Consultant kasina surveyed financial advisers to determine their assessment of current economic uncertainties and found advisers are affected by the waning consumer morale. More than half of advisers say the economy is their greatest fiduciary concern for the upcoming year. However, less than half (41%) of advisers think the economy is headed for recession, while 34% are expecting a turnaround, and 26% are yet unsure.
Adviser uncertainty is echoed in their predictions for asset class performance. International equity garnered 29% of the confidence pool, with the remaining 71% diffused among the remaining asset classes.
Asset Manager Reliance
kasina’s research found that, despite there being division and uncertainty among advisers, the vast majority still rely on asset managers for support and service. In fact, a significant 96% of advisers say that the ability of a fund company wholesaler to deliver an informed opinion at least somewhat impacts their transaction decisions.
Therefore, kasina noted, “asset managers have the potential to hold sway over advisers now more than ever. In the current pessimistic climate, asset managers must communicate clarity and thought leadership through all outlets in the distribution organization.”
For more information, please go to www.kasina.com.