The average financial advisor salary in Canada is $60,000-$120,000 per year. This guide breaks down advisor pay by province, credentials, and compensation model.
Table of Contents
Financial Advisor Salary by Province
Province
Entry Level
Experienced
Top Advisors
Ontario
$55,000
$100,000
$250,000+
British Columbia
$52,000
$95,000
$240,000+
Alberta
$58,000
$105,000
$260,000+
Quebec
$48,000
$85,000
$200,000+
Saskatchewan
$50,000
$88,000
$180,000+
Manitoba
$48,000
$85,000
$175,000+
Nova Scotia
$45,000
$78,000
$160,000+
New Brunswick
$42,000
$75,000
$150,000+
Newfoundland
$45,000
$80,000
$165,000+
PEI
$40,000
$72,000
$140,000+
Salary by Experience Level
Experience
Total Compensation
Trainee (0-2 years)
$40,000-$60,000
Established (2-5 years)
$60,000-$100,000
Experienced (5-10 years)
$100,000-$150,000
Senior (10+ years)
$150,000-$300,000
Top Producers
$300,000-$1,000,000+
Salary by Employer Type
Employer
Compensation Range
Big 5 Banks
$60,000-$120,000
Insurance Companies
$50,000-$150,000
Independent Dealer
$70,000-$200,000+
Wealth Management Firm
$80,000-$250,000+
Fee-Only Practice
$80,000-$180,000
Private Bank/Family Office
$100,000-$300,000+
Compensation Models
Model
Structure
Typical Earnings
Salary + Bonus
Fixed + performance
$70,000-$120,000
Commission-based
% of sales/AUM
$50,000-$300,000
Fee-only
Hourly/flat fee
$80,000-$180,000
AUM-based (1%)
% of assets managed
Varies with book
Hybrid
Salary + commission
$60,000-$200,000
Salary by Credentials
Credential
Salary Premium
Mutual Fund Licensed (MFDA)
Baseline
Securities Licensed (CIRO)
+10-20%
CFP (Certified Financial Planner)
+15-25%
CIM (Chartered Investment Manager)
+10-20%
CFA (Chartered Financial Analyst)
+20-35%
PFP + CLU + multiple
+25-40%
Take-Home Pay (Ontario Example)
Gross Compensation
Annual Take-Home
Monthly Net
$80,000
$60,500
$5,040
$120,000
$84,500
$7,040
$200,000
$127,000
$10,580
Building a Book of Business
AUM Level
Annual Revenue (1%)
Advisor Share (40-60%)
$10M
$100,000
$40,000-$60,000
$25M
$250,000
$100,000-$150,000
$50M
$500,000
$200,000-$300,000
$100M
$1,000,000
$400,000-$600,000
Career Path Timeline
Milestone
Timeline
Typical Earnings
Licensing
3-6 months
Training salary
Building book
Years 1-3
$50,000-$80,000
Established advisor
Years 3-7
$80,000-$150,000
Senior advisor
Years 7-15
$150,000-$300,000
Book sale/succession
Year 20+
$500K-$2M+ (one-time)
Is Financial Advising a Good Career in Canada?
Pros:
High income potential (no ceiling)
Build equity in your book of business
Flexible schedule (established advisors)
Help people achieve financial goals
Recession-resistant (people always need advice)
Cons:
Difficult first 3-5 years (low income)
Heavy sales pressure at some firms
Regulatory compliance burden
Client acquisition is challenging
Market volatility affects income