Where Financial Advisor Income Grew Most – 2026 Study

Financial advisors’ earnings are shaped by a range of factors beyond individual skill or experience, including client volume, wealth, and income; target market; fee model and geography. Because economic conditions vary widely across the U.S., some areas may present stronger opportunities for advisors seeking to expand their practices. As remote work capabilities continue to improve, advisors may also be able to access promising markets without necessarily living in them.

SmartAsset analyzed newly released Bureau of Labor Statistics data to determine which states saw personal financial advisor income grow the most between 2024 and 2025, the most recent full year for which data is available. The study also measured one-year changes in estimated employment for personal financial advisors in each state. Advisors can use these findings to guide hiring, marketing and broader business strategy.

Key Findings

• Oregon leads for increases in both income and employment. Financial advisors in Oregon led the nation for percentage increase in income, with median earnings jumping 53%. With a nearly 45% increase in estimated employment, Oregon was also No. 1 for employment growth in the profession. 
• Idaho goes from hero to zero. In SmartAsset’s 2025 study, financial advisors in Idaho led the nation in median income growth, with earnings rising 44%, from $94,980 in 2023 to $136,440 in 2024. In the current study, Idaho saw the largest decline in median income among financial advisors, with earnings falling nearly 31%. 
• At the state level, advisors in New York earn the most. As in SmartAsset’s 2025 study, advisors in New York have the highest median income nationwide, at $166,400.
• Income increased in most states. Of the 40 states for which data was available, all but 11 saw median income increase among financial advisors.

10 States Where Financial Advisors Earn Most

1. New York
   • Median income (2025): $166,400
   • One-year change in median income: -0.9%
   • Estimated employment (2025): 21,550
2. New Jersey
   • Median income (2025): $158,570
   • One-year change in median income: 28.2%
   • Estimated employment (2025): 9,300
3. California
   • Median income (2025): $130,330
   • One-year change in median income: 1.3%
   • Estimated employment (2025): 32,200
4. South Dakota
   • Median income (2025): $128,720
   • One-year change in median income: 4.3%
   • Estimated employment (2025): 620
5. Massachusetts
   • Median income (2025): $125,670
   • One-year change in median income: 24.0%
   • Estimated employment (2025): N/A
6. Delaware
   • Median income (2025): $125,050
   • One-year change in median income: -2.4%
   • Estimated employment (2025): N/A
7. Oregon
   • Median income (2025): $122,830
   • One-year change in median income: 53.2%
   • Estimated employment (2025): 3,070
8. Illinois
   • Median income (2025): $120,130
   • One-year change in median income: 15.2%
   • Estimated employment (2025): 9,760
9. Wisconsin
   • Median income (2025): $119,430
   • One-year change in median income: 3.2%
   • Estimated employment (2025): 5,200
10. Washington
    • Median income (2025): $114,040
    • One-year change in median income: 1.8%
    • Estimated employment (2025): 5,790

Methodology

This study examined data for 40 states for which data was available. Wage data and estimated employment data comes from the Bureau of Labor Statistics for 2025 and 2024 for the personal financial advisor profession. States are separately ranked by the highest percentage growth in median personal financial advisor income over one year. Source data providers are not affiliated with, and do not endorse or sponsor, this study or its findings.