How They Spend Their Time

Which of the following best describes your job responsibilities?

Respondents Percentage
Client service (answering simple questions, helping with paperwork, communicating with clients) 85 50.3
Client management (taking trade orders, advising clients on investments, developing investment strategies) 61 36.1
Other 22 13
Do you have prospecting or cold calling responsibilities?

Respondents Percentage
Yes 12 7.1
No -- Company uses specialized cold callers 6 3.6
No -- Financial advisors do it 123 72.8
How much time do compliance duties take up?

Respondents Percentage
The vast majority of my time 19 11.2
Half my time 51 30.2
Some of my time 80 47.3
Very little time 17 10.1
Is this more or less than last year?
More 94 55.6
Less 6 3.6
The same 68 40.2
Does your office engage in social media activities (Facebook, LinkedIn, etc.)?

Respondents Percentage
Yes 27 16
No 142 84
If yes, to what extent are you involved in developing/maintaining social media activities?
Very involved/I'm primary contact 7 25.9
Somewhat involved 10 37
Not at all involved 10 37
About how many hours per week do you work?

Respondents Percentage
26-35 hours 5 3
36-40 hours 82 48.5
41-45 hours 65 38.5
46+ hours 21 10.1
Which best describes your involvement in setting business strategies and goals of the financial advisor(s) you work for?

Respondents Percentage
Not involved in/aware of strategies and goals 15 8.9
Aware of strategies and goals but not involved in their development 44 26
I provide some input into goals and strategies 74 43.8
I am an integral part of goal and strategy development 35 20.7

Client Engagement

What percentage of your time is spent talking with clients about how their investments have performed?

Respondents Percentage
60-79% 5 3
40-59% 25 14.8
20-39% 45 26.6
Less than 20% 92 54.4
What percentage of your calls are you able to resolve without the help of an advisor?

Respondents Percentage
80%+ 63 37.3
60-79% 22 13
40-59% 29 17.2
20-39% 17 10.1
Less than 20% 33 19.5

Compensation, More Optimism

Which best describes your firm?

Respondents Percentage
Wirehouse firm (Merrill Lynch, Morgan Stanley Smith Barney, UBS, Wells Fargo Advisors) 64 37.9
National full-service brokerage 39 23.1
Regional full-service brokerage 14 8.3
National independent broker/dealer 18 10.7
Regional independent broker/dealer 7 4.1
RIA, AUM over $1 billion 1 0.6
RIA, AUM under $1 billion 5 3
Financial planning firm 6 3.6
Bank brokerage 8 4.7
Other 6 3.6
What's your bonus based on? (note: some multiple answers)

Respondents Percentage
At the discretion of the advisor 74 43.8
Financial advisor's production 59 34.9
At the discretion of the firm or branch manager 59 34.9
Achievement of preset goals (performance review) 29 17.2
Do not receive bonus 16 9.5
No reply 5 3
Other 4 2.4
How do you expect total compensation (salary and bonus) in 2010 to differ from 2009?

Respondents Percentage
More than in 2009 78 46.2
Same as in 2009 58 34.3
Less than 2009 29 17.2
No reply 4 2.4
2009 total compensation (salary and bonus)

Respondents Percentage
Less than $20,000 2 1.2
$20,000 to $24,999 -- --
$25,000 to $29,999 5 3
$30,000 to $34,999 9 5.3
$35,000 to $39,999 23 13.6
$40,000 to $44,999 25 14.8
$45,000 to $49,999 22 13
$50,000 to $59,999 30 17.8
$60,000 to $69,999 23 13.6
$70,000 to $79,999 12 7.1
$80,000 to $89,999 8 4.7
$90,000 to $99,999 2 1.2
$100,000 to $109,999 4 2.4
$110,000 to $119,999 -- --
$120,000+ 2 1.2
2009 bonuses

Respondents Percentage
None 26 15.4
$1 to $999 16 9.5
$1,000 to $2,499 32 18.9
$2,500 to $4,999 26 15.4
$5,000 to $7,499 19 11.2
$7,500 to $9,999 11 6.5
$10,000 to $14,999 13 7.7
$15,000 to $19,999 6 3.6
$20,000 to $24,999 6 3.6
$25,000+ 13 7.7

An Associate At A Glance

Gender Female (88.2%)
Age 44
Average years of experience 14.1
Jobs held since beginning of career 2.6
2009 average pay (salary+bonus) $53,862
2009 average bonus $6,571