"It's been a long time coming, but financial advisors are finally feeling good about the economy and their clients' financial diagnosis for the future. In fact, our Barometer showed that 49 percent of financial intermediaries painted a rosy picture of America's economic landscape, versus 26 percent in the same period a year ago," said
Among some of the Q3 2013 Brinker Barometer's key findings as listed by the Company include:
Asked to name their number one concern, advisors looked towards the nation's capital, with 61 percent of respondents saying "ineffective federal governance by both the administration and
America's standing on the global stage took it squarely on the jaw, with 64 percent of advisors saying the country's reputation is worse now than it was in the third quarter of 2012.
On a more positive note, there was consensus around who would be the best choice for Federal Reserve chief, with 48 percent of respondents picking
Dollars and Sense
When asked what changes they expect to make in their clients' investment strategy over the next 10 years, 69 percent of advisors said they would focus more on "desired personal or purpose-driven investing outcomes." This is supported by a finding in the Q1 '13 Barometer in which 87 percent of advisors noted it was more important to measure success against a client's personal goals versus a standard benchmark. Respondents also said they're "sticking to their knitting," with 78 percent indicating they will not be recommending any changes to their clients' retirement investing plans.
Market skepticism looms large when speaking with new clients, with 78 percent of respondents saying this is the greatest challenge to overcome when recommending an investment plan. Lack of investing knowledge (40 percent) and not wanting to pay investment fees for advice clients feel they can get for free from the Internet or other sources (29 percent) rounded out advisor sentiment.
In terms of asset classes in and out of favor with advisors, alternative investments is the front runner, with 57 percent of intermediaries noting they will allocate more to this asset class. Equities (54 percent) and international (46 percent) also are expected to see an uptick in allocations. In the out-of-favor column, 63 percent of respondents indicated they will allocate less to fixed income versus last year. Cash (28 percent) and emerging markets (14 percent) will also be allocated to less.
The Brinker Barometer was conducted online by
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