 65 license.

This is a great idea—after all, college degrees in a whopping nine different career clusters have a negative ROI. Say what you will, but I believe that when you work hard to improve your career and your future, you deserve to make more money, not less.

In this guide, I’ll explain the salary levels you can expect with a Series 65 license so you can decide whether this journey is worth it.

Key Takeaways

• Series 65 Salaries Vary Widely: Earnings depend on experience, location, and compensation structure, with top earners exceeding $200,000 annually.
• Career Flexibility: Series 65 holders can pursue roles like investment advisors, financial planners, or financial services sales agents.
• Compensation Structures Influence Income: Pay models—salary, commission-based, fee-based, or combination—play a major role in determining earning potential.
• Location Matters: Advisors in major financial hubs tend to earn higher salaries due to increased demand and cost of living.
• Certifications Boost Earning Potential: Adding certifications like CFP® or CFA® to a Series 65 license can significantly enhance career prospects and salaries.

What is the Series 65 License?

If you’re passionate about financial planning and advising, the Series 65 license isn’t just a good idea for you—it’s a legal necessity. Without it, you can’t charge a fee for investment advice or financial planning services. If you ignore it, you may be subject to fines, lawsuits, barring from the industry, or even jail time.

The Series 65 exam, officially known as the Uniform Investment Adviser Law Exam, is administered by the Financial Industry Regulatory Authority (FINRA). Passing the Series 65 allows professionals to work as investment advisor representatives (IARs), providing investment advice and managing assets for clients. Unlike other securities licenses, the Series 65 enables advisors to offer financial products and services without selling securities directly. I highly recommend a Series 65 prep course to pass on your first try.

Series 65 Salaries: Important Factors That Influence Earnings

According to salary data from the U.S. Bureau of Labor Statistics, the typical annual salary for financial advisors is around $100,000, with top earners exceeding $200,000. Several factors impact Series 65 salaries, including location, experience, industry, and compensation structure. Let’s explore each of these critical factors:

1. Experience Level

Experience often plays an important role in determining salary for financial professionals with a Series 65 license.

• Current Range: New professionals can expect an average base salary between $50,000 and $100,000 annually. At this stage, many firms provide mentorship and opportunities to gain expertise.
• Top Earners: For the top 10% of earners, investment advisors and financial planners can earn over $200,000 yearly.

2. Location

Location significantly influences the salary ranges for Series 65 professionals. Jobs in New York, San Francisco, Chicago, and other major cities typically provide higher salaries because of increased demand and the elevated cost of living in these financial centers.

Advisors in large metropolitan areas can expect higher pay ranges and access to high-net-worth clients.

• In smaller markets, professionals may earn slightly lower base salaries but often enjoy lower competition and a lower cost of living. Depending on the exact ratios, working somewhere with a high salary and low costs in the area may be more cost-effective.
• Financial advisors can work remotely and provide services across the nation. Most states have a “de minimis” exemption, which allows you to have up to five clients per state before registering with said state.

3. Industry and Job Role

Series 65 professionals work in various roles across different industries. Pay can vary depending on the type of employer and services provided.

• Investment Advisory Firms: Offering financial planning and investment advice through firms can result in stable salaries with performance-based bonuses.
• Registered Representatives and Brokers: Professionals providing investment products and selling securities may earn commission-based compensation in addition to a base salary.
• Independent Financial Advisors: Independent financial advisors often charge hourly fees or retainers, allowing for flexible earning potential.
• Banks and Financial Institutions: Banks’ salaries for financial services sales agents often include a combination of base pay, commissions, and bonuses.

4. Compensation Structure

Earning potential for Series 65 professionals is often determined by their compensation model:

• Salary-Based: Salary-based pay is precisely how it sounds: a flat annual payment that doesn’t fluctuate. Salary-based jobs typically have the lowest earning potential.
• Commission-Based: Commission-based pay rewards advisors for selling financial products. This method offers the highest earning potential but can be unpredictable.
• Fee-Based: Fee-based pay involves charging clients hourly fees, flat rates, or a percentage of assets under management. It balances earning potential with stability.
• Combination Models: Combination models blend salary, commissions, and bonuses to provide both stable income and performance-based incentives.

Series 65 Salary Ranges by Role

Here’s a breakdown of average salary ranges for professionals with a Series 65 license:

• Investment Advisor Representative (IAR): $60,000 – $80,000
• Personal Financial Advisors: $45,000 – $85,000
• Financial Planners: $85,000 – $115,000 (this may require a CFP®)
• Financial Services Sales Agents: $45,000 – $95,000 (not including commissions)

Earning Potential Beyond Base Salary

Bonuses and Profit Sharing

Many firms reward advisors with performance-based bonuses and profit-sharing incentives. In established companies, agents with the best sales volume at the end of the year often earn perks like cash bonuses and/or luxurious, all-expenses-paid vacations.

Commission-Based Income

Financial advisors who sell securities, insurance, or investment products usually earn commissions on each sale. For example, insurance brokers make between 2% and 8% commission on premiums.

While commission-based roles have less consistent income than a purely salary-driven model, the sky is the limit for successful advisors with a wealth of strong client relationships.

Hourly and Fee-Based Models

Independent investment advisors often charge clients:

• Hourly fees for financial planning services
• Flat fees for specific investment advice
• A percentage of assets under management (e.g., 1% of AUM annually)

This model offers unlimited earning potential for advisors with a strong client base.

Series 65 Career Paths

Plenty of top careers in the finance industry require a Series 65 license to practice, including:

• Investment Advisor: Provide clients with investment advice and financial planning services.
• Financial Planner: Assist clients with retirement planning, budgeting, and financial goals.
• Registered Representative: Sell securities and investment products while offering expert guidance.
• Insurance Agent: Combine financial planning expertise with insurance sales.
• Financial Professional in Banks: Worked as a financial services sales agent, helping clients manage investments and financial products.

Important Certifications for Career Growth

To maximize earning potential, Series 65 professionals may obtain additional certifications:

• Certified Financial Planner (CFP®): Enhances credibility as a financial planner.
• Chartered Financial Analyst (CFA®): Valuable for investment professionals.
• Securities Licenses (Series 7, Series 63): Allows professionals to sell securities and expand their services.

Combine one or more of these certifications with your Series 65 expertise to gain a competitive edge in the market.

Final Thoughts

The bottom line? Compensation for Series 65 license holders varies wildly, partly due to the large number of pay models in the finance industry. However, you can expect to earn anywhere well over $100,000 on average, depending on your exact role, location, company, and compensation structure.

Want to earn more? Become a salesperson who earns commission and master the art of building genuine, authentic relationships with your clients—and truly caring about them enough to give them the advice they need. Your books will be full in no time!

Best of luck!

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