Dear D.C. lawyer: Your financial adviser may be earning more than you are. According to Financial Advisor Magazine, a survey of around 3,000 financial advisers found that investment generalists had an average annual salary of $279,000. And "wealth managers," who reportedly are better able to appeal to affluent clients -- presumably including big firm partners -- earned an average of $881,000.
That's a lot of money, particularly for a subject that frequently can be less complex than many sophisticated D.C. legal practices. If you have a financial adviser, make sure he or she isn't a bad one, and consider ways to reduce your advisory costs.