U.S. advisors want Mitt Romney to win the 2012 presidential election, but expect Obama will be victorious, says an SEI Quick Poll.
The survey respondents, half of which were advisors with more than 20 years experience and $150 million AUM, said they expect the November presidential elections will result in a split government rather than a clean sweep by one side.
American advisors are both worried and optimistic about their economy, with deep concerns about its ongoing recovery.
Yet, they predict strong stock-market gains for 2012. Also, the majority (77%) says the economy will recover, but needs time. Their major worries include entitlements, log jams in Congress and tax increases in 2013.
“Regardless of who wins the November election, advisors are keenly aware that what happen will impact markets and their clients,” says Steve Onofrio, managing director of SEI Advisor Network.
He adds, “Advisors must keeping an eye on shifting global economic and political landscapes while still managing every other aspect of their businesses effectively.”
“There are reasons to be optimistic and advisors need to communicate this to their clients, so the ‘pessimism bubble’ doesn’t continue to hang over them,” says Kenneth Klabunde of City Wealth Advisors in Indiana.