Surveys
Golden State Dominates "Rich And Single" List

Anyone looking for a well-heeled partner would be well advised to move to California, as the state dominates the top five places to live in terms of its family median income and single population, according to CNN Money’s latest list.
Manhattan Beach, California tops the list, with a high proportion of single people (30.2 per cent) and a median family income of $154,860. With an overall population of 34,607, that adds up to 11,074 single people.
Next on the list is Tysons Corner, Virginia, where the single population accounts for 32.1 per cent of the population, and the median family income is $143,749.
In third place is Beverley Hills, California. In this famous address, median family income is $142,180, and single people make up 30.4 per cent of the population.
In fourth place is Hermosa Beach, California, where the single population accounts for almost half the entire population, at 47.5 per cent. Meanwhile, this “beach paradise” has a median family income of $134,033, says CNN Money.
In fifth place is Madison, New Jersey, where 31.7 per cent of the population are single, and median family income is $131,529.
However, the list makes no breakdown in terms of the age groups of the single population, nor does it give further details on other measures of income, such as the mean. With only a median income given, incomes could be highly skewed.
For wealth managers looking to pick up HNW and UHNW clients though, that might not be a bad thing. The golden state certainly has its fair share of overall wealthy residents. It featured top of Wealth-X’s list last year, with about 9,800 people worth more than $30 million living there.
This is despite a relatively high level of state income tax, at 9.3 per cent, paid by everyone earning over $46,767 a year. On the other hand, many of the world’s technology giants are based in the region.
A number of wealth management firms are trying to increase their share of the Californian market. To name but a few: Boston-based Silver Bridge opened an office in Berkeley this month; last month Washington Wealth Management established itself in the state, and Signature Estate and Investment Advisors expanded with a new office in Redondo Beach.
Furthermore, if gold-diggers catch wind of these figures, lawyers specializing in HNW pre-nups and divorces could do a roaring trade.