SEI Survey: Advisors Gaining Confidence in Romney Victory20 Percent Said Fiscal Cliff Can't Be Avoided, Regardless of Who Wins the Presidential ElectionMarketwire
OAKS, PA -- (Marketwire) -- 09/20/12 -- In a surprising shift, the majority of financial advisors (52 percent) now believe Mitt Romney will win the 2012 presidential election, according to an SEI (NASDAQ: SEIC) Quick Poll released today. This is a significant change in sentiment from a similar poll conducted by SEI in May, where nearly 2 in 3 advisors (63 percent) believed President Barack Obama would win. The number of advisors who want Romney to win remained unchanged at 74 percent. The results point to a growing confidence in a Romney victory among financial advisors despite a slight bump in most national polls for Obama following the recent national conventions.
The poll indicates that economic concerns prevail among advisors, as 1 in 5 polled said they don't have confidence that either candidate will be able to avoid the fiscal cliff. The majority of advisors polled (56 percent) are more confident that Romney will avoid the fiscal cliff, while 12 percent are more confident that Obama will, and 11 percent believe they'll figure it out regardless of who wins. The majority (79 percent) believe Romney's policies will have a more positive effect on the economy.
The survey, completed by 130 financial advisors, shows that the overwhelming majority of advisors (86 percent) believe their political views are similar to their clients. There was a split on the importance of those views, as just under half of those polled (44 percent) believe their political views are important to clients when working with a financial advisor, while the majority (56 percent) believe they are not.
"Whether it's a renewed confidence coming out of the conventions or simply wishful thinking, advisors are starting to believe that Romney will win this election," said Steve Onofrio, Managing Director, SEI Advisor Network. "Recent events clearly demonstrate that public opinion can change quickly. But no matter what happens, the poll shows that most advisors believe that political views are not central to their client relationships. The most important thing for advisors is to keep doing what they do best -- serving their clients and making their business the top priority."
Not surprisingly when asked which candidate they thought would make a better financial advisor, the overwhelming majority of respondents (84 percent) said Romney. When asked whether they were better off as advisors today than they were four years ago, respondents were split down the middle, with 49 percent of respondents answering "no" and 51 percent saying "yes."
About The SEI Advisor NetworkThe 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 16 years, has over 4,900 advisors who work with SEI, and $31.7 billion in advisors' assets under management (as of June 30, 2012). 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, 2012, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $424 billion in mutual fund and pooled or separately managed assets, including $182 billion in assets under management and $242 billion in client assets under administration. For more information, visit www.seic.com.