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April 11, 2012 at 10:59 AM
The U.S. Census Bureau compiles a lot of data that can be helpful to investment advisors. Here at AdvisorOne we sorted through that morass of government info and picked out some cool places to set up shop.
We looked at the question two ways. First, we found locations that might offer a different lifestyle than the obvious finance hotspots like New York and Los Angeles. Second, we devised a list of counties in five states that have a high concentration of wealthy people and ranked them in order of highest median income.
If you are looking for a cool place to live (as we see it) that has a high percentage of residents likely to need the services of an advisor, please read on for our list of 5 Cool Places for Advisors to Find Clients. We’ve even included the number of advisors in the counties mentioned, based on circulation data from Investment Advisor and Research magazines, which we’re using as a proxy for the entire advisor universe.
5. Summit County, Utah
Median Income: $85,258
Rank in U.S.: 22nd
Population: 35,448
Advisors: 21
Advisor-to-Population Ratio: 1 per 1,688
If getting away from it all is what you seek, Summit County might be just the place for you to set up your business. Home to Park City and its ski resort, Summit has a small but rather wealthy population. Besides the skiing, beautiful scenery is a big draw. The county gets its name for having dozens of the highest peaks in Utah. And if you find yourself missing that old hustle and bustle, Salt Lake City is just 33 miles away.
4. Forsyth County, Ga.
Median Income: $86,938
Rank in U.S.: 20th
Population: 159,009
Advisors: 94
Advisor-to-Population Ratio: 1 per 1,691
The Atlanta area has a lot to offer. In the last two decades, Forsyth County has been a magnet for young professionals looking to escape the urban sprawl of Atlanta. Still, the nearby big-city amenities in Atlanta—art museums, restaurants, professional and college sports—are a major draw, as is the access to rafting, hiking and even the mountains of southern Tennessee.
3. Marin County, Calif.
Median Income: $88,101
Rank in U.S.: 18th
Population: 1.7 million
2. Williamson County, Tenn.
1. Douglas County, Colo.