Desjardins Group is one of Canada’s largest financial institutions, offering various financial advisory roles. Compensation varies by position, experience, and location. This article provides a comprehensive overview of financial advisor salaries at Desjardins, along with position details, qualifications, experience requirements.
Working at Desjardins as a Financial Advisor offers a great work-life balance and a comprehensive benefits package, but the environment is highly target-driven. – Former Financial Advisor, Desjardins
Salary Overview
The salary for financial advisors at Desjardins varies depending on experience, role, and location. According to data from Glassdoor and Indeed, the salary range is as follows:
| Position | Average Salary (CAD) | Salary Range (CAD) |
|---|---|---|
| Entry-Level Financial Advisor | $50,000 | $45,000 – $60,000 |
| Experienced Financial Advisor | $70,000 | $60,000 – $90,000 |
| Senior Financial Advisor | $90,000 | $85,000 – $120,000 |
| Wealth Management Advisor | $100,000 | $85,000 – $140,000 |
| Financial Services Agent | $55,000 | $50,000 – $70,000 |
Note: Salaries vary depending on the province, years of experience, and performance bonuses.
Positions and Responsibilities
Desjardins offers several roles within the financial advisory sector:
- Entry-Level Financial Advisor
- Responsibilities: Assisting clients with basic financial planning, understanding investment options, and helping with account management.
- Salary Range: $45,000 – $60,000
- Experienced Financial Advisor
- Responsibilities: Managing a portfolio of clients, offering investment and retirement planning advice, and achieving sales targets.
- Salary Range: $60,000 – $90,000
- Senior Financial Advisor
- Responsibilities: Leading financial planning strategies for high-net-worth clients, mentoring junior advisors, and managing complex investment portfolios.
- Salary Range: $85,000 – $120,000
- Wealth Management Advisor
- Responsibilities: Providing comprehensive wealth management solutions, estate planning, tax optimization strategies, and investment advice.
- Salary Range: $85,000 – $140,000
- Financial Services Agent
- Responsibilities: Supporting financial advisors, conducting administrative tasks, and assisting with sales and customer service inquiries.
- Salary Range: $50,000 – $70,000
Qualifications and Experience
To work as a financial advisor at Desjardins, the following qualifications and experience are typically required:
- Education:
- Bachelor’s degree in Finance, Business Administration, Economics, or a related field.
- Advanced certifications like CFP (Certified Financial Planner) or CIM (Chartered Investment Manager) are beneficial for senior roles.
- Experience:
- Entry-level roles may require 1-2 years of experience in finance or sales.
- Senior positions typically require at least 5-7 years of relevant financial advisory experience.
- Experience in wealth management or investment planning is a plus for specialized roles.
- Licensing and Certifications:
- Mutual Fund License (IFIC or CSC certification)
- Life Insurance License (LLQP)
- Certification in financial planning (e.g., CFP) for senior advisory roles.
The compensation is competitive, especially with the performance bonuses, but the role requires constant client acquisition and relationship management. – Senior Financial Advisor, Desjardins
Frequently Asked Questions (FAQs)
- What is the starting salary for a Financial Advisor at Desjardins?
- The starting salary for an entry-level financial advisor at Desjardins is approximately $45,000 to $60,000 per year, depending on the location and experience level.
- What benefits do Desjardins Financial Advisors receive?
- Desjardins offers comprehensive benefits, including medical and dental insurance, retirement plans, and performance-based bonuses. Work-life balance is also emphasized with a standard 35-hour workweek.
- Is commission or performance bonus included in the salary?
- Yes, many financial advisor positions at Desjardins include performance-based bonuses and commissions, which can significantly increase total compensation.
- What is the career growth path for Financial Advisors at Desjardins?
- Financial Advisors can progress to Senior Financial Advisor, Wealth Management Advisor, or even managerial roles within the Desjardins financial network.
- Is certification mandatory for financial advisory roles?
- Yes, certifications like the Mutual Fund License (IFIC or CSC) and Life Insurance License (LLQP) are typically required, especially for roles dealing with investments and insurance.
Conclusion
Desjardins offers competitive salaries and growth opportunities for financial advisors. The compensation structure is enhanced by performance bonuses and commissions, making it an attractive career for finance professionals. The requirements include relevant education, experience, and certifications, which vary depending on the role and seniority.
