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Portfolio > Economy & Markets > Fixed Income

5 Cool Places for Advisors to Find Clients

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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.

Family skiing in Utah.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.

Mansion in Forsyth County.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.

Man walking a dog in Sausalito, Calif. (Photo: AP)3.  Marin County, Calif.

Median Income:  $88,101
Rank in U.S.:  18th
Population:  1.7 million

Advisors:  237
Advisor-to-Population Ratio:  1 per 7,172

Marin County isn’t exactly offbeat, but it offers everything an advisor might want: wealthy residents, beautiful countryside and proximity to big city life. Just over the Golden Gate Bridge from San Francisco, the county boasts a civic center designed by Frank Lloyd Wright and Muir Woods, as well as trails for hiking and mountain biking. If that’s not enough you can always take a look at a world-famous prison, San Quentin, and know that justice is being served.

Downtown Franklin, Tenn.2.  Williamson County, Tenn.

Median Income:  $88,316
Rank in U.S.:  17th
Population:  165,338

Advisors:  332
Advisor-to-Population Ratio:  1 per 498

Smack dab in the middle of Tennessee, Williamson County boasts a wealth of sites for history buffs to explore. The county was the site of three Civil War battlefields, including the Franklin Battlefield, which is a National Historic Landmark. There are many homes, churches and other buildings on the National Register of Historic Places. Nearby is Nashville, nirvana for country music fans. And to top it off, the town of Franklin was listed in the travel book as one of the “1,000 Places to See in the USA and Canada Before You Die.“  So what’s stopping you from going there now?

Colorado's Capitol in Denver.1.  Douglas County, Colo.

Median Income:  $97,480
Rank in U.S.:  8th
Population:  270,266

Advisors: 272
Advisor-to-Population Ratio:  1 per 993

Douglas County is appealing because it speaks to both city lovers and those who crave the outdoors. Part of the Denver metropolitan area, the county has easy access to natural wonders like Rocky Mountain National Park and ski resorts. For those who like the bright lights, there are Denver’s trendy restaurants, big-league sports and art museums and galleries. If you want a college atmosphere, Colorado Springs is a short drive away.


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