A new SEI Quick Poll finds advisors consider external factors like legislation and ongoing industry scandals a significant threat to their ability to restore firm revenues.
In the poll entitled “How Are You Restoring Your Firm’s Revenue?” participants were asked to indicate what they felt to be the biggest threat to their efforts to restore firm revenue (other than market performance). While an inability to attract new clients was the number one response (33.3 percent), the threat of legislation and industry scandals came in a close second with 29.8 percent.
“The fact is that the equity markets’ negative returns already have investors panicked, so these factors only compound those fears,” said Stephen Onofrio, senior managing director, SEI Advisor Network. “That’s why it’s even more important for advisors to focus on keeping an open, proactive dialogue with clients to offset external pressures.”