Advisors are becoming a gloomy lot when it comes to the markets.
The latest version of Russell Investments’ Financial Professional Outlook has revealed that only 64 percent of advisors are holding a positive outlook on the markets for the next three years.
Not only is that down substantially from its level in 2014, when it was at a high of 87 percent, it’s the lowest level the rating has hit since the outlook was begun in 2010.
More than half of the advisors surveyed—56 percent—cited concerns about future market volatility.
Clients aren’t all that sanguine about the situation, either, with client uncertainty hitting 53 percent over worries that include issues surrounding China and emerging market economies as a whole.
Such concerns may be having an outsized impact on advisor-client conversations and serving as a distraction from long-term planning efforts.