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Wealth Associate Salary information

What is the average salary for a Wealth Associate?

The average salary for a Wealth Associate in the United States typically ranges from $55,000 to $85,000 per year, depending on factors such as location, experience, and the size of the firm. Entry-level Wealth Associates may start at the lower end of this range, while those with several years of experience or working in major financial centers can earn higher salaries. In addition to base pay, Wealth Associates may receive bonuses and benefits, which can significantly increase total compensation.

What are some common challenges Wealth Associates face when supporting financial advisors and clients?

Wealth Associates often juggle multiple tasks such as preparing client reports, handling account paperwork, and responding to client inquiries, all while maintaining a high level of accuracy and confidentiality. One common challenge is managing competing priorities during busy periods, especially around tax season or major market events. Additionally, Wealth Associates must stay up to date with compliance regulations and adapt quickly to changes in financial products and technology. Collaboration with advisors, operations teams, and clients requires excellent communication skills and attention to detail.

What are the key skills and qualifications needed to thrive as a Wealth Associate, and why are they important?

To thrive as a Wealth Associate, you need a solid background in finance or economics, strong analytical skills, and a bachelor’s degree in a related field. Familiarity with CRM software, financial planning tools, and relevant certifications such as Series 7 or 66 is highly beneficial. Excellent interpersonal skills, attention to detail, and effective communication help build client trust and foster strong relationships. These skills are essential for delivering tailored financial solutions and ensuring client satisfaction in a competitive wealth management environment.

What is the difference between Wealth Associate Salary vs Financial Advisor Salary?

AspectWealth Associate SalaryFinancial Advisor Salary
Required CredentialsTypically a bachelor's degree; certifications like CFP or Series 7 are commonOften requires CFP, Series 7, and other licenses
Work EnvironmentFinancial firms, banks, or investment companiesIndependent or firm-based, client-facing roles in financial planning
Employer & Industry UsageUsed in banking and wealth management firmsUsed across financial planning, investment advisory, and wealth management

Wealth Associate salaries generally involve supporting senior staff and preparing client portfolios, while Financial Advisors directly manage client relationships and provide personalized financial planning. Both roles require similar credentials and work in related environments, but Financial Advisors typically have higher earning potential due to client-facing responsibilities.

What do wealth associates do?

Wealth associates assist financial advisors and clients by preparing financial plans, analyzing investment portfolios, and providing client service. They often use financial planning software and require strong communication and organizational skills to support wealth management activities.

What are popular job titles related to Wealth Associate Salary jobs in Indiana?

For Wealth Associate Salary jobs in Indiana, the most frequently searched job titles are:

What job categories do people searching Wealth Associate Salary jobs in Indiana look for?

The top searched job categories for Wealth Associate Salary jobs in Indiana are:

What cities in Indiana are hiring for Wealth Associate Salary jobs?

Cities in Indiana with the most Wealth Associate Salary job openings:

Wealth Associate Salary jobs near you

Private Wealth Advisor, Assoc

Old National Bank

Terre Haute, IN • On-site

$42K - $48K/yr

Full-time

Medical, Dental, Vision, Retirement

Re-posted 5 days ago

Old National Bank rating

8.2

Company rating: 8.2 out of 10

Based on 39 frontline employees who took The Breakroom Quiz

51st of 173 rated banks

Job description

Overview
Old National Bank has been serving clients and communities since 1834. With over $70 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving.
We continually seek highly motivated and talented individuals as our people are critical to our success. In return, we offer competitive compensation with our salary and incentive program, in addition to medical, dental, and vision insurance. 401K, continuing education opportunities and an employee assistance program are also included in our benefit suite. Old National also offers a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization. We offer a unique opportunity to join a growing, community and client-focused company that is firmly rooted in its core values.
Responsibilities
We are currently seeking an Associate Private Wealth Advisor to join a fast-growing team of Senior Wealth Advisors. The candidate will be expected to develop new client relationships and help cultivate existing ones. They will provide sound financial advice, make investment recommendations, and create, present, and help implement client's goal-based financial plans. They may also collaborate with specialists within the Wealth Group, and are responsible for engaging other specialists, including Private Bankers, Trust Officers, RPS Administrators, and Philanthropy Officers, as appropriate.
Salary Range
The salary range for this position is $42,000 - $48,000 / plus commision per year. Final salary will be determined based on factors such as location, experience, skills and qualifications.
Key Accountabilities
Manage a portfolio of client relationships:
  • Including, but not limited to regular client meetings to review and update client goals, financial information, and investments.
  • Assess client's risk tolerance and return goals and construct an investment portfolio designed to meet these goals.
  • Construct, rebalance and modify client investment portfolios based on changing client circumstances, cash needs, changes in risk tolerance, and/or market conditions.

Provide Advice to clients through Financial Planning:
  • Be able to prepare a financial plan to address the client's personal goals and objectives while collaborating with our dedicated financial planning team as needed.

Prospect and develop new wealth business opportunities:
  • Foster productive relationships with Consumer and Commercial business partners.
  • Work closely with Private Bankers to deliver a team-based approach to developing and expanding wallet share with existing and prospective wealth relationships.
  • Develop partnerships with centers of influence outside of the bank.

Maintain an in-depth knowledge of economic and financial conditions appropriate to advise clients throughout the business cycle:
  • Consistently researching and developing subject matter expertise to consult clients appropriately.
  • Maintain knowledge of current developments and trends in all relevant technical/professional knowledge area.
  • Understands the industry and the factors that affect company performance, uses industry knowledge in planning and decision-making.

Key Competencies for Position
  • Client Leadership - Puts the client at the forefront of everything they do; continually seeks first-hand client information and perspective and uses this insight to shape one's own behaviors and actions to delight and engage internal and external clients; makes and maintains long-term relationships with clients.
  • Planning and Organization - Ability to determine a course of action, set and manage priorities, and ensure optimal resources to achieve individual and/or team objectives.
  • Technical Knowledge - Processes the required technical knowledge to perform the role effectively; continuous learning to adopt new trends or expertise.
  • Collaboration - Actively seeks, develops, and maintains trusted relationships with others to achieve business goals and objectives.
  • Communication - Effectively shares information and ideas with individuals and groups; displays self-awareness and self-management, tailors the delivery to the audience and selects suitable delivery methods.
  • Client Service - Provide impeccable service to create a superior client experience.

Qualifications and Education Requirements
  • Bachelor's degree in Finance, Business, or related field, preferred.
  • 3 years of retail or institutional wealth/investment experience preferred.
  • Must possess strong relationship building skills including verbal and written communication skills.
  • Working knowledge of investment markets, products and services and the ability to implement investment strategies to meet client needs and goals.
  • Must possess excellent sales and closing skills.
  • Series 6 or 7 licenses to sell brokerage products.
  • State Life and Health Insurance Licenses, preferred.
  • CFP, MBA, or Professional designation(s) preferred.
  • Ability to build and develop a robust sale pipeline.

Old National is proud to be an equal opportunity employer focused on fostering an inclusive workplace and committed to hiring a workforce comprised of diverse backgrounds, cultures and thinking styles.
As such, all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with disability, sexual orientation, gender identity or any other characteristic protected by law.
We do not accept resumes from external staffing agencies or independent recruiters for any of our openings unless we have an agreement signed by the Director of Talent Acquisition, SVP, to fill a specific position.
Our culture is firmly rooted in our core values. We are optimistic. We are collaborative. We are inclusive. We are agile. We are ethical.
We are Old National Bank. Join our team!

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