American Wealth Strategist’s Post

North Texas is now home to a financial service presence that now sits second only to New York City in the U.S. And growth of so-called Y’all Street is accelerating. Check out this The Wall Street Journal article about the growth in Texas and what it holds for the future. #texas #dallas #dallastx #financialhub #wsj #wallstreetjournal

🔥 The Texas economic miracle continues to rage.  Today’s highlight: financial services. From the WSJ article: “Welcome to Y’all Street, Texas’ Burgeoning Financial Hub.” 👉 Dallas now ranks second to New York City among metro areas in the number of workers employed in finance-related industries. 👉 The number of people employed in finance overall has risen 13% in Texas since 2019, compared with 2% in New York and 3% nationally. 👉 (Don’t forget about)....Florida has seen a nearly 15% increase in the number of people employed in finance since 2019, according to the bureau’s data 👉 Organizers in June announced the launch of a Texas Stock Exchange, a long-shot initiative to compete with the New York Stock Exchange and Nasdaq.  (some call it Y’all Street) 👉 “Wall Street remains the center of the investment universe, but Y’all Street is gaining rapidly,” Perryman said. JP Morgan Chase now has more employees in Texas (31,000) than in New York state (28,300). https://lnkd.in/d7jtEThq #texas #growth #finance

The #financial landscape is evolving. The below article states in part: “ Data from the Bureau of Labor Statistics shows that Texas investment-banking and securities employment has increased 111% over the past 20 years and 27% since the pandemic, compared with 16% and 5%, respectively, in New York. The number of people employed in finance overall has risen 13% in Texas since 2019, compared with 2% in New York and 3% nationally. Dallas now ranks second to New York City among metro areas in the number of workers employed in finance-related industries.” #banking #aml #digialassets #money #texas #financialservices Welcome to Y’all Street, Texas’ Burgeoning Financial Hub - WSJ https://lnkd.in/g8xYMczC

Dallas-Fort Worth is poised to become the country’s third most important financial center after New York and Chicago.  As noted by Adam Gersting, managing partner of Chicago-based West Monroe, the North Texas region has a lot going for it: “We’ve built a really optimal environment for businesses, which applies to and enables financial services and industries broadly as well.” As a result of this environment, commercial and residential real estate stand to benefit as companies and individuals continue to relocate to the area.  https://lnkd.in/gPWCQaXb

Chicago's skyline keeps rising, and so should your wealth. Cogent Strategic Wealth: Partnering with Chicago's go-getters for strategic financial growth. https://bit.ly/3tr2Aqb #Chicago #FinancialGrowth #WealthManagement #CogentSW

Dallas continues to establish itself as an epicenter of economic growth, and the following DCC member organizations are leading the charge on “Y’all Street”. Hillwood is developing a $500 million Goldman Sachs tower that will become the firm’s second-largest office outside of New York City alongside companies like Wells Fargo. JPMorganChase also boasts more employees in Texas (31,000) than in New York state (28,300).   #Texas investment-banking and securities employment has increased 111% over the past 20 years and 27% since the pandemic, compared with 16% and 5%, respectively, in New York.   #Dallas also now ranks second to New York City among metro areas in the number of workers employed in finance-related industries.   “You can do the job you’d do in New York, but in a different location,” said DCC member Andy Rabin, Head of Southwest and West Investment Banking; Aasem Khalil, DCC member and Goldman partner, added, “Dallasites want you to love Texas.” Read more here: https://bit.ly/3yEaSxY

Our next power move in the finance industry could indeed be a national stock exchange. After beating Chicago and Los Angeles for the #2 spot in finance jobs in 2023 and the two finance heavyweights, Goldman Sachs Group and Bank of America, committing to Dallas, we're a launch pad for where the industry is heading. Read more in Dallas Business Journal! #epicenterofbusiness #epicenteroffinance #finance #financeindustry #dallas #dominance #worldclass #bustling #skyline #cosmopolitan

Interesting read from WSJ on the influx of financial services firms locating in North Texas, and the attributes offered by this region to draw them here. #WSJ #NorthTexas #FinancialServices #BusinessGrowth #CitadelPartners #TheBetterFit

DALLAS—Ross Perot Jr. gestured out the window as his helicopter circled a 4.5-acre pit alongside the skyline of downtown Dallas. Texas and U.S. flags hung from a crane within it. The site is where Perot’s real-estate investment company, Hillwood, is partnering to build a $500 million Goldman Sachs tower for more than 5,000 bankers and investors. That will make it the financial firm’s second-largest office, behind New York. As the helicopter swung northwest, windows glinted from two unfinished Wells Fargo office towers, scheduled to open next year. A bit farther away: a fourth office building under construction for Charles Schwab, which moved its headquarters from California to the Dallas area five years ago, and the footprint of a Deloitte campus doubling in size. The sprawling landscape illustrates an expansion that has brought to North Texas a presence in financial services that now sits second only to New York City in the U.S. And growth of so-called Y’all Street is accelerating. “It’s stunning to watch,” said Perot, a Dallas native and son of the former presidential candidate, of the phenomenon other investors termed a finance invasion. “You’re really seeing a whole new North Texas ecosystem.” New York’s foothold on finance still dwarfs that of North Texas. But greater Dallas has largely shed its reputation as a financial backwater. Data from the Bureau of Labor Statistics shows that Texas investment-banking and securities employment has increased 111% over the past 20 years and 27% since the pandemic, compared with 16% and 5%, respectively, in New York. The number of people employed in finance overall has risen 13% in Texas since 2019, compared with 2% in New York and 3% nationally. Dallas now ranks second to New York City among metro areas in the number of workers employed in finance-related industries. Other cities, particularly in the Sunbelt, have seen growth as those services increasingly seek to be closer to customers nationwide. Florida has seen a nearly 15% increase in the number of people employed in finance since 2019, according to the bureau’s data. The Charlotte, N.C., metro area, home to Bank of America, now has more than 8% of its workforce employed in finance, compared with 6.9% in Phoenix, 6.8% in Dallas and 6.5% in New York. Ray Perryman, president of the Perryman Group, an economic research and analysis firm, said Texas has outpaced New York for several years in banking employment and is rapidly gaining in investment employment. Other major cities such as Chicago have seen minimal growth, he said. “Wall Street remains the center of the investment universe, but Y’all Street is gaining rapidly,” Perryman said.

The Lone Star State's economy continues to shine bright, with the financial sector betting big on Texas' stability and growth. 🤠🐂 JPMorgan Chase & Co. recent announcement to expand their Dallas office in less than a year is a testament to that, with Texas set to surpass NYC in total employee head count. The real estate market is also thriving in Texas, making it a prime destination for investors and driving up market prices. The Dallas Morning News: 🔗 https://lnkd.in/gqET2VF8 #TexasEconomy #RealEstateInvesting #tanyaragan #DallasRealEstate #tanyastake #TexasRealEstate #finance #economicoutlook #realestate #office #InvestmentOpportunities #Stability