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 |
