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Where is it easiest to open: Trust, Fiduciary, and Custody Activities
49 states, side by side. Operator counts and wages from Census and BLS; licence records matched on “SOC 13-2052” (soc) for Personal Financial Advisors. A blank gate means NO RECORD MATCHED, which is not the same as no licence.
| State | Operators | Avg staff | Pay / employee | Gate | Licence titles matched |
|---|---|---|---|---|---|
| CA | 514 | 3.7 | $100,269 | licence | Investment Adviser Certificate; Professional Fiduciary License |
| TX | 275 | 6.5 | $127,045 | licence | SECURITIES DEALER/INVESTMENT ADVISOR |
| FL | 239 | 3.6 | $135,182 | licence | Central Registration Depository (CRD) |
| NY | 210 | 14.6 | $166,321 | not matched | — |
| GA | 85 | 29.0 | $100,497 | exam | Investment Advisor |
| AZ | 85 | 3.7 | $84,519 | licence | Fiduciary; Investment Adviser |
| NV | 78 | 5.9 | $110,382 | not matched | — |
| PA | 75 | 107.4 | $110,809 | not matched | — |
| WA | 75 | 5.7 | $104,108 | exam | Financial Planner; Investment Advisor |
| MA | 74 | 16.9 | $143,586 | exam | INSURANCE ADVISER; INVESTMENT ADVISER/REPRESENTATIVE |
| CO | 73 | 9.0 | $154,517 | exam | Investment Advisory Representative |
| NC | 69 | 3.9 | $112,895 | exam | Investment Adviser; Investment Adviser Representative |
| IL | 67 | 43.9 | $115,690 | licence | INVESTMENT ADVISOR REPRESENTATIVE |
| NJ | 58 | 10.5 | $120,416 | not matched | — |
| TN | 53 | 6.6 | $167,565 | not matched | — |
| OH | 48 | 4.8 | $139,463 | not matched | — |
| DE | 46 | 8.8 | $124,342 | not matched | — |
| MI | 41 | 9.8 | $113,710 | exam | Investment Advisor |
| WI | 39 | 12.5 | $133,002 | exam | INVESTMENT ADVISOR; INVESTMENT ADVISOR REPRESENTATIVE |
| OR | 39 | 4.0 | $78,667 | licence | Investment Adviser Representative |
| UT | 38 | 3.7 | $85,915 | licence | SECURITIES-INVESTMENT ADVISER |
| CT | 37 | 2.3 | $152,302 | not matched | — |
| SC | 37 | 3.8 | $93,350 | not matched | — |
| MD | 32 | 70.1 | $92,192 | not matched | — |
| MN | 31 | 6.3 | $119,443 | licence | Financial Counselor or Planner; Investment Advisers and their Represen |
| IN | 29 | 12.6 | $132,730 | not matched | — |
| KS | 28 | 8.1 | $103,119 | exam | Investment Advisor |
| SD | 27 | 10.9 | $98,768 | licence | Investment Adviser |
| MO | 25 | 48.2 | $70,708 | not matched | — |
| WY | 20 | 2.7 | $137,519 | not matched | — |
| OK | 20 | 5.7 | $139,407 | licence | Investment Adviser; Investment Adviser Representative |
| VA | 15 | 2.3 | $74,486 | not matched | — |
| KY | 14 | 2.9 | $162,341 | licence | Securities-Investment Adviser Represen |
| ID | 12 | 3.0 | $84,556 | exam | Securites Investment Advisors & Broker; Securities Sales Agents and Investment |
| MT | 12 | 2.5 | $75,600 | not matched | — |
| ME | 11 | 22.2 | $125,373 | exam | Investment Advisor |
| NH | 11 | 9.1 | $290,510 | exam | Investment Adviser Agent |
| NE | 10 | 4.8 | $124,896 | licence | Investment Adviser; Investment Adviser Representative |
| AL | 10 | 2.4 | $99,083 | exam | Licensed Personal Financial Advisor |
| LA | 9 | 2.0 | $130,444 | not matched | — |
| DC | 8 | 7.4 | $198,915 | not matched | — |
| AK | 7 | 1.3 | $150,556 | licence | Investment Broker-Dealer and Related O |
| NM | 7 | 6.1 | $68,372 | exam | Investment Advisers Representative |
| IA | 7 | 80.1 | $72,421 | licence | Investment Advisor Representative |
| MS | 6 | 7.2 | $68,628 | not matched | — |
| HI | 6 | 5.3 | $88,188 | not matched | — |
| RI | 5 | 1.8 | $149,444 | licence | Investment Adviser Representative (IAR |
| AR | 3 | 5.7 | $223,941 | licence | Investment Advisor; Investment Advisor Representative |
| ND | 3 | 6.0 | $86,944 | exam | Investment Advisor Representatives; Investment Advisors |
Axes are shown side by side and deliberately NOT collapsed into a ranking. A composite would be a score with no measured interval, and an unmeasured score is the thing this product exists to argue against. A high licence gate is a cost to enter and a moat once cleared — which of those matters more is the operator's call, not ours.
Licence data courtesy of CareerOneStop, sponsored by the U.S. Department of Labor. Free to read, no account, always — a condition of the data licence as well as our own position.