U.S. advisors weigh in on political and industry issues


Less than half of advisors (43%) say equities will have a strong show the rest of 2014, shows a poll of 2,300 American advisors by the Financial Services Institute.

The poll also gauged advisors’ attitudes towards political and industry issues.

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Only 41% of financial advisors responded that they have a succession plan finalized and in place to pass along their practice once they retire. And only 15% of advisors said they plan to retire or sell their practice in the next one to five years.

Two-thirds of independent financial advisors believe the Republican Party will gain control of the Senate after the elections in November. And opposition to the Department of Labor’s pending rule to redefine the term “fiduciary” is at 90%. Financial advisor opposition to the Department of Labor’s fiduciary definition proposal has held steady over the past year.

“We see no sign of complacency creeping in as the rule is postponed yet again,” says FSI President & CEO Dale Brown.

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Survey results

Do you believe 2014 will end as a strong, neutral or weak year for equities performance?

Strong: 43%

Neutral: 49%

Weak: 8%

Do you believe Republicans will gain control of the Senate in the midterm elections this November?

Yes: 66%

No: 34%

Do you believe the Department of Labor (DOL) should redefine the definition of “fiduciary” for financial advisors effectively banning the earning of commissions on IRA advice?

Yes: 10%

No: 90%

Do you plan to buy/acquire another practice or book of business in the next one to five years?

Yes: 29%

No: 71%

Do you plan to buy/acquire another practice or book of business in the next 6-10 years?

Yes: 24%

No: 76%

Do you plan to retire or sell your practice in the next 1-5 years?

Yes: 15%

No: 85%

Do you plan to retire or sell your practice in the next 6-10 years?

Yes: 29%

No: 71%

Do you have a business succession plan finalized and in place?

Yes: 41%

No: 59%

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