Who's richer -- the average broker or financial advisor?

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By Jordan Maxwell

According to the study highlighted in the December issue of the magazine, the average financial advisor and mortgage broker each has $39,000 in the bank, but the former averages $510,000 in a personal investment portfolio while the latter levels out at $273,000.

The lifestyle survey was designed to flesh out key details about the average mortgage broker, and now, in its second year, is  comparing that lifestyle to that of another key financial services “salesperson,” the wealth advisor.

The survey, the result of individual polling of hundreds of advisors and brokers, also suggests that financial planners typically work an extra two hours a day for an average of nine hours versus just seven for the typical mortgage broker. The study doesn’t hazard a guess as to what if any impact that has on the size and strength of an advisor's earnings and portfolio relative to his or her brokering counterpart.

The answer may lie in the other salient results of the research. The CMP survey also measured the average time spent on the job and average home equity.

To see more on the lifestyle survey, pick up a copy of December’s Canadian Mortgage Professional Magazine available this week.
 
  • RC in BC on 2014-11-25 5:28:45 PM

    Sorry, but I call BS on this one. No way the average broker or financial adviser has that kind of money invested or most likely in the bank. I would guess the only ones who took the survey were over 50 and very experienced, but definitely not average.

  • Shayne on 2014-11-25 6:21:37 PM

    Without factoring in ages these numbers mean nothing.

  • Gord on 2014-11-26 11:13:17 AM

    Could we get these "articles" edited before they are posted?? Ever heard of spell check?

  • terry synyshyn on 2014-11-26 1:21:30 PM

    As a retired Investment Advisor of 12 years I definitely would agree with you analysis. Not only do I work less hours but more importantly I only have half of the stress in my new career as a mortgage broker...

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