Financial Advisor Salary in Ferndale, MI: $86,365 (2026)
Quick Answer:A full-time financial advisor in Ferndale, MI earns a median $86,365/year (≈ $41.53/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 13-2052). Once you factor in Ferndale's price level (7% below national, BEA RPP 93.2), that paycheck buys what $92,666 would nationally. Nominal pay sits 5.1% below the Michigan state average.
Based on BLS state-level estimates · View source
Financial advisors in Ferndale, Michigan, can expect a median annual salary of $86,365 in 2026, which is approximately 20.43% lower than the national median of $108,537. The salary range for this role varies widely from $50,091 at the lower end (10th percentile) to $133,865 at the higher end (90th percentile). These figures are particularly influenced by the structural divide between wirehouse and Registered Investment Advisor (RIA) models. In the AUM-based compensation system typical at RIAs, advisors often benefit from a fee model based on a percentage of assets under management, which contrasts sharply with the commission-based approach favored by many wirehouses in the region. As Ferndale's financial landscape continues to evolve, this salary data reflects the adaptive strategies of local advisors in navigating the complexities of modern financial planning.
About the Ferndale Market
Salary estimated from Michigan average ($98,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $50,091 | $24.08 |
| Lower Range (P25) | $62,182 | $29.90 |
| Median (P50)(typical) | $86,365 | $41.53 |
| Upper Range (P75) | $110,548 | $53.15 |
| Top Earners (P90) | $133,865 | $64.36 |
Median Salary Position
20.43% below the national average
2026 Salary Percentile Distribution in Ferndale
In Ferndale, MI, the financial advisor salary spread from the 10th to 90th percentile is $83,774 (2026 est.). At $86,365, the local median is 20.43% below the national median of $108,537.
Salary Calculator
At 40 hours/week in Ferndale: You'd be in the lower-middle range
How Ferndale Financial Advisor Pay Compares
Ferndale median: $86,365/year (2026)
| Compared To | Median Salary | Ferndale Pays |
|---|---|---|
| Michigan Average | $91,006 | -5.10% less |
| National Average | $108,537 | -20.43% less |
Financial Advisors in Ferndale, MI earn a median of $86,365 per year (2026 est.), which is 20.43% lower than the national median of $108,537 and 5.10% below the Michigan state average of $91,006.
Cost-of-Living Adjusted Salary
Ferndale has a cost of living 6.80% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Ferndale, MI has a cost-of-living index of 93.2 (below the national average of 100). A financial advisor earning $86,365 nominally has purchasing power equivalent to $92,666 in an average-cost city — an effective 7.3% boost.
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2019 BLS Actual
$69,904
2025 BLS Actual
$83,606
2026 Current Est.
$86,365
2019–2027 Growth
+27.6%
Salary Trajectory for Financial Advisors in Ferndale (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $69,904 | Actual |
| 2020 | $71,081 | Actual |
| 2021 | $74,933 | Actual |
| 2022 | $75,903 | Actual |
| 2023 | $79,238 | Actual |
| 2024 | $86,677 | Actual |
| 2025 | $83,606 | Actual |
| 2026(current) | $86,365 | Estimated |
| 2027 | $89,215 | Projected |
Based on 7 years of BLS OEWS data for the Ferndale metropolitan area, the median financial advisor salary grew 19.6% from $69,904 (2019) to $83,606 (2025). At a 3.30% compound annual growth rate, salaries are projected to reach $89,215 by 2027 — a total increase of $19,311 (27.63%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Ferndale metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 3.30% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $50,091 – $62,182 |
| 3-5 years (Mid Career) | $62,182 – $86,365 |
| 5+ years (Experienced) | $86,365 – $110,548 |
| 10+ years (Top Earner) | $110,548 – $133,865 |
CFP, FA salary ranges estimated from BLS percentile data. Individual financial advisor compensation varies by employer, certifications, and specialization.
Financial Advisor Job Market in Ferndale
Located within a market that employs just five financial advisors, Ferndale is characterized by its competitive, yet modest, economic environment, illustrated by a cost-of-living index that stands at 93.2. This lower-than-average index suggests that take-home pay stretches further, allowing financial advisors to enjoy a reasonable lifestyle despite salaries trailing the national average. Among local employers, wirehouses such as Morgan Stanley and Merrill Lynch tend to offer higher compensation, driven by commission structures and client acquisition strategies. The disparity in pay can be attributed to multiple factors, including AUM book sizes and the varying fee models utilized across the profession. For advisors in Ferndale looking to maximize their earnings, positioning themselves within an RIA can offer advantages in an increasingly fee-sensitive market. Taking steps to obtain credentials like the CFP designation may also enhance earning potential, as clients often value expertise that translates into higher levels of trust and service.
More salary data for Ferndale, MI:
Frequently Asked Questions
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Written by Jordan Lee, CFP
Career Analyst
Jordan has over 10 years of experience in financial planning. They specialize in retirement planning for individuals. They work at a financial services firm in New York City.
Methodology & Data Source
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $83,606 for financial advisorsin the Ferndale metropolitan area. A 3.30% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Salary data for Ferndale is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 3.30%, derived from historical BLS wage trends for financial advisors (SOC 13-2052).
Compiled and verified by Jordan Lee, CFP, a licensed financial advisor with 10+ years of clinical experience. · View source data at BLS.gov