Only 48% of financial advisers and financial professionals are optimistic about their 12-month outlook, a 15-percentage-point decrease from last year, according to a recent survey by insurer Nationwide. The poll of more than 1,000 financial advisers and investors found that the latter group has also grown more pessimistic about the economy, with only 39% of investors optimistic about their financial outlook, a 10-point decrease from last year.
More than half (54%) of investors expect increased volatility over the next 12 months, but recession fears are 20 points higher (74%) than volatility worries, according to the survey. Advisers and financial professionals were more worried, with 82% concerned about a recession, compared to 77% in 2020.
Forty-six percent of investors listed inflation concerns in the next 12 months as their top financial concern. Other top financial concerns include taxes (22%) and protecting assets (19%). The survey also found that more than half (55%) of investors currently work with an adviser or financial professional.