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Color me unsurprised:
Nothing worries financial advisers more than the prospect of a Democrat’s being elected president in November, according to a quarterly poll by Brinker Capital Inc.
The fourth-quarter edition of the Brinker Barometer, which polled 236 advisers in December, found that 22% indicated that a “Democrat in the White House” worried them more than all other economic or geopolitical concerns.
Rounding out the list of concerns was “global unrest” (15%), “U.S. economic growth” (15%), “a terrorist attack” (13%) and “a recession” (13%).
When asked what their greatest tax concern would be under a Democratic administration, 81% of advisers cited a potential increase in the capital gains tax, an income tax increase and heavier taxes on dividends.
“[Departing from] the Bush administration’s approach to taxation will have a large impact on advisers and their clients,” said John E. Coyne, president of Berwyn, Pa.-based Brinker Capital, which manages $9.4 billion in assets. “When taxes begin to erode returns, equities remain less attractive.”
The results jibe with a poll that Brinker conducted last summer in which 60% of advisers said that Democratic presidential candidate Sen. Hillary Clinton, D-N.Y., would be the worst choice in terms of the economy and investing.
On the flip side of that poll, 36% of advisers said they thought that Republican presidential candidate Rudolph W. Giuliani would have the most positive effect on the U.S. economy and investing (InvestmentNews, Aug. 13).
“We’re going to take things away from you on behalf of the common good.”
Hillary Clinton – June 28, 2004
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