@Sneakers41 - I didn’t know that. I thought that the mortgage broker for the bank handled both products.
I had a friend that was looking into banking jobs because she was considering becoming a financial advisor. She did not have a financial background but did have a degree and considered finding a personal banker job to get her foot in the door with a bank and eventually work her way to a financial advisor position.
She told me that a lot of personal bankers that have a series six and a series seven license are the only ones authorized to discuss investments with customers so this gives the licensed personal banker and advantage.
The personal banker salary varies but there are bonuses associated. Most financial advisors that work for outside investment firms either work on strictly commission or are only paid a very small amount and the majority of the compensation is based on commissions.
This makes it very hard to pursue this line of work and it is easier to break into this field through a private bank although the salary potential might not be as high.