SEI Survey: Advisors Cautiously Optimistic for Remainder of 2013
Three Quarters Expect Profits to Be Up From Last Year
OAKS, PA -- (Marketwired) -- 09/19/13 -- Despite continued economic
and market uncertainty, most financial advisors still expect 2013 to
be a good year according to a new poll released today by SEI (NASDAQ:
SEIC). In fact, the vast majority of advisors polled (75 percent)
think business profits will be better this year than last. When asked
their outlook on the market, more than half of respondents (54
percent) said they're cautiously optimistic about the remainder of
the year, and slightly more than that (58 percent) predict the S&P
index will close the year above 1650. Just about 1 in 10 advisors
polled (12 percent) said they're confident we'll see new record highs
for the S&P in the second half of the year. The poll, completed by
more than 100 advisors, suggests that advisor attitudes are becoming
increasingly optimistic despite some ongoing hurdles and uncertainty.
"We've seen it and the poll shows it, advisors are seeing strong
business results and their optimism is growing," said Kevin Crowe,
Head of Product Development, SEI Advisor Network. "No one is blind to
the fact that there are still hurdles to overcome, but you can't deny
some of the eye-opening profits that advisors are predicting for
2013. Advisors have clearly taken advantage of opportunities in the
first half of the year, and those who have the strongest business
processes in place are most likely to carry that momentum into the
end of the year and beyond."
In addition to questions about their outlook for the markets,
advisors were also asked to identify the biggest challenges to growth
for the rest of 2013. When asked what they anticipated as the top
hurdle to economic growth, the top response was "federal debt" (42
percent) followed by "tax policy" (31 percent). In terms of the top
challenges facing their businesses in the second half of the year,
advisors cited "business development" (37 percent) and "market
volatility" (28 percent) as the biggest hurdles to growth. Related to
business development, nearly two-thirds of advisors polled (62
percent) believe they will be more active with social media in the
second half of 2013 than they were in the first half.
Advisors were split when asked to predict when the Federal Reserve
will wind down its bond buying program. Exactly half of those polled
(50 percent) anticipate the program will end sometime during the
remainder of 2013. When asked which sector they think will perform
the strongest for the rest of 2013, advisors were split fairly
evenly, pointing to energy (26 percent), health care (22 percent),
and financials (19 percent), respectively. The next closest sector
was consumer staples at 16 percent, while no other sector was
selected by more than 6 percent of those polled.
This information is not meant to provide, nor be relied upon as
investment advice and conclusions cited from poll results represent
the aggregated perspectives of participants at a point in time.
Participant responses are not necessarily indicative of SEI's views
nor meant to predict future performance of the markets." Responses
were from 125 independent advisors polled at a recent SEI webinar.
About The SEI Advisor Network
The SEI Advisor Network provides
financial advisors with turnkey wealth management services through
outsourced investment strategies, administration and technology
platforms, and practice management programs. It is through these
services that SEI helps advisors save time, grow revenues, and
differentiate themselves in the market. With a history of financial
strength, stability, and transparency, the SEI Advisor Network has
been serving the independent financial advisor market for more than
20 years, has over 5,400 advisors who work with SEI, and $36.3
billion in advisors' assets under management (as of June 30, 2013).
The SEI Advisor Network is a strategic business unit of SEI. For more
information, visit www.seic.com/advisors.
SEI (NASDAQ: SEIC) is a leading global provider of
investment processing, fund processing, and investment management
business outsourcing solutions that help corporations, financial
institutions, financial advisors, and ultra-high-net-worth families
create and manage wealth. As of June 30, 2013, through its
subsidiaries and partnerships in which the company has a significant
interest, SEI manages or administers $507 billion in mutual fund and
pooled or separately managed assets, including $204 billion in assets
under management and $303 billion in client assets under
administration. For more information, visit www.seic.com.
+1 215-564-3200 x110
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