The Top Regional RIAs: Four hot spots?
In 2008, BusinessWeek magazine noted that Boston was one of the U.S. cities best equipped to ride out the recession, thanks to a near-perfect mix of industries that are not only stable but complementary.
In fact, with world-renowned universities such as Harvard and the Massachusetts Institute of Technology serving as de facto incubators for tech start-ups, and top-flight hospitals fueling the health care sector, Boston fared better than most urban areas through the downturn and is riding the wave during the nascent recovery.
In September, for example, unemployment in New England's major city stood at 7.3%, well below the national rate of 9.6%, according to Mark Melnik, deputy director of research for the Boston Redevelopment Authority.
What's appealing for advisers is that Boston has a strong high-end job market. In fact, nearly a quarter — 24% — of the city's households have incomes of $100,000 or more.
(Click here for the full regional RIA rundown of Boston.