Financial Services Driving St. Louis Economic Growth

The Stifel Building in downtown St. Louis | Photo courtesy of Stifel
Stifel is among the financial services firms that calls St. Louis home. | Courtesy of Stifel

St. Louis ranks fifth nationally in job gains in the financial services industry, according to a Forbes study that cites St. Louis’ low cost of living as an advantage. The report also said the future looks even brighter: “Places like St. Louis, where the industry has grown and approaches critical mass, seem to be in position to make a serious bid for higher-end jobs.”

St. Louis is home to several large financial services firms, including Wells Fargo Advisors, Stifel Financial, Edward Jones and Scottrade. The study referenced an April 2014 report by the Federal Reserve Bank of St. Louis that said financial services has long been a major driver of growth in St. Louis, employing 90,000, or 6.7 percent of the area’s workers, significantly higher than the national average of 5.7 percent.

Read more from the St. Louis Business Journal

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