Florida Financial Planner Salary

Florida is one of the most prosperous and economically active states in the United States, and the state’s prosperity and high per-capita income make it an excellent place for a financial advisor to work and live. It is also one of the cultural and sporting centers of the country and indeed, the world; all of this makes it a desirable place to live and work for the thousands of financial planners that call it home.

There are 6,023 CFPs in the state of Florida, according to the Certified Financial Planner (CFP) Board. They represent about 6.8 % of the total number of certified financial planners in the country, reflective of its population size and economic centrality. To be recognized by the CFP board and therefore become a certified professional, a financial advisor must first become a fiduciary. A fiduciary is legally bound to act based on their clients’ best interests, as opposed to working for commissions, or making a living by the sale of products and services.

Therefore, an aspiring financial planner has two career paths before them-fee-based advising or commission-based advising. Fee-based advisors make their living through a pre-stated fee for their services rendered to their clients. This fee usually consists of a flat retainer, and/or an hourly rate for investment advice and other services. Instead, a commission-based advisor makes a living by earning commission on the sales of financial products or services to clients.

If you are interested in how wages for financial advisors, stockbrokers and insurance agents vary across different regions of Florida, you have come to the right place. We have compiled data on the salaries of financial advisors, stockbrokers and insurance agents in Florida, across its various metropolitan and non-metropolitan regions. This data has been acquired from the U.S. Bureau of Labor Statistics and is visible below.

Financial Advisor Salary in Florida

Here, we have data collected by the Bureau of Labor Statistics in 2019 on the financial advisors in all of Florida’s surveyed metropolitan and non-metropolitan areas. The Miami-Fort Lauderdale-West Palm Beach area is home to most of them, 6,150 financial advisors. The Tampa-St. Petersburg-Clearwater area comes second and is home to 2,590.

Of the data available, North Port-Sarasota-Bradenton has the highest hourly mean wage of $81.14, followed by the Villages, where it is $71.02. Major cities Miami, Orlando and Jacksonville have hourly mean wages of about $55. The hourly median is also highest in the North Port-Sarasota-Bradenton area, at $83.95, significantly higher than the Villages area, which is in second place with an hourly median wage of $50.79.

Area Name
Employment
Annual mean wage
Cape Coral-Fort Myers
260
115580
Crestview-Fort Walton Beach-Destin
130
65740
Deltona-Daytona Beach-Ormond Beach
230
75710
Gainesville
50
-
Jacksonville
2010
109080
Lakeland-Winter Haven
160
-
Miami-Fort Lauderdale-West Palm Beach
6150
118230
Naples-Immokalee-Marco Island
440
128060
North Port-Sarasota-Bradenton
760
168760
Ocala
210
50050
Orlando-Kissimmee-Sanford
1520
116630
Palm Bay-Melbourne-Titusville
280
-
Panama City
40
143000
Pensacola-Ferry Pass-Brent
150
88660
Port St. Lucie
140
137050
Punta Gorda
90
86840
Sebastian-Vero Beach
120
90710
Sebring
50
-
South Florida nonmetropolitan area
-
53090
Tallahassee
100
-
Tampa-St. Petersburg-Clearwater
2590
97690
The Villages
90
147710

Stockbroker Salary in Florida

The Miami-Fort Lauderdale-West Palm Beach area contains 12,540 stockbrokers, the most of all the recorded areas in the state. Tampa-St. Petersburg-Clearwater is home to 5,110, while Orlando-Kissimmee-Sanford and Jacksonville contain 3,310 and 2,700 professionals in the field, respectively. The hourly mean wage is highest in Naples-Immokalee-Marco Island, at $45.76. The Villages follow close behind with an hourly mean wage of $45.69. Miami is in third place with $42.41 as its hourly mean wage.

The hourly median wage is highest in Tallahassee, at $31.98, and is almost the same at $31.61 in the Miami-Fort Lauderdale-West Palm Beach area.

The 90th percentile wage is highest in the Naples-Immokalee-Marco Island, out of the recorded data. The 75th percentile wage is also highest in the Naples-Immokalee-Marco, followed by Miami-Fort Lauderdale-West Palm Beach.

Area Name
Employment
Annual mean wage
Cape Coral-Fort Myers
610
61980
Crestview-Fort Walton Beach-Destin
370
80180
Deltona-Daytona Beach-Ormond Beach
540
61610
Gainesville
210
57460
Jacksonville
2700
74390
Lakeland-Winter Haven
460
75670
Miami-Fort Lauderdale-West Palm Beach
12540
88220
Naples-Immokalee-Marco Island
510
95190
North Port-Sarasota-Bradenton
730
78120
Ocala
200
61180
Orlando-Kissimmee-Sanford
3310
66970
Palm Bay-Melbourne-Titusville
590
55080
Panama City
110
74510
Pensacola-Ferry Pass-Brent
410
67020
Port St. Lucie
400
53470
Punta Gorda
70
70230
Sebastian-Vero Beach
230
51360
South Florida nonmetropolitan area
-
62520
Tallahassee
200
86600
Tampa-St. Petersburg-Clearwater
5110
75640
The Villages
140
95020

Life/Annuity Producer Salary in Florida

The Miami-Fort Lauderdale-West Palm Beach contains 10,620 life/annuity producers, the most in the state. Tampa-St. Petersburg-Clearwater has 7,320 professionals, while the Orlando-Kissimmee-Sanford area has 4,300.

The hourly mean wage is highest in the South Florida non-metropolitan area, home to only 70 professionals, where it is $35.70. The hourly median wage is also higher in the South Florida non-metropolitan area, at $36.46. The North Port-Sarasota-Bradenton area is home to 920 professionals and has an hourly median wage of $26.80.

Area Name
Employment
Annual mean wage
Cape Coral-Fort Myers
830
59870
Crestview-Fort Walton Beach-Destin
350
48760
Deltona-Daytona Beach-Ormond Beach
600
49940
Gainesville
240
59090
Jacksonville
1840
62470
Lakeland-Winter Haven
1000
53850
Miami-Fort Lauderdale-West Palm Beach
10620
62340
Naples-Immokalee-Marco Island
710
53770
North Port-Sarasota-Bradenton
920
63140
Ocala
300
45180
Orlando-Kissimmee-Sanford
4300
59800
Palm Bay-Melbourne-Titusville
720
60060
Panama City
190
65460
Pensacola-Ferry Pass-Brent
390
66660
Port St. Lucie
450
61490
Punta Gorda
200
45830
Sebastian-Vero Beach
240
69420
Sebring
70
55190
South Florida nonmetropolitan area
70
74250
Tallahassee
560
54410
Tampa-St. Petersburg-Clearwater
7320
64970
The Villages
30
43980

 

(Salary and job growth data reported by the U.S. Bureau of Labor Statistics in May 2019 for personal financial advisors; securities, commodities and financial services sales agents; and insurance sales agents. Figures represent national data, not school-specific information. Conditions in your area may vary. Information accessed February 2021.)