Further, when asked what they will focus on most heavily in 2007, the majority of advisers (75%) say they will spend most of their time in 2008 discussing retirement with their clients, according to a survey of financial advisers released today by OppenheimerFunds, Inc.
Advisers’ concerns in general for 2008 are: the real estate bubble (76%), credit crunch (73%), and the 2008 Presidential election (70%).
Advisers surveyed were asked about how thy plan to approach business in 2008. Forty-nine percent of advisers view female investors as the most valuable target for 2008, followed closely by Generation X (43%).
The majority of financial advisers do not think a recession is likely in 2008; only 1% of advisers believe that a recession is very likely and 26% of advisers indicate that 10% of less of their clients has expressed fears or concerns regarding the possibility of a recession.
“Advisers are optimistic about global markets,’ said economist Brian Levitt, in an Oppenheimer press release. “One of our key themes for 2008 is “global for the long-term’ and we share the view that there are great investment opportunities around the world. It’s good to see that advisers are thinking broadly across a mix of asset classes.’
In fact, advisers are so optimistic about 2008, 82% of survey respondents say that it is feasible for one particular asset class to achieve double digit returns in 2008 – most probably, according to advisers, are global stocks (cited by 41%) and growth stocks (27%).