How much do self-employed financial advisers earn?

As of June 2023, the average salary for financial advisers is reported to be £72,849, which reflects an increase from £64,755 the previous year. However, self-employed financial advisers tend to earn significantly more, with an average income of approximately £138,000. This figure for self-employed advisers has remained stable over the past year, indicating a consistent earning potential in this sector. The higher earnings for self-employed advisers can be attributed to their ability to set their own fees, manage their client base independently, and potentially offer a wider range of services. This financial independence often allows them to capitalize on their expertise and market demand, leading to higher overall compensation compared to their employed counterparts.