California and several states in the Northeast have the largest number of registered investment advisors in the United States, according to the latest count.
RIAs, who are registered either with the Securities and Exchange Commission or a securities agency found in individual states, are, not surprisingly, often found in areas with higher concentrations of wealth.
The Securities Industry and Financial Markets Association, which represents securities firms, banks and asset managers, estimates the Northeastern states now have over 7,900 RIAs. Just the state of New York alone has 3,442 RIAs. On the other hand, the state with the most RIAs is California, with 5,021 RIAs.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
