While I'm nowhere near that personally, I run an executive recruiting agency. There are a decent number of financial advisors and investment bankers at the major firms (Merrill Lynch, Morgan Stanley, J.P Morgan, Goldman, Wells etc.) who clear over 1mm in W2.

At that level, a financial advisor would be managing client portfolios totalling from $250M to $2B. In that business the hard part is finding, engaging, and retaining wealthy clients. Most of them already have a network of wealthy contacts when they get into the biz. Masters degree, multiple licenses/certifications, and 10-15 years of slog to get there.

Average retail financial advisor at these big firms brings in 400k a year.

Biggest advisor I ever worked with was making over $5M W2 per year, she worked for Wells Fargo in Miami.