Financial advisers are more optimistic about the economy than their clients are, according to a survey by SEI.
Thirty percent of advisers said they were optimistic heading into 2011, but only 3% of advisers said their clients were optimistic.
The advisers' outlook is reflected in stock market projections among this group; 60% of advisers said that they expect a stock market gain of greater than 7%. Advisers also said the thought this year will be a better one for their businesses than 2010.
"The markets have improved, and the consensus in the industry is that things will continue to look up," Wayne Withrow, an executive vice president and SEI Advisor Network business unit leader, said in a Jan. 13 press release.
"The challenge for advisers now is how best to grow their business," Withrow added. "As investor sentiment improves and they look for new investment solutions, advisers need to find ways to attract these individuals. It's critical that advisers have a deliberate strategy for doing this in order to grow their business."
To increase revenue, advisers plan to acquire clients through new initiatives (32%), increase efforts with centers of influence (25%) and continue their existing referral process (21%).
