Average Personal Financial Advisors Salary in Toledo, OH
Personal Financial Advisors in Toledo, OH, can expect an average annual salary of $117,000. This figure is notably below the national average of $160,360, reflecting regional economic factors and local demand for specialized financial planning services. While the nominal salary is lower, the cost of living in Toledo is precisely at the national average, which is a crucial consideration for purchasing power.
Executive Summary
- Average Salary: $117,000 per year.
- Growth Trend: Salaries have shifted 26.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $199,990.
- Outlook: The Toledo market for Personal Financial Advisors is supported by a local workforce of 400 professionals. With a Location Quotient of 0.79, the concentration of these roles is slightly below the national average, suggesting a stable but not overly saturated job market. The rate of 1.379 jobs per 1,000 workers indicates a consistent, albeit moderate, level of demand for financial advisory services within the region.
Salary Overview
The average Personal Financial Advisors in Toledo, OH earns-27.0%below the national average.
$56.3
$2,250
$9,750
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Personal Financial Advisors in Toledo have experienced growth over the past four years, mirroring broader economic trends and increasing demand for financial planning. This growth is likely driven by factors such as an aging population requiring retirement planning and a general increase in financial literacy and awareness.
Personal Financial Advisors Salary Distribution in Toledo, OH
Salary progression for Personal Financial Advisors in Toledo typically scales with experience. Entry-level positions might start at a lower percentile, while seasoned professionals with extensive client portfolios and specialized certifications can command salaries significantly above the average. The difference between entry-level and senior roles, often reflected in salary percentiles, signifies substantial career growth and earning potential within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $48,440 | $23.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $87,750 | $42.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $86,480 | $41.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $146,250 | $70.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $199,990 | $96.1 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$117,000
Gross Pay
Real Wage (Purchasing Power)
$117,000
Adjusted for COL (100)
The average annual salary of $117,000 in Toledo, OH, aligns perfectly with the local Cost of Living Index of 100, which is the national benchmark. This means that the purchasing power of a Personal Financial Advisor's salary in Toledo is equivalent to the national average. Therefore, the nominal salary translates directly to the cost of goods and services without significant inflation or deflationary impact compared to the rest of the country.
Job Market Context
400
Total Jobs
1.379
Per 1K Jobs
0.79
Location Quotient
Toledo, OH has 0.79x the national average concentration of Personal Financial Advisors jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
With a Location Quotient of 0.79, Toledo, OH, has a slightly lower concentration of Personal Financial Advisors compared to the national average. This suggests that while the profession is present and valued, the market is not as saturated as in some other regions. This could indicate a competitive environment for experienced advisors but also potential opportunities for those entering the field or specializing in niche financial services.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Ann Arbor, MI Personal Financial Advisors Salary | $158,740↑ 36% | 43 mi |
| Sandusky, OH Personal Financial Advisors Salary | $128,810↑ 10% | 48 mi |
| Detroit-Warren-Dearborn, MI Personal Financial Advisors Salary | $152,030↑ 30% | 54 mi |
| Jackson, MI Personal Financial Advisors Salary | $141,670↑ 21% | 58 mi |
Comparing salaries near Toledo, OH
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Toledo, OH?
The median annual salary for a Personal Financial Advisors in Toledo, OH is $117,000. This typically ranges from $48,440 for entry-level positions to $199,990 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Toledo, OH is 27.0% lower than the national median of $160,360.
Is Toledo, OH a lucrative place for Personal Financial Advisors?
No, not when compared to the national average salary.While the cost of living is average, the $117,000 salary for Personal Financial Advisors in Toledo is significantly lower than the national average of $160,360.
Is Toledo, OH a good place to live for Personal Financial Advisors?
The Cost of Living Index in Toledo, OH is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Toledo, OH?
Some top paying nearby cities include Ann Arbor, MI ($158,740) and Sandusky, OH.
How does Toledo's cost of living affect advisor salaries?
Toledo's Cost of Living Index is exactly 100, meaning it matches the national average. This suggests that the $117,000 salary has the same purchasing power in Toledo as the national average salary would have nationally.
What is the job market like for Personal Financial Advisors in Toledo?
The market has a slightly lower concentration of advisors than the national average (LQ of 0.79), with 1.379 jobs per 1,000 workers, indicating a stable demand.
How many Personal Financial Advisors work in Toledo?
There are approximately 400 Personal Financial Advisors employed in the Toledo, OH area.
Is Toledo a good place to start a career as a Personal Financial Advisor?
Given the average salary is below the national benchmark and the market concentration is slightly lower, it might be more appealing for experienced advisors or those prioritizing lifestyle over peak earning potential, though career progression is still possible.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 400 employees in the Toledo, OH area with a job density of 1.379 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Personal Financial Advisors • Data source: BLS OEWS 2024 •Jobs in Toledo, OH