Advisors Upbeat on Practice Growth in ‘11

Most financial advisors expect their businesses to grow in 2011 at a brisk pace, according to the latest Financial Professional Outlook survey sponsored by Russell Investments. Of the 800-plus advisors surveyed in the quarterly poll, nearly a third (31 percent) predict revenue growth of 10-14 percent this year and almost half (44 percent) expect to see revenue growth of 15 percent or more in 2011.

“The latest survey results convey a renewed sense of confidence and optimism amongst advisors, about not only the capital markets but also their own businesses,” said Kevin Bishopp, director of practice management for Russell’s private-client services business, in a press release. “While the global economic recovery continues slowly, investor panic has largely subsided,” Bishopp explained, “and advisors are now able to shift their focus back to meaningful long-term planning and wealth accumulation instead of triaging client concerns and addressing their anxieties.”