Financial Advisor Confidence Flattens in August | WealthManagement
Financial advisors’ views of the U.S. economy in August were relatively unchanged from the previous month, even while their level of optimism in the future prospects of the stock market reversed a months-long decline, according to Wealthmanagement.com’s most recent Advisor Confidence Index.
As the stock market broke through to new record highs in late August, the overall level of advisor confidence in the future of the economy and markets rose a mere 0.4 percent to 116.94. Digging deeper, advisors’ reported a slight decline in optimism for the economy while becoming more confident that, in the near term at least, the stock market has more room to run. While still in positive territory, the sentiment gauge has fallen 5 percent since the beginning of the year.