Outliving Money Is Clients’ Greatest Concern

When asked to rank their clients’ greatest concerns as of the second half of 2009, advisers overwhelmingly (70%) chose “greater chance they’ll outlive their money.”

Among some of the other major client concerns, respondents selected “retirement has been placed on hold indefinitely” (61%); “will have to work in retirement” (61%); “assets will continue to be eroded by poor market performance (61%); and “will have to re-enter the workforce to make ends meet” (40%), according to the latest Brinker Barometer, a quarterly poll of financial adviser confidence and sentiment regarding the economy, retirement savings, and the market from Brinker Capital, an investment management firm.

On the other hand, when advisers were asked to rank their greatest concerns, they responded with “client losses” (66%), “client anger” (31%), and “may have to postpone retirement indefinitely” (26%).

Economic Optimism Split

The poll found that advisers are split about the outlook for the economy, and many continue to be critical about the Administration’s plan to fix it.

Asked to rank on a 1 to 5 scale (with 5 being the highest) their level of optimism that the U.S. economy will significantly improve by year-end 2009, 24% ranked their optimism as a 4, and 27% as 2, according to a release of the survey results. The majority of advisers fall somewhere in the middle, with 41% responding with a 3.

When asked about their views about Washington, 61% said the economic stimulus plan is not working, and 68% said it has no chance of delivering on its promise.

The Brinker Barometer was conducted online by Brinker Capital in June. Results are based on responses from 253 advisers affiliated with insurance companies, independent broker/dealers, and in sole practice.