Georgia Financial Planner Salary

From the bustling streets of Atlanta to coastal, historic Savannah, there’s something for everyone in Georgia. As the eighth most populous state in the U.S., there’s a lot to do in this Southern hub, whether it’s hiking the Blue Ridge Mountains or visiting the Martin Luther King, Jr. National Historical Park. Whether you’re a city-dweller or someone who prefers a quiet, rural life, Georgia can be a great place to build your career.

When it comes to state income tax, Georgia joins 31 other states and the District of Columbia in employing graduated-rate income tax. This means that based on your income, you will be taxed between 1% and 5.5% depending on which of six tax brackets you fall into; also, Georgia requires that you specify whether you are filing as a single, or jointly as a married couple. Still, when compared with other states, Georgia’s income tax rates are pretty middle-of-the-road, making it a reasonable place to start your business in financial planning. So, if you’re considering a career or a degree in financial planning and want to understand your earning potential and job opportunities in the state of Georgia, you’re in the right place.

According to the Certified Financial Planner (CFP) Board, there are 2,701 certified financial planners in the Peach State, accounting for 3% of nationwide CFPs. Georgia is ranked 11th on the list of states with the most financial planners; so, while this means that you might have more competition for your business, this also proves that there is a demonstrated need for experts in your field. Plus, the prevalence of financial planners lends itself to networking opportunities with professional peers.

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Of course, it’s also necessary to consider what kinds of services you hope to provide in this booming sector. Some financial advisors charge a fee for their service, regardless of whether they are successful in managing their clients’ money. Other times, advisors offer their service on a commission basis – if your client makes money, you earn a percentage of their earnings, too. Additionally, when you work as a CFP, you must be a fiduciary, which means that you’ll act according to your client’s best interests, not your own.

In 2019, the median household income in Georgia was $58,700, according to the United States Census Bureau. This is slightly lower than the national median of $62,843. Still, given the prevalence of financial services workers in the state, there is a clear need for financial planners.

Keep reading to learn more about your potential salary as a financial planner in Georgia. We have accurate data from the U.S. Bureau of Labor Statistics that covers the earnings of financial advisors, stockbrokers and insurance agents in the varied urban, suburban and rural regions of this Southern state.

Financial Advisor Salary in Georgia

As one might assume, the majority of personal financial advisors reside in populous, metropolitan Atlanta – there are 4,180 personal financial advisors in the Capital, as opposed to just 120 in Savannah.  The annual mean, or average, salary for an advisor in Atlanta is $109,840 – but, in less populous areas like Columbus and Macon, the average salary drops to $71,160 and $80,160 per year, respectively. In the chart below, you can learn more about the estimated hourly wages of personal financial advisors in each region of Georgia; but, remember that advisors rarely charge their clients per hour, and that these figures are not a representation of how professionals price their services for clients.

Area Name
Employment
Annual mean wage
Albany
50
130840
Athens-Clarke County
90
105570
Atlanta-Sandy Springs-Roswell
4180
109840
Columbus
90
71160
Gainesville
30
-
Macon
-
80160
Middle Georgia nonmetropolitan area
60
75900
North Georgia nonmetropolitan area
70
106680
Savannah
120
136580
South Georgia nonmetropolitan area
40
94410

Stockbroker Salary in Georgia

As of data from 2019, there are just under 10,000 stockbrokers across Georgia, with about 8,100 of them living in Atlanta. But, the salaries of stockbrokers vary drastically across the state based on population density, wealth and other factors. Home to the University of Georgia, Athens appears to be the most profitable market for stockbrokers. In this attractive college town, the mean annual salary for stockbrokers is $121,240. This is a significant increase from the Capital city of Atlanta, where the average yearly salary is $82,520. In more rural areas like the non-metropolitan South Georgia region, there are just 180 stockbrokers, who earn an average of $50,290 per year.

Area Name
Employment
Annual mean wage
Athens-Clarke County
170
121240
Atlanta-Sandy Springs-Roswell
8100
82520
Columbus
330
57980
Gainesville
80
61340
Macon
220
-
Middle Georgia nonmetropolitan area
190
60010
North Georgia nonmetropolitan area
70
81730
Savannah
420
65770
South Georgia nonmetropolitan area
180
50290

Life/Annuity Producer Salary in Georgia

Generally, life/annuity producers, or insurance sales agents, make a smaller salary than stockbrokers and financial advisors. Still, depending on where you live and work, you can earn a comparable yearly income. The most profitable place in Georgia to work as a life/annuity producer is in Savannah, where the annual mean salary is $76,980 – but, those in the 90th percentile and above made up to $174,570. So, no matter what region of Georgia you live in, there is a potential to grow your annual salary over time. After Savannah, the cities with the next highest earnings are Albany and Atlanta.

Area Name
Employment
Annual mean wage
Albany
250
66150
Athens-Clarke County
160
43410
Atlanta-Sandy Springs-Roswell
9070
60830
Columbus
450
46250
Gainesville
270
58630
Macon
630
57050
Middle Georgia nonmetropolitan area
420
43620
North Georgia nonmetropolitan area
400
40770
Savannah
540
76980
South Georgia nonmetropolitan area
500
50980

 

(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.)