Nearly half of Advisers polled say stimulus package is a bad idea
NEW YORK, Feb. 2 /PRNewswire/ -- InvestmentNews, the leading news source for financial advisers, polled thousands of financial advisers and financial planners across the country, asking them what they thought of President Obama's $819B bailout plan.
According to the results of the exclusive online InvestmentNews survey, 45.6% of the 1,632 who completed the survey thought the stimulus package was a bad idea. Additionally, the survey revealed 36.4% of advisers do not have much confidence in Mr. Obama's ability to fix the economy, with 15.5% of respondents saying they had no confidence in his ability to fix the economy. Meanwhile, 31.5% of advisers said they had a fair amount of confidence and only 12.2% had a great deal of confidence.
"Our survey reflects financial advisers' skepticism of government bailouts in general and President Barack Obama's plan in particular," said Jim Pavia, editor of InvestmentNews. "While advisers expectations of the new president are quite high, few expect Mr. Obama to singlehandedly turn around the economy. That said, the overwhelming majority of advisers expect Mr. Obama to devote his full efforts to righting the nation's economic ship in the weeks and months ahead."
In additional polling, advisers said the bailout plan could be a polarizing factor in the country. In fact, 40.5% of advisers surveyed said the country is more politically divided than it has been in the past and 31.3% said the country remains as politically divided as it has been in recent years.
The InvestmentNews Financial Adviser Poll was conducted online, January 26-30, 2009. A full copy of the survey will be made available upon request.
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Since 1998, InvestmentNews has been delivering news and analysis essential to the business of financial advisers. The weekly newspaper, which combines comprehensive news with accurate, independent reporting on the entire financial services industry, provides financial advisers with insight into the market unavailable in any other publication.
In addition to news, InvestmentNews organizes a number of webcasts and conferences throughout the year, bringing together readers with key industry experts. The InvestmentNews' main office is located in New York, with offices in Boston, Irvine, Chicago, Detroit, Philadelphia, San Francisco and Washington, DC.
SOURCE InvestmentNews
