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Data & Research December 16, 2007
Financial Advisers Concerned About Market Conditions
When asked what issues would have the most significant impact on businesses in 2008, advisers are most concerned about market performance/volatility (58%), retiring Boomers (54%), and the real estate bubble and credit crunch (tied at 49%).
Reported by PLANADVISER Staff
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%).
Recession Worries
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.’
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%).