Top 15 Financial Advisor Hotspots: 2023

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The number of financial advisors in the U.S. is rising, with employment projected to grow by 15% from 2021 to 2031, according to a new report from SmartAsset, which cited Bureau of Labor Statistics data.

Earlier this year, U.S. News & World Report ranked financial advisor as one of the best jobs in 2023. In February, Fidelity Investments said it would add advisors to its roster during the first half of 2023, and Commonwealth Financial Network reported that it had onboarded 270 advisors in new and existing practices across the country last year.

SmartAsset noted that some parts of the country have higher concentrations of financial advisors than others. To learn which metropolitan areas have the most advisors per capita, the website analyzed data from the 100 biggest ones.

Researchers counted the number of personal financial advisors in each area, based on data from the BLS’ May 2021 Occupational Employment and Wage Statistics report and the number of adults 25 and older, based on the Census Bureau’s 2021 1–year American Community Survey. Using those figures, the calculated the number of advisors per 10,000 adults and ranked the metro areas accordingly.

See the gallery for the 15 metro areas with the highest number of financial advisors per 10,000 residents, according to SmartAsset.