There has been a great deal of change in the political landscape recently, and we have recently polled our members about their outlook on politics, the industry and other relevant topics. More than 2,500 of our independent financial advisor members responded to the poll, which focuses on the recent and possible future government shutdown, the economy, taxes and other issues impacting their Main Street clients.
According to poll results, independent financial advisors were split on whether the recent government shutdown negatively affected their clients. A significant majority of respondents (77%) believe that a short-term fix will be passed to avoid another shutdown early next year. More than half of advisors (57%) said the economy will stay flat in 2014, while 59% expect a neutral performance from the equities markets next year. And opposition to the Department of Labor’s pending rule to redefine the term “fiduciary” continues to hold strong at 91%. Only 57% of financial advisors responded that they have a succession plan finalized and in place to pass along their practice once they retire.
“Financial advisors are clearly paying attention to policy and politics as Washington becomes more and more a part of their planning for their clients,” noted FSI President & CEO Dale Brown.
What’s your take on recent current events as they relate to the industry? We’d love to hear from you in the comments section!