A Global Leader in Asset Management and Financial Services

Connecticut’s financial services industry has thrived for decades thanks in part to the state’s cluster of global insurance leaders and its proximity to New York City, the largest financial center in the world. More than 23% of all U.S. finance traded cluster jobs are within 160 miles of Stamford¹, one of the fastest growing cities in the nation and one of the state's major financial centers. 5,800 financial services establishments employ nearly 20,000 people², with more than 107,000 financial services professionals³ across various industry sectors in the state also stimulating growth in other areas of the Connecticut economy, including legal, accounting, and technology services. Emerging clusters of fintech startups and innovators have further positioned Connecticut as a leader in financial services, resulting in the state being named one of the top 3 Forward Looking Financial Locations⁴and the capital Hartford ranking #9 for U.S. fintech leaders⁵.

“Whoever says that Fairfield County (Connecticut) is not a place to draw people, and you need to go to a place like New York City, completely has it wrong... This is a place that's really going to be able to command us to get good paying career jobs for people in the industry.”

— Joseph Larizza, Managing Director of iCapital

The state is also home to one of the largest concentrations of hedge funds in the world, with 10 of the world’s largest hedge funds located here, including Westport-based Bridgewater Associates, the largest hedge fund globally. Connecticut houses the second highest level of hedge fund capital in the U.S. only after New York City. Connecticut also has one of the most active venture capital ecosystems in the country, supported by the wealth in the financial sector — more than $770 million in venture capital was invested in the state in 2023⁶.

Notable Financial Services Employers in Connecticut

Business Formation Verification

Sole proprietorships and general partnerships require a tradename certificate with the Town Clerk in the town in which the business is based. Currently there is no centralized look-up and requires you to contact the town directly.

Corporations, LLCs, LLPs and LPs file with the Connecticut Secretary of the State. Search Connecticut Business Registration Data.

Professional or Trade License Verification

The Connecticut eLicense web portal provides real-time access to over 600 credential types issued and regulated by the following State agencies. These credential types include licenses, registrations, permits, or certifications for individuals, organizations and facilities.

To view a list of the licenses administered by the agencies click on the agency link provided below.
* Consumer Protection
* Public Health
* Agriculture
* Connecticut Agricultural Experiment Station
* Office of Early Childhood & Youth Camp
* Developmental Services
* State Fire Marshal
* Revenue Services

Additional agencies offer their own verification systems. Use the links below:
* Insurance
* Banking

The following details provide guidance for an existing business wishing to make changes to their existing business filings. If changing the business structure, it is recommended that legal counsel be sought.

If you are forming a subsidiary, please review the separate item addressing that topic.

Secretary of the State
(860) 509-6002 or crd@ct.gov
Agency website: https://portal.ct.gov/sots
- Forms to complete the following tasks are available on the agency website at the following link: form or online
  - Change of business address
  - Change of agent and agent address
  - Add or remove manager, member, partner, officer - Interim Notice of Change
  - Change of name or any other particular of your filings - Amendments (this can not be filed online)
    - LLC - domestic (formed in CT) or foreign (formed outside of Connecticut)
    - Corporation- domestic or foreign stock or nonstock
    - LLP - domestic or foreign
  - Changing the structure requires the business to dissolve the existing business and then create a new structure.
Connecticut Department of Revenue Services
800-382-9463(instate only), (860) 297-5962 or drs@po.state.ct.us
Agency website: https://portal.ct.gov/drs
- Change of address
- Change of business name or DBA
- Change business structure
- Updating members, officers, partners
- Add new business location
- Add new tax type to existing registration - refile form REG-1 or complete online application
Connecticut Department of Labor
860-263-6550
Agency website: www.ctdol.state.ct.us
- Compose a letter stating the reason for the change and include previous registration information. Fax to 860-263-6567 or mail to Attention: Employer Status, Connecticut Department of Labor, 200 Folly Brook Boulevard, Wethersfield, CT 06109.
  
  If changing business structure and/or Federal Employer Identification Number with the IRS, re-file form UC-1A. Compose a letter stating the change and reason.
Internal Revenue Services (IRS)800-829-4933
Agency website: www.irs.gov
- Change business name
- Change business address (see below)
- Change business structure
  
  Compose a letter stating the change including the current Federal Employer Identification Number (FEIN) and apply for a new EIN. If changing the business structure, the business must dissolve. Mail the letter to Internal Revenue Service, EIN Operation, Holtsville NY 00501 or fax to 631-447-8960.
Additional Agencies
Each agency handles changes differently. For more information contact the individual agencies directly.

Financial Services Employers

Bridgewater Associates

Bridgewater Associates is one of the most recognizable names in the hedge fund and asset management industry. The largest hedge fund on the planet (in terms of total AUM) is headquartered in Westport, CT, employing more than 1,300 people. Bridgewater is a cornerstone of Connecticut’s hedge fund industry, second only to New York City in the U.S., with hundreds of other funds mainly concentrated on Connecticut’s Gold Coast, the area of Fairfield County in closest proximity to New York City. Bridgewater has leveraged this proximity and the talent available in this area to become the leader in its field.

WR Berkley

W.R. Berkley Corporation is a Fortune 500, leading U.S.-based insurance holding company headquartered in Greenwich, CT. As a key player in Connecticut's insurance industry, Berkley operates numerous subsidiaries that provide a wide range of property and casualty insurance solutions, including commercial and specialty lines. The company’s location, about 30 miles outside of New York City, allows it to leverage Connecticut’s position as a hub for the financial services sector, contributing to the state’s economy and reputation in the global insurance market.

SS&C

Started in a basement in Windsor, CT nearly 40 years ago, SS&C has grown into one of the leading providers of software and software as a service to the financial services industry. The Fortune 1000 company has been steadily marching up the list as it continues its rapid growth, counting some of the biggest names in asset management as its clients. Employing 26,000 people across every continent, SS&C and its subsidiaries enable their clients in specialist fintech markets, such as fund administration, wealth management, insurance and pension funds, and property management, to streamline their operations.

Synchrony Financial

Fortune 500 company Synchrony is one of the largest consumer financial services companies in the world and a cornerstone of the Connecticut financial services industry. Headquartered in Stamford, CT, Synchrony has become the largest provider of private-label credit cards in the U.S., with brand partners like Amazon, Walmart, and Verizon. Synchrony has partnered with UConn on two separate occasions to create the Synchrony Center of Excellence in Cybersecurity within the School of Engineering and opened the Synchrony Digital Technology Center at UConn Stamford to continue training the talented workforce that has enabled the company to thrive here.

Key Facts

in the U.S. for concentration of finance talent⁷

in the U.S. for venture capital deals per capita⁹

in the U.S. for finance worker productivity⁸

in Fintech Leaders¹⁰

Industry Subsectors

Financial Services Support in Connecticut

Financial Services

Industry Resources

Connecticut Insurance + Financial Services (CT IFS) — a statewide initiative of the MetroHartford Alliance comprised of 32 member companies in Connecticut’s insurance and financial services sector, the mission of CT IFS is to strengthen and advance the insurance and financial services industry in Connecticut
Connecticut Innovations (CI) — Connecticut’s strategic venture capital arm and the leading source of financing and ongoing support for innovative, growing companies
CONNSTEP — a business consulting firm focused on identifying opportunities for growth, improving productivity, and ensuring competitiveness

Optimize Site & Operations

Reduce Taxes

Corporate Business Tax Credit
Insurance Reinvestment Fund
Human Capital Tax Credit
Learn about more State incentives and programs

Financial Services Sector Snapshot

◄ Get an in-depth look at Connecticut’s financial services industry cluster.

industry trends and dynamics
concentrations of talent and workforce pipelines in Connecticut
Connecticut's regulatory environment
logistical and infrastructure considerations
the state’s strengths for companies in the state
data and resources for companies seeking market entry into Connecticut

Learn more about Connecticut's key industries in our detailed snapshots.