10 cities with the highest concentrations of financial advisors in 2023
You might assume that financial advisors are spread evenly among U.S. cities, but you’d be wrong. A recent report from SmartAsset shows some cities are what the report describes as “financial advisor hot spots,” with far higher ratios of personal financial advisors to adult inhabitants than others.
SmartAsset came up with its ranking by comparing the number of financial advisors in the 100 largest metro areas in the U.S., based on Bureau of Labor Statistics data, with the number of residents in those areas over the age of 25, based on Census Bureau data.
Some of the nation’s biggest cities failed to make the top 10. For example, New York City has about 15 advisors for every 10,000 adult residents, compared to an average of 24 advisors for each 10,000 residents for the top 10 cities on the list. Click through to see which cities those are.