Resource-rich Atlantic province with 541K residents and specialized wealth management
Newfoundland and Labrador's 541,000 residents, centered in St. John's (110K), benefit from resource-based wealth creation with average incomes of $52,562. The province leads in offshore oil production and mining, creating opportunities for specialized private banking in natural resources. Housing remains affordable at $321,700, while wealth management services focus on oil industry executives, mining entrepreneurs, and traditional fishing industry families with accumulated assets.
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