Phil's Thoughts

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Metro Denver Considered Hot Spot for Financial Advisors

We’ve always known that Metro Denver’s strong economy, climate, and active lifestyle are just some of the appealing assets that drive financial industry employees to the region.

You only have to think back to the first of this year, when four major financial services companies announced significant expansions in the region as proof of our attractiveness to companies in this sector.

 And the good news continues to roll in. Last week, InvestmentNews, the leading news source for financial advisors, reminded us why the Mile High City presents an attractive opportunity for  financial advisors in an article titled, “Denver Stands Tall.”

To help compile the article, InvestmentNews journalist, Andrew Osterland, pulled a few leading  statistics from our annual benchmark report, which outlines Metro Denver’s strengths, challenges,  and opportunities for future job growth and economic expansion.

 According to the article, here are the two reasons why Metro Denver is a top-of-mind destination for  the financial services industry:

  1. Booming Economy:
    •  Colorado is one of 15 states that recovered all the jobs that it lost during the financial crisis and  recession.
    • Colorado currently ranks fifth in job growth in the United States, and the employment growth rate for 2013 is expected to be three percent.
    • Metro Denver has a diverse economy with a major presence in industries such as technology, biosciences, aerospace, telecommunication, energy, and financial services, to name a few. Metro Denver has managed and fostered the growth of these key industries, creating thousands of high-paying jobs.
  2. Sophisticated and Wealthy Population:
    • Colorado is the second-most highly educated state in the country, just behind Massachusetts, as measured by residents with a bachelor’s degree or higher.
    • Based on the innovation data reported in our annual benchmark report, Colorado ranks 2nd as one of the top states in all innovation measures.
    • Colorado holds the third-highest concentration of proprietors, with 25.5 percent of proprietors as a percentage of total employment in 2012.

We’re pleased to see the continued interest and investment in our financial services industry, and we’re excited about the possibilities in the new year for continued growth!

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About Phil Kalin

Phil Kalin joined Pinnacol Assurance as CEO in 2013. He has served as the chief executive of both public and privately-backed companies, including large hospital systems, as well as organizations focused on health care data, technology and education. He has been active nationally on health care topics related to insurance, data analytics, technology innovation, cost improvement and risk mitigation. Phil is providing an informed opinion on what we see in the Monthly Economic Indicators.

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About Pinnacol

Pinnacol Assurance is the Metro Denver EDC's Research Sponsor. Pinnacol is Colorado’s leading provider of workers’ compensation insurance. Pinnacol provides comprehensive, competitively priced coverage; immediate attention to claims; a highly qualified network of medical providers; and proactive safety programs to more than 55,000 Colorado businesses. Annually, Pinnacol supports nearly $500 million of Colorado’s economic activity, spends over 35,000 hours keeping Colorado worksites safe and provides compassionate care to over 40,000 Coloradans injured on the job.

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