The Salary of an Ameriprise Financial Advisor | eHow
Ameriprise's financial advisors earn their salaries in three different ways according to the company. Twenty-five percent are employees of Ameriprise, earning a base salary plus commission and benefits. Sixty percent are franchisee advisors. They are not employees and receive no base salary or benefits. Fifteen percent are associates who work for independent franchisees and receive their compensation from their employers. While Ameriprise does not release any salary figures, the information is found on several job-search sites that calculate the amounts from its nationwide listings.
According to Simply Hired, the average annual salary for an Ameriprise financial advisor is $57,000, as of the time of publication. This figure does not include any benefit figures, and represents an average of all job postings. The figure includes commission estimates as well as base salaries. Simply Hired, a comprehensive job-search database that claims to have more than 5 million listings, states that "this salary was calculated using the average salary for all jobs with the term 'financial advisor ameriprise financial' anywhere in the job listing."
Ameriprise's financial advisors may expect to earn a wide range of salaries, according to Glassdoor.com, which bases its figures on data
reported to it anonymously by employees or former employees. As of the time of publication, the low end for total compensation starts at $27,000 and ranges up to $90,000. The wide range results from the fact that the advisors earn commissions and bonuses that can range from $300 to $45,000. According to Ameriprise, experienced advisors move from a base-plus-commission structure to full commission.
Ameriprise employees can get insurance to cover medical, dental, vision and prescription expenses, according to the benefits and compensation packages listed on the firm's job-search page. Employees also have access to life insurance and disability insurance, can receive child care discounts, and may participate in the Ameriprise 401(k) program.
According to Glass Door, Ameriprise financial advisors with four to six years of experience earn salaries in a range that goes up to $90,000, while those with ten years of experience have a top salary range of only $75,000. Because the nature of the work involves sales, this discrepancy may be due to a tapering off of activity among older workers. Ameriprise points out that their compensation structure allows advisors to earn at any level they choose.