The earning potential for financial advisers in the UK is very varied, and there are a range of influential factors that can affect it, such as your position, company, location, level of experience and the nature of your working contract.

However, we know how frustrating it can be not having a clear idea of earning potential when thinking about a potential career, so below are some average ranges that we have pulled from recent research at large financial adviser businesses:

For employed advisers:

• A trainee adviser can expect to earn between £20-40K per year on average (before tax).
• A qualified adviser can expect to earn between £50-100K per year on average (before tax).

For self-employed advisers:

• Self-employed advisers can expect uncapped earnings depending on the amount of business they write and their cost management.
• A business owner of a Financial Advice business can also expect uncapped earnings from profit they make doing business.
• If they were successful in building the assets under advice (AUA) at their own firm they could also end up with a business that’s worth a lot of money when they decide to retire.

WHERE CAN I WORK?

Across the UK, average salary varies significantly depending on location, which is something to consider when looking for jobs, whether that’s within the financial advice profession or not.

The great thing about financial advice is that everyone needs it, so you will struggle to find a location where there isn’t an opportunity to provide your service. In London, according to Statistica, salaries are on average 34% higher than the UK average due to the cost of living, so make sure you consider this when weighing up different employment options.

It's also worth considering where you want to work in terms of companies or networks. Across the UK, there are numerous wealth management companies as well as various networks, communities, and self-employment opportunities. Other roles such as paraplanners, support staff and administration roles also have a range of salary expectations depending on similar factors.

Lastly, advisers who are employed typically work from offices with flexible working options and they may also meet with clients outside of the office. Self-employed advisers or business owners are free to organise themselves around the needs of their business and clients.

At Future Financial Adviser our partners each offer a training and qualification route to becoming a financial adviser and can also place you in work at the end of it. Please visit our Develop your career – connect with our partners channel.