After strong growth in 2016, independent registered investment advisors (RIAs) in the US are highly optimistic that their firms will see continued success in 2017 and will be flexing their marketing muscles to help make it happen, according to a survey report published by TD Ameritrade Institutional.
The latest TD Ameritrade Institutional RIA Sentiment Survey revealed that bullish RIAs plan to rev up marketing, business development and technology spending as well as implement a number of growth strategies to help attract new clients and sustain long-term expansion.
The survey, conducted in the weeks following Election Day 2016, found nearly seven in 10 RIAs to be optimistic about the US economy – the highest level since the survey began in 2009. More than half (55%) said they feel good about the prospects for the global economy.
Likewise, 53% of the respondents that they expect the US stock market to rise, while 35% said they expect the market to hold on to its 2016 gains.
According to the report, advisors are paying close attention to interest rates and corporate earnings for their impact on client portfolios, but those surveyed also believe that certain market sectors will benefit from changes from inside the Beltway.
The majority expects financial, industrial and material companies to see the biggest gains under the new administration, the report revealed.
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TD Ameritrade Institutional president Tom Nally said: “These are good days for independent RIAs, yet we can’t expect market tides will always rise. RIAs need to deliver a great experience, build firms that are more scalable and make sure they are compensated for all the services they provide.
“By investing in themselves, embracing technology and articulating all the value they deliver, RIAs can increase their firms’ chances for sustainable growth.”