Financial Advisor Salary in Livonia, MI: $89,647 (2026)
Quick Answer:A full-time financial advisor in Livonia, MI earns a median $89,647/year (≈ $43.10/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 13-2052). Once you factor in Livonia's price level (7% below national, BEA RPP 93.2), that paycheck buys what $96,188 would nationally. Nominal pay sits 1.5% below the Michigan state average.
Based on BLS state-level estimates · View source
In 2026, financial advisors in Livonia, MI, are projected to earn a median annual salary of $89,647. This figure reflects local estimates derived from 2025 BLS data and adjusted for regional cost variations. The salary range for financial advisors in this area extends from $51,995 at the 10th percentile to $138,953 at the 90th percentile, indicating a diverse earning potential influenced by the structural divide between commission-based wirehouses and fee-only Registered Investment Advisors (RIAs). With the local compensation levels trailing the national median of $108,537 by approximately 17.40%, advisors in Livonia must navigate the dual challenges of competitive pay and fluctuating client asset management models as they engage with both high-net-worth individuals and broader clientele base.
About the Livonia Market
Salary estimated from Michigan average ($98,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $51,995 | $25.00 |
| Lower Range (P25) | $64,546 | $31.03 |
| Median (P50)(typical) | $89,647 | $43.10 |
| Upper Range (P75) | $114,748 | $55.16 |
| Top Earners (P90) | $138,953 | $66.80 |
Median Salary Position
17.4% below the national average
2026 Salary Percentile Distribution in Livonia
In Livonia, MI, the financial advisor salary spread from the 10th to 90th percentile is $86,958 (2026 est.). At $89,647, the local median is 17.4% below the national median of $108,537.
Salary Calculator
At 40 hours/week in Livonia: You'd be in the lower-middle range
How Livonia Financial Advisor Pay Compares
Livonia median: $89,647/year (2026)
| Compared To | Median Salary | Livonia Pays |
|---|---|---|
| Michigan Average | $91,012 | -1.50% less |
| National Average | $108,537 | -17.40% less |
Financial Advisors in Livonia, MI earn a median of $89,647 per year (2026 est.), which is 17.40% lower than the national median of $108,537 and 1.50% below the Michigan state average of $91,012.
Cost-of-Living Adjusted Salary
Livonia 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.
Livonia, MI has a cost-of-living index of 93.2 (below the national average of 100). A financial advisor earning $89,647 nominally has purchasing power equivalent to $96,188 in an average-cost city — an effective 7.3% boost.
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2019 BLS Actual
$72,560
2025 BLS Actual
$86,783
2026 Current Est.
$89,647
2019–2027 Growth
+27.6%
Salary Trajectory for Financial Advisors in Livonia (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $72,560 | Actual |
| 2020 | $73,782 | Actual |
| 2021 | $77,780 | Actual |
| 2022 | $78,788 | Actual |
| 2023 | $82,249 | Actual |
| 2024 | $89,971 | Actual |
| 2025 | $86,783 | Actual |
| 2026(current) | $89,647 | Estimated |
| 2027 | $92,605 | Projected |
Based on 7 years of BLS OEWS data for the Livonia metropolitan area, the median financial advisor salary grew 19.6% from $72,560 (2019) to $86,783 (2025). At a 3.30% compound annual growth rate, salaries are projected to reach $92,605 by 2027 — a total increase of $20,045 (27.63%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Livonia 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) | $51,995 – $64,546 |
| 3-5 years (Mid Career) | $64,546 – $89,647 |
| 5+ years (Experienced) | $89,647 – $114,748 |
| 10+ years (Top Earner) | $114,748 – $138,953 |
CFP, FA salary ranges estimated from BLS percentile data. Individual financial advisor compensation varies by employer, certifications, and specialization.
Financial Advisor Job Market in Livonia
Despite a modest number of 21 financial advisors employed in Livonia, the city's cost-of-living index of 93.2 suggests that take-home pay can stretch further compared to more expensive markets. Prominent employers such as Morgan Stanley and Merrill Lynch typically offer higher salaries within the wirehouse segment, but independent broker-dealers and RIAs may present lucrative opportunities tied to AUM-based fee structures. The disparity in compensation relates closely to factors like asset book size, commission versus flat fees, and the value of CFP or CFA credentials. Advisors aiming to maximize their income should consider building a high-net-worth clientele, focusing on generating recurring revenue through advisory fees, and potentially exploring breakaway transitions to RIAs where ownership equity could further enhance long-term financial outcomes in Livonia's evolving market.
More salary data for Livonia, 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 $86,783 for financial advisorsin the Livonia 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 Livonia 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