Advisors may have somewhat more faith in the U.S. Treasury Department than high-net-worth clients do.
Researchers at Phoenix Companies Inc., Hartford, uncovered that possibility recently when they polled 200 wealthy individuals and 200 advisors.
Only 13% of the participants in each group “have confidence in Congress’ ability to stabilize the markets,” and only 15% said they believe financial institutions themselves have the ability to do so, company researchers report.