NEW YORK, Oct. 29, 2012 (GLOBE NEWSWIRE) -- The Advisor Confidence Index (ACI), a benchmark that gauges advisor views on the U.S. economy and stock market, reports that advisor confidence increased slightly in October, with the index increasing 0.91% from the September level to close at 95.65.
Survey participants shared their views on the current market environment. "Financial market conditions have reached conditions which have preceded major dislocations and crashes in the past; the present is not likely to be any different," said James Daley of TEAM Financial Managers.
"The economy will trudge along, swimming upstream against fiscal austerity and the need for some modest tax increases," said Gregory Horn of Persimmon Capital Management.
Other advisors expressed how the upcoming election could have an impact on the state of the economy in the months that follow. Kenny Landgraf of Kenjol Capital Management LLC said that seasonality patterns should take the market higher over the next six months. He believes that, currently, the market is in a wait and see mood as the nation elects the next president, and once that is determined, the narrative and direction of the pending fiscal cliff will be based upon the future balance of power between the executive and legislative branches of government.
Three of the four components of the ACI experienced an increase over the prior month, with the six-month economic outlook experiencing the biggest percentage change:
|Current economic outlook||+1.15%|
|Six-month economic outlook||+4.35%|
|12-month economic outlook||-3.38%|
|Stock market outlook||+1.15%|
Graphs accompanying this are available at https://media.globenewswire.com/cache/16530/file/16394.pdf
About Advisor Confidence Index's Methodology
The Advisor Confidence Index is a benchmark that gauges advisors' views on the economy. Modeled after the Conference Board Consumer Confidence Index®, the ACI captures the sentiments of 150 independent registered investment advisors (RIAs). The index's analysis is based on the number of completed surveys and reflects only information from those surveys. This information is intended to be general in nature, and these overviews are no substitute for professional, legal, or consulting advice. This information should not be construed as advice from Rydex AdvisorBenchmarking, Inc. or any of its affiliates.
About Rydex AdvisorBenchmarking, an affiliate of Guggenheim Investments
Rydex AdvisorBenchmarking is a research and analysis center focused on the registered investment advisor (RIA) marketplace. Every year through its survey website, www.AdvisorBenchmarking.com, the firm conducts multiple surveys of advisors, covering a host of business management and investment management practices. The findings and analysis of the data are then released to the marketplace as annual studies, quarterly research notes, monthly newsletters, and a confidence index. The service is aimed at helping advisors grow and enhance their firms by comparing how their businesses fare against other advisors. Advisors also learn best practices of the most successful advisors in the business. AdvisorBenchmarking is an affiliate of Guggenheim Investments.
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