In the eyes of financial advisors, President Obama is off to a sluggish start – and quite simply, he has a lot to accomplish.
First, the economy. Brinker Capital’s latest “Brinker Barometer” indicates Congress’ most important area of focus – according to financial advisors – is on fixing the economy, then on to Social Security (33 percent), followed by alternative energy (28 percent), securities regulation (22 percent) and Medicare (17 percent).
As for the president’s stimulus plan and his recent efforts to improve the economy, advisors gauge his performance a “C” at best. Forty-three percent of advisors say job creation needs to be a top priority for the government’s long- and short-term stimulus agenda, followed by tax cuts.
“Financial advisors continue to be concerned about the state of the U.S. economy and are critical of the Obama Administration’s efforts to introduce a meaningful stimulus package,” said John Coyne, president of Brinker Capital. “Fully 77% of respondents say the final stimulus plan will not be effective, while 88% of advisors contend that the plan itself was not the product of a bipartisan effort.”
What to do about retirement plans? Eighty-four percent of advisors say no to automatic enrollment requirements.