New York

Apr

2014

The 15 Best Paying Cities for Financial Advisers

From the Desk of Jim Eccleston at Eccleston Law Offices:

According to a report from InvestmentNews, the country’s 15 best cities for compensation for lead advisors are listed below.

15. San Antonio, Texas

Total Compensation: $131,186

Base Salary: $107,690

Incentive Pay: $17, 622

Population: $1,327,407

14. Indianapolis, Indiana

Total Compensation: $133,464

Base Salary: $109,560

Incentive Pay: $17,928

Population: 820,445

13. Phoenix, Arizona

Total Compensation: $134,268

Base Salary: $110,220

Incentive Pay: $18,036

Population: 1,445,632

12. Jacksonville, Florida

Total Compensation: $136,144

Base Salary: $111,760

Incentive Pay: $18,288

Population: 821,784

11. Columbus, Ohio

Total Compensation: $136,814

Base Salary: $112,310

Incentive Pay: $18,378

Population: 787,033

10. Austin, Texas

Total Compensation: $138,422

Base Salary: $113,630

Incentive Pay: $18,594

Population: 790,390

9. Dallas, Texas

Total Compensation: $144,050

Base Salary: $118,250

Incentive Pay: $19,350

Population: 1,197,816

8. Philadelphia, Pennsylvania

Total Compensation: $144,318

Base Salary: $118,470

Incentive Pay: $19,386

Population: 1,526,006

7. Houston, Texas

Total Compensation: $145,256

Base Salary: $119,240

Incentive Pay: $19,512

Population: 2,100,263

6. Chicago, Illinois

Total Compensation: $147,266

Base Salary: $120,890

Incentive Pay: $19,782

Population: 2,695,598

5. San Diego, California

Total Compensation: $149,410

Base Salary: $122,650

Incentive Pay: $20,070

Population: 1,307,402

4. Los Angeles, California

Total Compensation: $156,110

Base Salary: $128,150

Incentive Pay: $20,970

Population: 3,792,621

3. New York, New York

Total Compensation: $167,366

Base Salary: $137,390

Incentive Pay: $22,482

Population: 8,175,133

2. San Francisco, California

Total Compensation: $168,840

Base Salary: $138,600

Incentive Pay: $22,680

Population: 805,235

1. San Jose, California

Total Compensation: $171,922

Base Salary: $141,130

Incentive Pay: $23,094

Population: 945,942

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Oct

2013

Jim Eccleston: Morgan Stanley Suffers Big Asset Loss

From the Desk of Jim Eccleston at Eccleston Law:

The nation’s largest brokerage by adviser head count, Morgan Stanley Wealth Management, lost $8.4 billion in client assets during the third quarter, as some of its major producers took their business to competing firms. In the three-month period ended September 30, 2013, the average assets under management of advisers who moved also jumped nearly 25% from the previous year, to $402.2 million. Generally speaking, adviser movement with small books of businesses is not tracked by the data, and advisers do not necessarily take all of their business to the new firm.

Four of the 10 largest departures from Morgan Stanley in the third quarter were to other wirehouses. Three teams managing $7.9 billion in assets moved to UBS Financial Services Inc., while a $1 billion team in the New York area switched to Wells Fargo Advisors LLC.Morgan Stanley did add some major advisers last quarter. However, high-profile losses appeared to offset Morgan Stanley’s recruitment successes last quarter.

Given that Morgan Stanley had 16,321 advisers and $1.8 trillion in assets at the end of the second quarter, according to the company’s regulatory filings, it still is the largest wirehouse by advisers and the second largest by assets.

The attorneys of Eccleston Law represent investors and advisers nationwide in securities and employment matters.