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. 

Well-Diversified Industry Sector

5,400 financial services establishments employ nearly 20,000 people1, with more than 107,000 financial services professionals2 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 Locations3.

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. after New York City.

Key Facts

  • 5,400+ financial services establishments in Connecticut4
  • #1 in the U.S. for concentration of finance talent5
  • #1 in the U.S. for finance worker productivity6
  • 23% of all U.S. finance traded cluster jobs are within 160 miles of Stamford, Connecticut7
  • #1 largest hedge fund manager in the world, Bridgewater Associates, is located in Connecticut
  • #10 in Fintech Leaders8
  • #10 in the U.S. for venture capital deals per capita9
  • $3.2 billion in venture capital was invested in Connecticut in 202210 

Connecticut is an attractive company location with its top-quality educated workforce, universities, quality of life and a focus on building strong infrastructure for growth.

— Oasis Pro Markets Founder & CEO Pat LaVecchia

Financial Services Support in Connecticut

Connecticut offers support for financial services and insurance companies looking to grow within the state. Beyond state-level assistance, organizations like Connecticut Insurance and Financial Services (CT IFS) are actively working to strengthen and support the industry. 

  • 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


Financial Services Industry 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.

1Lightcast, 2022; 2Lightcast, 2022; 3Business Facilities, 2022; 4Lightcast, 2022; 5among MSAs with over 1k finance jobs, Lightcast, Finance Traded Cluster data, 2021, AdvanceCT calculations; 6among MSAs with over 2K finance jobs, Lightcast, Finance Traded Cluster data, 2021, AdvanceCT calculations; 7Lightcast, 2021; AdvanceCT calculations; 8Business Facilities, 2022; 9Pitchbook, 2023, U.S. Census Bureau 2022 Population Estimate, AdvanceCT calculations; 10Pitchbook, 2023