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SEI Quick Poll: Majority of Advisors Want Romney, but Expect Obama VictoryOAKS, PA, May 30, 2012 (MARKETWIRE via COMTEX) -- Financial advisors want Mitt Romney to win the 2012 presidential election, yet a majority expect President Barack Obama will be victorious, according to an SEI (NASDAQ: SEIC) Quick Poll released today. Additionally, an overwhelming majority believe the November elections will result in a split government, rather than a clean sweep by either party. When it comes to the economy, advisors are both worried and optimistic. They have concerns about the economic recovery and issues in Washington, yet they predict strong stock-market gains for 2012. The survey was conducted by SEI at its National Strategic Advisor Conference held in May for more than 125 financial advisors. The group of leading advisors gave mixed signals on sentiments related to the economy. On the one hand, a majority of advisors (77 percent) said that the U.S. economy will recover, but it will "take time." That said, two-thirds of advisors said the "pessimism bubble" is here to stay. When it comes to what advisors are most worried about, it isn't gas prices, interest rates, unemployment, or the housing market. Instead, the top concerns for advisors, by a wide margin, are entitlements, log jams in Congress, and tax increases in 2013. "Regardless of who wins the November election, advisors are keenly aware that what does or does not happen in Washington has a direct impact on the markets and, ultimately, on their clients' portfolios," said Steve Onofrio, Managing Director, SEI Advisor Network. "The challenge for advisors is keeping an eye on the shifting global economic and political landscape while still managing every other aspect of their businesses effectively." "At this point, I think most people realize that it's going to take some time for the economy to fully recover," said Kenneth Klabunde of City Wealth Advisors in Indianapolis, Indiana. "That being said, there are some positive signs and reasons to be optimistic, and advisors need to communicate that to their clients so that the 'pessimism bubble' doesn't continue to hang over them." SEI conducted the survey in May 2012 at its National Strategic Advisor Conference for more than 125 advisors that partner with SEI. The advisors, evenly distributed around the country, are industry veterans primarily managing large books of business. Half of the advisors have been in the business more than 20 years and an equal percentage manage more than $150 million in assets. About The SEI Advisor Network The SEI Advisor Network provides financial advisors with turnkey wealth management services through outsourced investment strategies, administration and technology platforms, and practice management programs. It is through these services that SEI helps advisors save time, grow revenues, and differentiate themselves in the market. With a history of financial strength, stability, and transparency, the SEI Advisor Network has been serving the independent financial advisor market for more than 16 years, has over 4,900 advisors who work with SEI, and $32.6 billion in advisors' assets under management (as of March 31, 2012). The SEI Advisor Network is a strategic business unit of SEI. For more information, visit www.seic.com/advisors. About SEI SEI (NASDAQ: SEIC) is a leading global provider of investment processing, fund processing, and investment management business outsourcing solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of March 31, 2012, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $428 billion in mutual fund and pooled or separately managed assets, including $189 billion in assets under management and $239 billion in client assets under administration. For more information, visit www.seic.com. SOURCE: SEI |