The Financial Services Institute (FSI) is bullish on Mitt Romney's chances of winning both the Republican nomination and the 2012 presidential election, based upon a poll of FSI members that focuses on national politics, the economy and other business issues that was released today.

According to the survey, former Massachusetts Gov. Romney is the runaway favorite to win the Republican nomination and, ultimately, the presidency with the 2,938 financial advisors who completed the survey.

FSI members also believe that the Senate will shift to Republican control; that the economy will stay flat while taxes go up; and that the Department of Labor (DOL) should not redefine the term "fiduciary."

Conducted in-house, the survey link was sent to FSI's estimated 35,000 members, who completed the questionnaire through a secure database. The survey was conducted between Jan. 30 and Feb. 6.

FSI President and CEO Dale Brown said the FSI survey also indicates that its members hold a firm position on the Department of Labor's role in redefining the industry term "fiduciary.''

"It is clear that advisors do not believe the DOL should be redefining the term fiduciary, which would price millions of Americans out of advice on their IRAs,'' Brown said. "The DOL would do well to listen to these advisors and keep their expert opinions in mind as they move forward in their process.''

The survey yielded the following results:

Who do you believe will be the GOP presidential nominee?

?Mitt Romney     2,613     90%
?Ron Paul                22       1%
?Newt Gingrich      248       9%
?Rick Santorum      32        1%

If the election were held today, would you vote for President Obama or Mitt Romney?

?President Obama    536     19%
?Mitt Romney        2,356     81%

If the election were held today, would you vote for President Obama or Ron Paul?

?President Obama          804     28%
?Ron Paul                    2,041    72%

If the election were held today, would you vote for President Obama or Newt Gingrich?

?President Obama        753     26%
?Newt Gingrich           2,102    74%

If the election were held today, would you vote for President Obama or Rick Santorum?

?President Obama       718     25%
?Rick Santorum         2,152    75%

Will the U.S. Senate stay in Democrat control or shift to Republican control?

?Democrat           901     31%
?Republican        1,996    69%

Do you believe capital gains taxes are heading up or down?

?Up          2,605      91%
?Down        273        9%

Do you believe 2012 will be a strong, neutral or weak year for equities performance?

?Strong      1,047    36%
?Neutral      1,621    56%
?Weak          252       9%

Do you believe the Department of Labor should redefine the definition of fiduciary for financial advisors giving advice on IRAs?

?Yes           798      28%
?No          2,078     72%

Will the US economy recover in 2012, stay flat or worsen?

?Recover        1,126    38%
?Stay flat        1,618    55%
?Worsen           181      6%

-Jim McConville

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