From the October 2008 issue of Boomer Market Advisor • Subscribe!

Boomer advisors keep the faith

Somebody has to keep the good vibes afloat. Post second quarter findings from Schwab and Brinker Capital show financial advisors are keeping a positive, though watchful, eye on the economy. Furthermore, advisors are indicating a McCain win in November will ring in a much-needed ease to the economy crisis.

Brinker Capital's "Q2 Barometer" shows 63 percent of advisors say they are either "highly confident'"or "somewhat confident" about the economy, with gas prices being top concern. And as the 2008 presidential campaign gets heated, financial advisors say the top priority of a new administration ought to be "addressing the immediate energy needs of the country," which will be better handled by a McCain Administration, according to a majority of respondents (77 percent).

Schwab Institutional's latest study of independent registered investment advisors points to similar findings, showing 71 percent of advisors feel the housing market will continue to soften, down from 81 percent who felt that way in January; Fed Chairman Ben Bernanke's approval rating has shot back up to 71 percent from 61 percent six months ago and; more than half (52 percent) of advisors think the Fed will raise rates again in the next six months.

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