A majority of advisors headed into 2010 feeling optimistic, but with a greater desire to focus on risk mitigation, according to a new survey.
The "quick poll" by the SEI Advisor Network-a survey of 442 advisors during December and January-found that 23% of advisors were optimistic and 62% were cautiously optimistic entering 2010.
Asked about the frame of mind of their clients, 61% said clients were cautiously optimistic and 36% said they were apprehensive. Only 1% described their clients as optimistic and 2% felt their clients were fearful.
An overwhelming majority, 70%, projected zero to 10% gains in 2010 for a diversified 60/40 equity-to-bond portfolio. Forty-four percent of advisors felt the economy would remain flat in 2010, while 37% expected the economy to grow stronger than expected.
Nearly half of advisors, 45%, said clients are not as risk tolerant as they originally thought.