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10 Best Cities for Young FAs

Charlotte, NC, Oakland, CA and Chesapeake, VA are among the best cities in America for young financial advisors to start their careers, according to a study from SmartAsset. So reports KAKE, a Wichita-based affiliate of ABC.

man 5434480 640.jpegThe study found that Virginia cities “may be up-and-coming spots for financial advisors,” while coastal cities, in general, dominated the top 10 rankings in the study. The top ten include:

  • New York, NY
  • San Francisco, CA
  • Chicago, IL
  • Charlotte, NC
  • Oakland, CA
  • Miami, FL 
  • Virginia Beach, VA 
  • Freemont, CA
  • Portland, OR
  • Chesapeake, VA

For the study, SmartAsset compared 100 of the largest U.S. cities based on average FA earnings, rent as a percentage of those earnings, FA search volume, “percentage of high-earning households and percentage of the population nearing retirement.”

In New York, for example, the average FA salary is $165,800 and there are many residents that earn a lot of money and are looking for help. In San Francisco, the average is $157,700, with almost 30% of households earning $200,000+ a year.

In Chicago, FAs earn an average of $150,000, while those in Charlotte, NC make an average of $146,410. Meanwhile in Oakland, FAs earn an average of $157,700.

Read the full article from KAKE.

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