The Secret World Of Financial Advisors: How Much They Make, How Their Bonuses Are Structured And More On The RazReport

"I'm actually very surprised that the structure and amounts of financial advisor bonuses have never been outed broadly in the mainstream in the last 10-20 years," Henry Yoshida told The RazReport.

"When you look at the marketplace here, there's about $14 trillion in IRAs, $33 trillion overall in retirement accounts in the US," Yoshida said.

• Why are financial advisors more likely to quit on a Friday before a three-day holiday week?
• How much do financial advisors at the top-tier wirehouses actually make? How are their bonuses calculated?

With decades of financial advisor experience under his belt, Yoshida, the co-founder and CEO of Rocket Dollar, outs the secrets of the world of financial advisors on The RazReport: how they plan their moves from one wirehouse to another, how they manage and grow their customer base and how they monetize their network.

Tune in to listen to the lives of financial advisors, lucrative profit margins and the war of AUMs.

Listen to the full episode at The RazReport:

On this episode of The RazReport, Benzinga CEO Jason Raznick speaks with Yoshida.

Before Rocket Dollar, Henry was the founder of a venture capital-backed robo-advisor fintech platform, Honest Dollar, which was later acquired by Goldman Sachs.

Yoshida started out his career as an intern under Bill Clinton for one term after the "most famous intern in history."

Eager to learn the rules of money-making and after his family had a bad experience with a financial advisor, Yoshida said he started working for BoA Merrill Lynch as a financial advisor with a focus on 401ks and retirement funds.

After a decade of experience and surviving two financial crises, he quit BoA Merrill Lynch and started his own investment firm, MyGroup, which was then acquired by CAPTRUST.

Now at Rocket Dollar, Yoshida manages $500 million in retirement funds with a 20-person team and helps everyone access savings to follow their dreams.

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