Your experience isn't that different to mine about 10 years ago.
In the last 2 years of my FP degree (I started studying Accounting, but decided after the first year I wanted to do FP), I worked at an FP arm of an accounting firm. It took a lot for me to get that position - I started on $35k, just so I could get an opportunity. Back then, my employer didn't even understand how my qualification was sufficient to meet RG146 (it was the norm to do a DFP then - probably should have been a warning sign). My job was admin/paraplanning, and so when I was finally finished my degree, I was excited that I might already have my foot in the door. I requested, bargained, pleaded away to get an opportunity to do some proper FP work and become an AR (and hopefully make some alright money), and kept getting pushed back - the FP boss told me this wouldn't be available until I was 'absolutely perfect in my role' (mind you, had helped him realise and fix plenty of his own mistakes).
So I left. I hopped around a couple places until I found somewhere willing to give me a go. 8 years on and I've finally found the place where I intend to stay.
All that to say, this industry has been tough for a long time, at least as long as I know of. A lot of competing egos, more empty promises than I can count, and every excuse under the sun to drag you down. These are the times it sucks, and I'm sure I could have made a lot more money in the meantime doing something else. I've finally started making the kind of money I should be making, and now have a pathway ahead to make more, and improve the lifestyle of my family.
So, bunker down if you plan on continuing down this road. There will be a lot of bumps on the way, but there are some good times as well - arguably, these might be much rarer than they used to be (I could be talking out of pocket there). It's easier to get out early, but it's up to you if it's too late to change. My advice would be to grow a thick skin as quick as possible, and be prepared to cop some filth, but stay strong mentally and you will overcome with time and perseverance.
Best of luck mate