10 States With Most Advisors Headquartered | ThinkAdvisor by Melanie Waddell
Published: October 23 2014
The majority of investment advisory firms’ main offices are concentrated in a relatively small number of states, with the distribution likely driven by access to financial markets, population and net worth.
The Investment Adviser Association and National Regulatory Services’ recently released Evolution/Revolution report, which is based on Form ADV, Part 1 data filed by all advisors registered with the Securities and Exchange Commission as of April 7, found that states considered to be financial hubs, like New York and Massachusetts, are, obviously, attractive spots for advisors to be located.
Proximity to New York City is part of the reason that Connecticut and New Jersey rank high among advisor locations, but Connecticut’s ranking is also influenced by the concentration of hedge funds located in the Greenwich and Stamford areas.