Financial advisors are predicting they will increase assets under management by an average of 17 percent this year, according to a TD Ameritrade survey released Tuesday.
About one in three advisory firms is looking to add new junior and entry-level advisors, however, only 8 percent are planning on adding new locations, according to the survey.
Independent advisors are much less worried this year about threats to their business from nationally branded firms than they were earlier. For 2016, 21 percent said they see the national firms as a threat, compared to 35 percent in 2015.
About half said they plan to spend more on marketing and advertising this year.
Less than 10 percent said they intend to retire in the next five years.
Advisors appeared “relatively unconcerned” about robo-advisers, according to the survey report, with roughly 12 percent planning on introducing a robo offering in 2015.
Nearly 80 percent of advisors have adjusted their portfolios to prepare for expected interest rate hikes.
The results are based on a survey of 382 registered investment advisors between November 23 and December 11.