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10. (Tie) Rochester, N.Y.

Rochester, N.Y.

RIAs in 2011: 5
AUM in 2011: $214 million

RIAs in 2010: 1
AUM in 2010: $14 million

This medium-sized city in northern New York is home to such big companies as Kodak and Bausch & Lomb, plus a major scientific research center. It has a diverse economy and top-shelf universities.

Photo: Richard Cummins | Robert Harding World Imagery | Getty Images