Number of Investment Advice Businesses in the US (2000–2023)
As of 2023
52,814
investment advice businesses in the United States
Number of Firms Over Time
Total Employment Over Time
Key Insights
- •The investment advice industry has grown 110.9% since 2000 (from 25,041 to 52,814 firms).
- •The peak year was 2023 with 52,814 firms.
- •Recent trend (last 5 years): the industry is growing (+13.3%).
- •Employment: 648,132 workers in 2023 (103.6% change since 2000).
- •Estimated 5-year survival rate: 66%.
Year-by-Year Data
| Year | Firms | Establishments | Employment | Entry Rate | Exit Rate | Net Growth |
|---|---|---|---|---|---|---|
| 2023 | 52,814 | 75,932 | 648,132 | 11.0% | 8.0% | +5.0% |
| 2022 | 51,397 | 73,701 | 615,773 | 11.8% | 8.2% | +6.9% |
| 2021 | 49,230 | 70,782 | 576,489 | 11.7% | 7.9% | +1.1% |
| 2020 | 47,777 | 68,387 | 580,020 | 10.9% | 8.0% | +1.5% |
| 2019 | 46,606 | 66,447 | 570,245 | 9.6% | 7.8% | +1.1% |
| 2018 | 45,909 | 65,495 | 561,643 | 10.2% | 8.9% | +4.3% |
| 2017 | 44,841 | 64,708 | 533,655 | 10.4% | 8.2% | +2.4% |
| 2016 | 43,393 | 51,759 | 489,626 | 16.6% | 10.2% | +2.6% |
| 2015 | 42,375 | 48,388 | 481,505 | 13.2% | 11.6% | +1.1% |
| 2014 | 41,001 | 47,489 | 475,908 | 14.1% | 9.7% | +3.0% |
Source: U.S. Census Bureau, Business Dynamics Statistics (BDS). Entry/exit rates refer to establishment openings and closings.