Advice salaries see $50k uplift amid talent shortage
As organic growth becomes increasingly challenging amid a stagnated profession, Kaizen Recruitment’s latest salary report has revealed advice firms are increasing base salaries to attract talent, particularly targeting advisers with a portable book of clients.
Kaizen’s 2026 Wealth Management Salary Guide revealed that the desire for autonomy and long-term career growth, as well as the ongoing talent shortage, means a smaller pool of suitable candidates for employed roles.
This has led practices to push up their salary offerings and their incentives in order to attract experienced professionals.
Notably, the report said the talent pool has become particularly “thin” among advisers with portable client books, strong client servicing or paraplanning backgrounds as mid-to-senior professionals with diverse advice experience and quality client books continue to exit the profession.
The report said: “There remains a strong demand for financial advisers with a portable book of clients, as these individuals can generate immediate revenue. Attracting such advisers is challenging, as it’s more lucrative for them to go independent.
“To secure them, firms must offer competitive base salaries, compelling incentive structures, and equity participation. Businesses may also consider hiring advisers without a book, providing growth opportunities and a pathway to scale.”
Padua Wealth Data typical reports around 15 new entrants a week but Kaizen said junior advisers tend to lack the depth of experience needed to meet the rising demand for holistic advice.
The combination of a stagnated profession and high demand for service has seen the value of advisers’ skills increase, and, as a result, the report found that firms have increased their base salaries by $20,000-$50,000, depending on role and experience.
|
Role |
Years of experience |
Typical salary range (inclusive of super) |
|
Senior financial planner |
6+ as an adviser |
$160,000-$200,000 |
|
Financial adviser |
1-6 as an adviser |
$120,000-$160,000 |
|
Senior paraplanner |
5+ |
$100,000-$130,000 |
|
Paraplanner |
1-5 |
$80,000-$110,000 |
|
Associate adviser (senior/PY) |
2-3 as an associate |
$90,000-$110,000 |
|
Associate adviser (junior) |
2-3 as CSO/associate |
$75,000-$90,000 |
|
Senior client services officer |
4+ |
$80,000-$95,000 |
|
Senior client services officer |
1-4 |
$70,000-$80,000 |
Source: Kaizen Recruitment
Beyond salaries, businesses are also utilising incentives to attract talent. For boutique or holistic firm, short-term incentives typically revolve around client retention or client growth, while larger firms tend to offer incentives based on revenue generation.
In order to retain talent, practices also tend to offer partner or principal positions at the business, with Kaizen noting demand for long-term incentives is growing within boutique advice practices.
Despite advisers’ increasingly calling for equity offerings from employers, the report found that this isn’t something that is frequently offered, while firms that do so may have an easier time attracting high-value talent, such as those with portable client books.
The growing demand for advice has also seen superannuation funds step up their activities in the advice industry, with the report stating that super funds increasing their advisory capacity can enhance member engagement, improve financial outcomes and strengthen compliance, while the member-first advice focus and attract salaries can prove appealing to some adviser.
|
Role |
Years of experience
|
Typical salary range (inclusive of super) |
|
Intra-fund financial adviser |
2-5 years |
$115,000-$170,000 |
|
Financial adviser – limited advice |
3-5 years |
$140,000-$175,000 |
|
Financial adviser – comprehensive advice |
4-7 years |
$175,000-$190,000 |
Source: Kaizen Recruitment
Although salaries are typically somewhat lower than the broader advice market, Kaizen suggested that it could still be an attractive option for advisers who have faced a salary cut or desire a “more predictable work environment”.
AUTHOR
Shy-Ann Arkinstall
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