While Congress continues its back-and-forth over the national deficit and debt ceiling, a new survey of NAIFA members reveals that more than three-quarters say clients are worried about their investments because of the issue.
Fifty-four percent of NAIFA members said clients have approached them with questions about the debt ceiling negotiations, and 25 percent they have raised the issue and clients have been concerned. The biggest worry of both advisors and clients, according to the members, is that Congress will not do enough to address the problem and the budget deficit will continue to grow. Some 59 percent of advisors said this was their biggest fear, while 47.5 percent said this was their clients’ biggest fear.
Only 15 percent of advisors said their biggest concern was that taxes would be raised as part of the deal, while 20 percent said this was their clients’ biggest worry.