Though it’s no secret that financial advisors skew older, there is, nonetheless, a steady stream of young advisors entering the profession; and one of the earliest and most important hurdles they must tackle is where to begin their career.
A recent study by SmartAsset sought to clear up some of the mystery for the new generation of advisors by identifying the best cities for those who are just getting started in the profession.
It compared 100 of the largest U.S. cities across five metrics. Two of the metrics: average financial advisor earnings and rent as a percentage of average financial earnings—look at the job situation for financial advisors. The remaining three focus on the city’s relative demand for financial advisors. They include financial advisor search volume, percentage of high-earning households and percentage of the population nearing retirement, reflecting a more promising potential client base for local financial advisors.
Some of the results are exactly what you’d expect (New York and San Francisco), but there are also some less obvious cities that may offer opportunities for young advisors willing to go a little off the beaten path.
Here are the 25 best cities for young advisors to launch their careers: