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February 07, 2012 at 07:35 AM
The Financial Services Institute released poll results on Tuesday that showed Mitt Romney was the favored candidate among financial advisors to take the Republican nomination and ultimately the presidency.
Anti-Obama sentiment among advisors is so strong that when asked if they had to choose today (the survey was conducted between Jan. 30 and Feb. 6) between President Barack Obama and one other candidate, 81% chose Romney, then Rick Santorum (75%), Newt Gingrich (74%) or Ron Paul (72%).
“Financial advisors are on the front lines of securing the financial futures of hard-working Americans and they have strong and insightful opinions,” Dale Brown, FSI president and CEO, said in a statement.
Another major issue for advisors is the definition of fiduciary. Seventy-two percent of advisors say the DOL should leave it alone.
“It is clear that advisors do not believe the Department of Labor should be redefining the term fiduciary, which would price millions of Americans out of advice on their IRAs,” Brown (left) said. “The Department would do well to listen to these advisors and keep their expert opinions in mind as they move forward in their process.”