OAKS, Pa., Oct. 29 /PRNewswire/ -- Nearly half of financial advisors believe the upcoming elections have created "fear and uncertainty" among their clients, according to an SEI (Nasdaq: SEIC) Quick Poll released today. While elections may breed fear and uncertainty among investors, the top issues weighing on their minds, according to advisors, are continued unemployment, the potential for a double-dip recession, pending tax changes and budget deficits. The survey, conducted by the SEI Advisor Network, was completed by 238 financial advisors during the two weeks preceding the November elections.
"When there's fear and uncertainty among investors -- whether caused by an election or otherwise -- we tell advisors to do one thing and do it well: Communicate with clients," said Steve Onofrio, Managing Director, SEI Advisor Network. "Investors have many worries today and an advisor's role is to proactively communicate to clients and provide the necessary advice to ensure that they are on track towards meeting their goals in any environment. SEI has developed automated tools to help make this process easier and more efficient for advisors."
Meanwhile, a majority of advisors remain "cautiously optimistic on the economy" heading into 2011. The survey also found that the biggest barrier to their success in 2010 was "attracting new clients due to the unsettled markets." Among advisors, two key concerns remain -- tax cuts and new compliance regulations. More than two-thirds of advisors believe that a compromise will be reached and some of the Bush-era tax cuts will remain in place.
According to the survey results, 65 percent of advisors are currently on pace to reach their revenue goal for 2010. This statistic points to an ongoing need among the advisory community to attract new clients. SEI has developed several prospecting tools to help advisors target these individuals and create personalized marketing materials.
Among the 238 advisors who participated in the survey, 33 percent manage between $50 million and $250 million in assets under management. Additionally, nearly half of the advisors manage between 50 to 150 clients and nearly two-thirds (63 percent) of the advisors have more than 15 years of experience as a financial advisor.
To learn more about the SEI Advisor Network, please visit www.seic.com/advisors.
About The SEI Advisor Network
The SEI Advisor Network provides financial advisors with turnkey wealth management services through outsourced investment strategies; administration and technology platforms; trust, banking, and institutional services; and practice management programs. It is through these services that SEI helps advisors save time, grow revenues, and differentiate themselves in the market. With a history of financial strength, stability, and transparency, the SEI Advisor Network has been serving the independent financial advisor market for more than 16 years, has over 6,000 advisors who work with SEI, and $30.4 billion in advisors' assets under management (as of September 30, 2010). The SEI Advisor Network is a strategic business unit of SEI. For more information, visit www.seic.com/advisors.
SEI (Nasdaq: SEIC) is a leading global provider of outsourced asset management, investment processing and investment operations solutions. The company's innovative solutions help corporations, financial institutions, financial advisors, and affluent families create and manage wealth. As of September 30, 2010, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $402 billion in mutual fund and pooled assets and manages $164 billion in assets. SEI serves clients, conducts or is registered to conduct business and/or operations, from numerous offices worldwide. For more information, visit http://www.seic.com.