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.
Advisors and wealthy individuals expressed different reviews about the relative merits of President Obama and the Treasury Department.
About 43% of the wealthy individuals and 37% of the advisors said they thought Obama would succeed at stabilizing the markets; 33% of the wealthy individuals and 45% of the advisors said they thought the Treasury Department would stabilize the markets.