WA planners buck flat salary trend
Financialplanners and paraplanners based in Western Australia have emerged victors in the national salary growth stakes.
According to this year’sHays PersonnelRecruitment and Salary Survey, Western Australian planners are the only planners in the country to have experienced an increase in salaries over the past 12 months.
In fact, Perth’s planning market has boomed over the last year, with a stand out increase being junior paraplanners receiving a $13,000 pay increase to $38,000.
Senior paraplanners based in Perth experienced a $5,000 increase, moving their annual income to $48,000. Fully qualified financial planners received an increase of $7,000 shooting their income upwards to $70,000, while the salary of Perth-based financial advisers still studying their DFP dropped by $2,000 to $48,000.
By comparison, the salary of fully qualified financial planners in Sydney and Melbourne remained flat in the past 12 months at $75,000 and $70,000 respectively. The salaries of fully qualified planners in Brisbane ($70,000), Adelaide ($60,000) and Canberra ($60,000) also did not rise over the year.
The survey has also found the pay levels for those working in the funds management side of the industry also did not rise in the last 12 months.
According to the survey, a typical portfolio manager working in Sydney earns $85,000 a year, while managers working in Melbourne, Brisbane and Adelaide earn $70,000 a year and those in Perth earn $65,000 per annum. All figures were unchanged from the previous year.
The survey also found a general manager within a funds management group earns $130,000 if they are based in Sydney, $120,000 if they are in Melbourne or Brisbane and $110,000 if they are in Adelaide or Perth.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
