Financial advisors looking for the best places to find clients can start out by looking for cities in which there are a large number of wealthy households per advisor.
With the economy gathering steam, Accounting Principals noted recently that jobs in finance and accounting were among the fastest growing sectors with strong demand for college graduates in the field.
This list of the cities with the fewest financial advisors is based on a list from Investopedia. Each city has one or more “wealth zones” — ZIP codes with high adjusted gross incomes. We include the ratio of wealthy people to advisors in each city’s wealth zones, along with AGI and number of households in those zones and a cool fact about each city.
Big cities and tony suburbs make the grade, and the Top 9 cities are distributed across the country, allowing wealth advisors to choose the type of weather and lifestyle that suits them best.
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Here, then, are the nine U.S. cities with the fewest financial advisors:
9. Carmel, Indiana (Indianapolis suburb)
Ratio: 125 households to 1 wealth advisor
Adjusted Gross Income: $102,509
Wealth Zone Households: 15,000
Cool Fact: Fastest growing city in the state (2010 U.S. Census)
Ratio: 157 to 1
Adjusted Gross Income: $139,000
Wealth Zone Households: 83,000
Cool Fact: Dallas is the Largest U.S. city not on a navigable body of water (visitdallas.com)
Ratio: 176 to 1
Adjusted Gross Income: $166,000
Wealth Zone Households: 184,000
Cool Fact: Chicago’s convention center, McCormick Place, is the largest in North America (cityofchicago.org)
6. Bryn Mawr, Pennsylvania
Ratio: 202 to 1
Adjusted Gross Income: $150,000
Wealth Zone Households: 10,000
Cool Fact: In top 8% for median family income in U.S. (citytowninfo.com)
Ratio: 233 to 1