MarketBeat.com --
- Study of average Google review scores of financial advisors across U.S. cities.
- The top placed Florida city (Orlando) came in 58th position nationally.
- Infographic showing the top cities in America for financial advisors.
Countless Americans entrust financial advisors with their financial well-being and the management of their finances. Interestingly, the choice of a financial advisor is often made through a brief internet search rather than through personal endorsements.
This means that millions of Americans could be entrusting their entire financial positions on a person who appeared on a search result, rather than a personal recommendation or other source.
MarketBeat.com carried out a study of Google review scores of financial advisors across America to identify where are the best and worst advisors. The implications of this study are important; selecting a financial advisor is not a trivial decision. The impact of their advice and strategy permeates the financial future of their clients, often shaping their long-term economic outcomes. The average Google review score nationally was 4.4.
The top 10 best cities for financial advisors:
1. Wilmington, Delaware: 4.9
2. Aberdeen, South Dakota: 4.8
3. Boise, Idaho: 4.8
4. Wichita, Kansas: 4.8
5. Omaha, Nebraska: 4.8
6. Albany, New York: 4.8
7. Bartlesville, Oklahoma: 4.8
8. Oklahoma City, Oklahoma: 4.8
9. Tulsa, Oklahoma: 4.8
10. Sioux Falls, South Dakota: 4.8
The bottom 10 worst cities for financial advisors:
1. Big Spring, Texas: 4.2
2. Alice, Texas: 4.3
3. Oak Ridge, Tennessee: 4.3
4. Murfreesboro. Tennessee: 4.3
5. Kingsport, Tennessee: 4.3
6. Jackson, Tennessee: 4.3
7. Cookeville, Tennessee: 4.3
8. Chattanooga, Tennessee: 4.3
9. Columbia; South Carolina: 4.3
10. Bristol, Rhode Island: 4.3
Infographic highlighting the cities home to the top financial advisors
Interestingly, while the most highly rated financial advisors are spread across the country, particularly striking is the discovery that 8 out of the 10 worst cities for financial advisors are located in just two states: Texas and Tennessee, suggesting regional disparities in client experiences and satisfaction.
Just 2 Florida cities placed above the national average of 4.4; three were rated as 'mediocre'; and 15 were below average. Here are their national positions, and average Google review scores (4.3 average for the state, making the state among the worst for financial advice):
58. Orlando: 4.6
62. Miami: 4.6
130. St. Petersburg: 4.4
160. Coral Springs: 4.4
162. Cape Coral: 4.4
167. West Palm Beach: 4.3
169. Tallahassee: 4.3
173. Pembroke Pines: 4.3
183. Hollywood: 4.3
184. Hialeah: 4.3
190. Clearwater: 4.3
198. Tampa: 4.2
203. Pompano Beach: 4.2
205. Palm Bay: 4.2
215. Lakeland: 4.2
217. Jacksonville: 4.2
220. Gainesville: 4.2
221. Fort Lauderdale: 4.2
230. Port St. Lucie: 4.1
232. Miramar: 4.1
Matt Paulson, founder of MarketBeat.com, commented on the findings, saying, "Our study sheds light on the fascinating dynamics of trust in the digital age. The critical takeaway for consumers is to remember that while an online review is a useful tool, it should be the starting point, not the end, of finding a financial advisor. We encourage clients to engage in comprehensive research and consider all aspects of an advisor's practice. After all, this is about your financial future, and it deserves more than just a quick Google search."