When it comes to prospective clients, most advisors would probably prefer they be in good financial shape. To be sure, households with healthy balance sheets and more investible assets make for ideal clients.
The list here—which includes the 10 most financially savvy states in the country, according to a recent ranking by WalletHub.com—may serve as a valuable prospecting tool for advisors.
WalletHub scored the 50 states and the District of Columbia across four aspects: debt and spending, financial literacy, credit and saving. The website used 24 metrics within those four and weighted each one.
Massachusetts, for example, had the lowest credit card debt and lowest share of adults spending more than they earn. The state also had a high percentage of adults using online financial advice services and a high savings account average of nearly $7,000.
Click through to see the top 10 states, and some interesting data points.
