Whether you are thinking of changing firms or just keeping an eye on the market, it is always good to know where you could maximize your take-home pay. With that in mind, here are the firms where you can get the best pay as a $1m producer. It is important to note that these are pretty bullish times for the industry given high market pricing and how that inflates fee income. Additionally, the totals shown have assumptions in them, for example an average balance of AUM across asset classes, length of service at 10 years etc. Here they are: Merrill Lynch, $485,000; UBS, $475,000, Wells Fargo, $472,325; Morgan Stanley, $445,000; Edward Jones, $543,350; Stifel, $514,000; Janney, $510,000; Raymond James $493,000.
FINSUM: The advantage of being at an independent really sinks in when you see these stats. There is nearly a full $100,000 spread between Ed Jones’ payout and Morgan Stanley’s at the same production level.