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. About SEI 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. Company Contact: Dana Grosser SEI +1 610-676-2459 email@example.com Media Contact: Jason Rocker Braithwaite Communications +1 215-564-3200 x110 firstname.lastname@example.org
SEI Survey: Advisors Cautiously Optimistic for Remainder of 2013
Press spacebar to pause and continue. Press esc to stop.