Adviser earnings have increased by 14.9%, reaching an average £95,754, with the majority reporting a "positive outlook on the future".

This is according to the recent BWD census which collected information from respondents between December 2022 and January 2023 including data on salaries, bonuses, and benefits for the current and previous years.

Employed earnings for financial advisers and planners are currently at almost £96,000, up from £83,000 the previous year.

However, the research highlighted an overall gender gap of 28% in the advice profession. Women account for 18% of advisers.

Of those advisers questioned, 81% were male and 18% were female.

The pay gap stands at 13% whilst the bonus gap is at 106% with BWD reporting that several factors drive earnings - and being male increases the advantage by 28%.

London is the highest earning area but with the exception of the North East and Northern Ireland, the rest of the UK is fairly consistent.

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Furthermore, the research found that Chartered advisers earn 33% more than Level 4 advisers.

For self-employed advisers the average salary is higher but has not shown any change over the previous year, sitting at roughly £138,000.