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Advisors Express More Optimism About The Economy

If you are still pessimistic about the economy, you may feel better knowing that financial advisors are becoming more optimistic.

Many wealthy investors are more pessimistic than their advisors are about the direction of the economy, according to a Charles Schwab survey taken in April. For instance, 27% of wealthy investors believe there will be another recession, compared with just 14% of advisors, according to the Independent Advisor Outlook Study.

Of the nearly 900 independent advisors surveyed, 45% were bullish about markets during the second half of 2012. In a related survey of 504 high-net-worth investors, only 29% were bullish, however.

While most investors were confident their advisors could meet their goals, 57% expressed concern over low returns and 37% were worried about market losses.

“It matters less whether clients are optimistic or pessimistic and more that they are realistic about the outcomes they are working toward,” says Bernie Clark, executive vice president and head of Schwab Advisor Services. “This is where advice really takes center stage—providing perspective and expertise within the context of an individual client’s long-term goals.”

According to the survey, advisors also are more optimistic than investors about unemployment rates, inflation trends, and energy prices. The overall bullishness of these market pros may help you feel more confident about the economy and the markets.

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This article was written by a professional financial journalist for LifePlan Of New York and is not intended as legal or investment advice.

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