What wirehouses, regional brokerages, independent broker-dealers and RIAs pay financial advisors, with every figure linked to its source.
Payout details for 29 firms, grouped by channel. Wirehouse and regional grids pay employee advisors a share of the revenue they produce; independent broker-dealers pay contractors most of their revenue but leave them to cover their own costs; RIAs mostly pay salary, revenue share or equity. Firms change grids every year, so each line says when it was reported.
Wirehouses
Employee advisors paid on a cash grid that rises with production, plus deferred awards.
For 2026, Merrill left its standard cash grid of 34% to 51% unchanged, AdvisorHub reported on Sept. 25, 2025. AdvisorHub, Sep 2025
The 2026 plan doubled the small-household threshold to $500,000: advisors earn a reduced 20% payout on households with $250,000 to $500,000 and nothing on households under $250,000, a $250,000 cutoff the firm had used since 2012, AdvisorHub reported on Sept. 25, 2025. AdvisorHub, Sep 2025
Recruiting deals
Merrill offered top producers and teams with $5 million or more in annual revenue recruiting deals worth up to 400% of trailing-12-month revenue, with up to 250% paid upfront and the rest tied to growth and asset-transfer targets, plus a nine-year commitment, AdvisorHub reported on Dec. 5, 2023, citing recruiters. AdvisorHub, Dec 2023
Merrill's 2022 veteran-recruiting offer had been about 325% of trailing-12 production, AdvisorHub reported in October 2022. AdvisorHub, Oct 2022
For 2027, Morgan Stanley will raise the revenue thresholds advisors must hit to reach each payout rate by 10% across the board, the first threshold increase since 2024, ThinkAdvisor reported on Sept. 23, 2026. ThinkAdvisor, Sep 2026
The grid's payout rates are unchanged for 2027, ranging from 28% for the lowest producers to 55.5% for the highest; under the current grid a $1 million producer keeps 44% and a $2 million producer 48%, according to Financial Planning's September 2026 report. Financial Planning, Sep 2026
Also starting in 2027, the Advisor Legacy retirement program's payout bonus rises to 17 percentage points for advisors with 30 or more years at the firm, up from 15 points for those with 25 or more years, Financial Planning reported in September 2026. Financial Planning, Sep 2026
Under the 2026 plan, announced Sept. 18, 2025, Morgan Stanley roughly halved the share of advisor pay it defers, shifting more pay into upfront cash while leaving the grid unchanged, AdvisorHub reported. AdvisorHub, Sep 2025
Recruiting deals
Morgan Stanley's balance of forgivable recruiting and retention loans to advisors rose 12% to nearly $4.9 billion at year-end 2025, with loans typically amortizing over nine to 12 years, AdvisorHub reported on Feb. 20, 2026, citing the firm's annual report. AdvisorHub, Feb 2026
For 2027, UBS is leaving its payout grid unchanged, its first year without grid changes after two years of revisions, and is instead making growth awards for net new money and new client relationships easier to earn, AdvisorHub and Financial Planning reported on Sept. 23, 2026. AdvisorHub, Sep 2026
Under the 2026 plan, unveiled Sept. 16, 2025, UBS raised the top grid rate to 60% for individual producers generating $20 million or more and dropped the length-of-service requirement, up from a prior top rate of 59.5% for $10 million producers with 20 years of service, AdvisorHub reported. AdvisorHub, Sep 2025
The 2026 plan also lifted payouts by half a percentage point for advisors producing $1 million to $3 million, moving a $1 million producer from 49% to 49.5%, AdvisorHub and InvestmentNews reported in September 2025. AdvisorHub, Sep 2025
For 2027, UBS added a growth bonus to its Pathways retention program, paying an extra 25% of trailing-12-month revenue to advisors with at least 10 years at the firm and above-average net new asset growth, repayable if they leave, AdvisorHub reported on Sept. 23, 2026. AdvisorHub, Sep 2026
Recruiting deals
In March 2026 UBS began offering recruiting packages worth up to 550% of trailing-12-month revenue to advisors and teams producing about $7 million or more, with roughly 250% upfront, the rest tied to performance, and a 16-year commitment, AdvisorHub reported on March 24, 2026, citing sources; the prior industry high was about 435% over 12 years. AdvisorHub, Mar 2026
For 2026, Wells Fargo Advisors left its core grid unchanged: advisors keep a $13,500 monthly production hurdle with a 50% payout on revenue above it, thresholds that have held for five years, InvestmentNews and AdvisorHub reported in October 2025. InvestmentNews, Oct 2025
Under the 2025 grid, which carried into 2026, the below-hurdle rate was 22%, and advisors with eight or more years of experience producing under $300,000 a year were paid 15% below the hurdle and 30% above it, The Wealth Advisor reported. The Wealth Advisor, Oct 2025
The 2026 plan, announced in October 2025, added recurring trail payouts on clients' checking balances, higher credits for annuity business and richer pay on multigenerational households with at least $5 million in assets, ThinkAdvisor reported on Oct. 21, 2025. ThinkAdvisor, Oct 2025
Recruiting deals
Wells Fargo's recruiting deals can reach 400% of an advisor's trailing-12-month revenue, a figure that includes upfront cash plus deferred bonuses tied to asset-transfer hurdles, then-wealth chief Barry Sommers indicated, AdvisorHub reported on Sept. 19, 2023. AdvisorHub, Sep 2023
An Edward Jones client disclosure dated July 2022 says advisors generally receive 36% to 40% of the revenue the firm earns from client accounts, with lower payouts possible for less tenured advisors. Edward Jones, Jul 2022
Recruiting deals
As of October 2026, Edward Jones's careers site describes a transition package for experienced advisors of at least two times trailing-12-month production, paid over the first two years with no forgivable loans, for advisors with at least $30 million in assets and $250,000 in annual gross production. Edward Jones
Janney pays an advisor producing $1 million about $460,000 in 2026, down from $500,000 a year earlier, and pays less than the other firms in Financial Planning's 2026 pay survey at the $400,000, $600,000 and $1 million production levels, according to Financial Planning (April 2026). Financial Planning, Apr 2026
Raymond James's AdvisorChoice brochure, as posted on the firm's site in October 2026 (the document itself is undated), says independent contractors at RJFS receive an 81% to 90% payout, set by the branch's total trailing-12-month production, with net payout depending on branch expenses. Raymond James
Recruiting deals
Raymond James said that in its fiscal third quarter ended June 30, 2026, it recruited advisors into its domestic employee and independent channels with $156 million of trailing-12-month production and nearly $23 billion of client assets, bringing the fiscal year-to-date total to $393 million of production. Raymond James Financial, Jul 2026
Loans to financial advisors, which the firm uses for recruiting and retention, stood at $1.77 billion (net) on Dec. 31, 2025, up from $1.63 billion on Sept. 30, 2025, according to Raymond James's 10-Q filed Feb. 6, 2026. Raymond James Financial (Form 10-Q), Feb 2026
For 2024, Stifel raised the monthly production threshold on its grid to $15,000 from $12,000 (advisors had kept about 25% of revenue below the threshold and 50% above it), a change Financial Planning estimated would cut cash pay by about $9,000 for advisors with steady monthly revenue. Financial Planning, Jan 2024
Financial Planning estimated in its 2024 pay review that a $400,000 producer at Stifel would take home about $155,000 under that grid, a reduction of more than 5% from the prior year. Financial Planning, Jan 2024
Commonwealth advisors who move to LPL's corporate RIA after the conversion would keep more than 90% of the revenue they generate, with LPL taking a small administration and compliance fee, according to sources cited by AltsWire on June 25, 2025. AltsWire, Jun 2025
Recruiting deals
LPL offered Commonwealth advisors personalized retention bonuses of up to 50 basis points on their assets under management, depending on individual circumstances, Barron's reported on May 22, 2025. Barron's, May 2025
LPL's retention offers were structured as forgivable loans with an eight-year lockup and added 50 basis points on net new client assets for 12 to 24 months after conversion, according to sources cited by AltsWire on June 25, 2025. AltsWire, Jun 2025
LPL reported a production-based payout rate (advisory and commission expense, adjusted for advisor deferred compensation, as a share of advisory and commission revenue) of 87.44% for the second quarter of 2026, compared with 87.33% a year earlier, per its Q2 2026 results released July 30, 2026. LPL Financial, Jul 2026
On its Q2 2026 earnings call (July 30, 2026), management said it expected the payout rate to rise about 80 basis points in the third quarter, partly because of advisory platform pricing reductions effective July 1, 2026. The Motley Fool, Aug 2026
Recruiting deals
After announcing the Commonwealth deal, LPL reportedly offered Commonwealth advisors retention packages of 10 to 50 basis points on assets, paid as promissory notes of seven to 10 years, according to recruiters cited by WealthManagement.com on April 10, 2025. WealthManagement.com, Apr 2025
About 110 Allworth advisors owned equity in the firm as of October 2024, according to WealthManagement.com; no salary, bonus or revenue-share figures were found. WealthManagement.com, Oct 2024
When Ontario Teachers', Lightyear and Integrum made their April 30, 2026 investment, Allworth said existing employee and advisor shareholders would continue to hold significant ownership. Ontario Teachers' Pension Plan, Apr 2026
Recruiting deals
Allworth's acquisitions typically pay selling owners about 20% to 30% in Allworth equity and the rest in cash, WealthManagement.com reported in October 2024, when the George McKelvey Company deal was the firm's sixth of that year and 37th since 2018. WealthManagement.com, Oct 2024
Terms of the two September 2026 deals, which together added about $947 million in assets, were not disclosed, according to WealthManagement.com. WealthManagement.com, Sep 2026
CAPTRUST said in September 2023 that more than half of its employees participate in at least one of its equity programs. CAPTRUST, Sep 2023
A CAPTRUST job posting for a wealth financial advisor, viewed in October 2026, lists a starting salary of $100,000 to $130,000 plus bonus, held for two years before moving to a production-based payout in year three. CAPTRUST careers
Recruiting deals
Terms of CAPTRUST's September 2026 purchase of Compass Advisors and Long Island Wealth Management, which together brought about $1.2 billion in client assets, were not disclosed, according to InvestmentNews. InvestmentNews, Sep 2026
When Carlyle invested in September 2023, CAPTRUST said the growth capital would fund acquisitions and that neither GTCR nor its executives would sell shares in the deal, which valued the firm at more than $3.7 billion. CAPTRUST, Sep 2023
Financial Planning reported in 2019 that Carson Partners firms pay Carson between 25 and 65 basis points, depending on the investments they choose. Financial Planning, 2019
Citywire reported in January 2024 that Carson Partners advisors keep the equity in their business and pay a basis-point fee for Carson's technology and investment platform. Citywire RIA, Jan 2024
Recruiting deals
InvestmentNews reported in July 2026 that equity in Carson's W-2 channel had mostly been reserved for founding advisors as part of their acquisition deal structure, and that the new equity program extends to advisors in the last year of their acquisition-related growth incentives. InvestmentNews, Jul 2026
In January 2026 Carson completed a full buyout of a Minneapolis Carson Wealth office in which it had taken a 30% stake in 2024; financial terms were not disclosed. InvestmentNews, Jan 2026
In March 2021 Creative Planning offered partnership stakes to 86 employees, about 10% of its workforce at the time, through grants or direct share purchases, according to WealthManagement.com. WealthManagement.com, Mar 2021
Recruiting deals
When it announced the 2021 employee equity program, Creative Planning said it would also offer equity as part of future acquisitions, WealthManagement.com reported (March 2021). WealthManagement.com, Mar 2021
In its 2022 acquisition of $5 billion Wipfli Financial Advisors, which brought 95 employees, Wipfli LLP retained a significant minority stake and other terms were not disclosed, InvestmentNews reported. InvestmentNews, 2022
Dynasty's January 2022 IPO filing said it charges network partner firms for core services as either a basis-point fee on assets under administration or a percentage of revenue, plus a basis-point fee for its investment platform. Dynasty Financial Partners Inc. (SEC Form S-1), Jan 2022
The same filing said Dynasty's 2021 revenue participation investments carried a weighted average revenue share of 5%, which partner firms could generally buy out after about three to five years. Dynasty Financial Partners Inc. (SEC Form S-1), Jan 2022
InvestmentNews reported in June 2019 that Dynasty's platform services typically cost partner firms 15% to 20% of gross revenue, so advisors keep the rest of their firm's revenue and all of its equity. InvestmentNews, Jun 2019
Recruiting deals
Dynasty's Freedom Note, launched in June 2019, offered qualified breakaways up to 100% of trailing-12-month revenue as an eight-year forgivable loan, repaid with 35% of the new RIA's gross revenue (a figure that also covers platform fees), with no prepayment penalty, according to InvestmentNews. InvestmentNews, Jun 2019
Dynasty said in February 2026 that proceeds of its latest minority raise would help fund technology, talent, private-markets and OCIO offerings and M&A for its partner firms. Pulse 2.0 (Dynasty Financial Partners release), Feb 2026
A current Edelman posting for a Director, Financial Planning role lists a total target cash range of $125,000 to $350,000, made up of base salary and a bonus tied to growing sales and client relationships. Edelman Financial Engines (Jobvite)
On March 16, 2026, Edelman announced a $175 million equity distribution to its financial planners, extending ownership to all planners, with a discretionary co-investment option promised for later in 2026. Business Wire, Mar 2026
Recruiting deals
The March 2026 ownership program covers planners who join the firm later as well as current ones, Edelman said; InvestmentNews reported more than 360 planners were eligible at launch. InvestmentNews, Mar 2026
No dated, firm-specific figures on transition loans or acquisition terms were found; deal terms for acquired RIAs such as Hasenberg Financial Group (October 2025) were not disclosed. Business Wire, Oct 2025
Farther's advisor recruiting page, viewed in October 2026, promises top industry payouts plus equity in Farther, full ownership of the advisor's book and eligibility for a guaranteed buyout through a retire-in-place program; it publishes no payout percentage. Farther
Recruiting deals
Farther added 29 advisors in the first quarter of 2025, bringing AUM to nearly $6 billion, the firm said; recruited assets then roughly tripled to more than $23 billion by the first quarter of 2026, per its May 2026 Series D announcement. General Atlantic, May 2026
RIABiz reported in July 2024 that Farther had recruited 10 former Goldman Sachs advisors since September 2023 and 32 advisors over three quarters, reaching about $3 billion in AUM; no dated transition-package figures were found. RIABiz, Jul 2024
Under the partnership structure described in 2018 coverage of Focus's IPO, a partner firm's principals are paid from a management company that keeps the share of earnings before partner compensation (EBPC) that Focus did not buy, while Focus holds a preferred claim on its own 'base' share of EBPC, according to Financial Planning. Financial Planning, 2018
Recruiting deals
Focus has historically bought between 40% and 60% of a partner RIA's EBPC, with excess earnings above target shared between Focus and the selling principals, Financial Planning reported in 2018; current terms after the 2023 take-private have not been disclosed. Financial Planning, 2018
In July 2025, the firm (then Homrich Berg, with $25 billion in AUM) launched a firmwide equity participation program that grants units to all employees who were not already shareholders, with payoff tied to a future liquidity event or recapitalization, according to WealthManagement.com. WealthManagement.com, Jul 2025
Recruiting deals
Under the July 2025 equity program, new hires are eligible for equity participation units as part of their offer packages, according to WealthManagement.com. WealthManagement.com, Jul 2025
InvestmentNews reported in October 2026 that HB Wealth acquired Wealth Care LLC, a physician-focused RIA with about $700 million in assets, with Advisor Growth Strategies advising the seller; terms were not disclosed. InvestmentNews, Oct 2026
In its December 2025 acquisition of Glass Jacobson, WealthManagement.com reported, non-partner second-generation advisors were offered incentives including a bonus pool and a profits-interest pool. WealthManagement.com, Dec 2025
Recruiting deals
WealthManagement.com reported in December 2025 that Glass Jacobson's partners could elect to take Mercer equity as part of their closing payment. WealthManagement.com, Dec 2025
Mercer said it announced 16 deals and closed 18 transactions in 2025, adding more than $10 billion in assets through acquisitions, as reported in January 2026. Pulse 2.0, Jan 2026
Advisors who join the W-2 Pillar Channel receive a combination of cash and equity in NewEdge, the firm said when it launched the model in February 2023; specific percentages were not disclosed. NewEdge Advisors, Feb 2023
Recruiting deals
The Pillar Channel had grown to 14 teams with roughly $14 billion in client assets after Stonegate Investment Group, a team overseeing about $6 billion, joined NewEdge Advisors, according to a March 2026 company release. Business Wire, Mar 2026
NewEdge Advisors planned to begin recruiting outside advisors into its W-2 channel in 2026, CEO Alex Goss told WealthManagement.com. WealthManagement.com, Jan 2026
Savvy's advisor recruiting page, as viewed in October 2026, describes a revenue-share arrangement with no added charges for support and says all partner advisors also receive equity in Savvy; it does not publish a percentage. Savvy Wealth
In an August 2024 interview with AlleyWatch, Savvy said advisors could join as W-2 employees or 1099 contractors depending on what worked best for both sides. AlleyWatch, Aug 2024
Recruiting deals
Savvy's advisor page, viewed in October 2026, says joining carries no direct cost to the advisor and that every partner advisor receives equity in Savvy Wealth on top of the revenue share; no dated transition-loan figures were found. Savvy Wealth
In mid-2025 Savvy said it would pursue larger teams after adding the $270 million Perspective 6 Wealth Advisors team, which brought its advisor headcount to 68 at the time, according to WealthManagement.com. WealthManagement.com, Jul 2025
Silvercrest reported compensation and benefits expense of $20.5 million for the second quarter of 2026, equal to 66.6% of revenue, and said it expects that ratio to stay elevated while its investment program matures. Silvercrest (GlobeNewswire via Finviz), Jul 2026
In its second-quarter 2026 release (July 30, 2026), Silvercrest said it plans to make equity grants to the professionals building the business, so pay includes stock-based awards on top of salary and bonus. Silvercrest (GlobeNewswire via Finviz), Jul 2026
Recruiting deals
Silvercrest agreed in 2019 to pay $45 million upfront for Cortina Asset Management, plus about $26 million more over four years, according to Private Banker International. Private Banker International
The global value team Silvercrest hired in May 2024 launched its strategy in December 2024 with a $1.3 billion seed investment from Australian pension fund Cbus, as reported by Dakota. Dakota
Sovereign says on its website that every advisor on its platform receives a 100% payout on advisory fees and pays a platform fee instead; this is the firm's own marketing claim, not an independently verified figure. Sovereign Advisor Solutions
Per Sovereign's published fee schedule (undated), that platform fee is $750 a month for E&O, registrations and base technology, plus 20 basis points on the first $20 million of AUM, 10 basis points on the next $80 million and 5 basis points above $100 million. Sovereign Advisor Solutions
Sovereign says planning and held-away advisory fees are paid out at 90% less a $35 review fee per payment, and its site lists a $250 monthly fee for advisors using their own DBA. Sovereign Advisor Solutions
Steward said in December 2025 that control of the employee-owned firm stays with its partners after Ares took a non-controlling minority stake as part of a $475 million capital package. Pulse 2.0 (Steward Partners release), Dec 2025
WealthManagement.com reported in October 2025 that Steward had closed its 1099 independent-contractor model, launched in late 2019, to new advisors, with existing 1099 advisors keeping their arrangements. WealthManagement.com, Oct 2025
The $475 million Ares package announced in December 2025 expanded Steward's lending capacity alongside the equity stake, adding capital for recruiting and acquisitions. Pulse 2.0 (Steward Partners release), Dec 2025
Steward reported that six advisor teams with more than $2.2 billion in combined client assets joined in the third quarter of 2026, the largest being American Financial Advisors with about $1 billion. Steward Partners (via Yahoo Finance), Oct 2026
After the Madison Dearborn deal, Wealthspire CEO Michael LaMena said in November 2025 that the firm was strengthening its equity offering so employees can take part in firm ownership, according to InvestmentNews. InvestmentNews, Nov 2025
Recruiting deals
Wealthspire's relaunch in November 2025 came with about $1 billion of new debt financing, which InvestmentNews reported would partly fund employee investment in the firm. InvestmentNews, Nov 2025
In its May 5, 2026 deal for Indianapolis-based Fi3 Advisors (about $1.2 billion in AUM), Wealthspire kept Fi3's partners in place and did not disclose terms. Wealthspire, May 2026
Terms were also not disclosed for the $11 billion Sellwood Investment Partners deal announced April 22, 2026, whose team stays in its Portland office. Wealthspire, Apr 2026
Interactive Brokers markets its RIA custody with no custody fees, no account minimums and no ticket charges, according to Financial Planning in 2026. Financial Planning, 2026
The Robinhood Advisor Network is open only to RIAs with at least $500 million in assets and a TradePMR relationship, and Robinhood takes 25% of the gross revenue advisors earn from referred clients, ThinkAdvisor reported March 5, 2026, when the pilot launched. ThinkAdvisor, Mar 2026
For 2026, Merrill left its standard cash grid of 34% to 51% unchanged, AdvisorHub reported on Sept. 25, 2025. For 2027, Morgan Stanley will raise the revenue thresholds advisors must hit to reach each payout rate by 10% across the board, the first threshold increase since 2024, ThinkAdvisor reported on Sept. 23, 2026. For 2027, UBS is leaving its payout grid unchanged, its first year without grid changes after two years of revisions, and is instead making growth awards for net new money and new client relationships easier to earn, AdvisorHub and Financial Planning reported on Sept. 23, 2026. For 2026, Wells Fargo Advisors left its core grid unchanged: advisors keep a $13,500 monthly production hurdle with a 50% payout on revenue above it, thresholds that have held for five years, InvestmentNews and AdvisorHub reported in October 2025.
What payout do independent broker-dealer advisors get?
Commonwealth advisors who move to LPL's corporate RIA after the conversion would keep more than 90% of the revenue they generate, with LPL taking a small administration and compliance fee, according to sources cited by AltsWire on June 25, 2025. LPL reported a production-based payout rate (advisory and commission expense, adjusted for advisor deferred compensation, as a share of advisory and commission revenue) of 87.44% for the second quarter of 2026, compared with 87.33% a year earlier, per its Q2 2026 results released July 30, 2026.
How do regional brokerage firms pay advisors?
An Edward Jones client disclosure dated July 2022 says advisors generally receive 36% to 40% of the revenue the firm earns from client accounts, with lower payouts possible for less tenured advisors. Janney pays an advisor producing $1 million about $460,000 in 2026, down from $500,000 a year earlier, and pays less than the other firms in Financial Planning's 2026 pay survey at the $400,000, $600,000 and $1 million production levels, according to Financial Planning (April 2026). Raymond James's AdvisorChoice brochure, as posted on the firm's site in October 2026 (the document itself is undated), says independent contractors at RJFS receive an 81% to 90% payout, set by the branch's total trailing-12-month production, with net payout depending on branch expenses.
How are advisors at RIAs paid?
About 110 Allworth advisors owned equity in the firm as of October 2024, according to WealthManagement.com; no salary, bonus or revenue-share figures were found. CAPTRUST said in September 2023 that more than half of its employees participate in at least one of its equity programs. Financial Planning reported in 2019 that Carson Partners firms pay Carson between 25 and 65 basis points, depending on the investments they choose.
Every line comes from the firm’s profile on Financial ADVSR, researched from firm disclosures, filings and trade-press reporting and linked to its source. Where a firm doesn’t publish a payout, we say so on its profile rather than estimate one.
Cite this
Financial ADVSR, “Advisor payouts by firm,” updated October 10, 2026, https://www.financialadvsr.com/data/advisor-payouts