The biggest worry of financial advisers – more than any other economic or geopolitical concern – is to have a Democrat in the White House, according to a new survey.
The quarterly poll by Brinker Capital Inc. talked to 236 financial advisers in December and found 22 percent indicated having a Democrat president worried them more than concerns such as global unrest, a terrorist attack or a recession, reported Investment News, an industry publication.
The survey, published in the fourth-quarter edition of the Brinker Barometer, found 15 percent of advisers listed “global unrest” as the top concern, 15 percent said “U.S. economic growth,” 13 percent chose “a terrorist attack” and 13 percent said “a recession.”
The respondents also were asked what would be their greatest tax concerns under a Democratic administration.
The overwhelming majority of advisers, 81 percent, cited a potential increase in the capital gains tax, an income tax increase and heavier taxes on dividends, Investment News reported.
John E. Coyne, president of Berwyn, Pa.-based Brinker Capital,” told Investment News that departing from “the Bush administration’s approach to taxation will have a large impact on advisers and their clients.”
“When taxes begin to erode returns, equities remain less attractive,” he said.
Investment News said the survey results are consistent with a poll Brinker conducted last summer in which 60 percent of advisers said Democratic presidential candidate Sen. Hillary Clinton, D-N.Y., would be the worst choice in terms of the economy and investing.
The same poll, conducted in August, found 36 percent of advisers saying former New York City Mayor Rudy Giuliani – then the national GOP front-runner – would have the most positive effect on the economy and investing.