Despite the negative media attention Mitt Romney received for a secretly recorded video in which he talked about the 47% of Americans who do not pay taxes, there is one group of people who is still solidly supporting the Republican’s presidential bid: financial advisors.
Lorie Konish writes for OnWallStreet.com that a new survey by the SEI Advisor Network, some of which was done after the video was revealed, shows that 74% of financial advisors back Romney. These numbers are similar to an SEI survey from May. However, there is one difference in the poll’s results: in May, 63% thought that Barack Obama would win the election. Now, 52% of the advisors think that Romney has the edge.
The advisors in the survey each manage at least $100 million in client assets. Steve Onofrio, managing director for SEI, tells OnWallStreet.com: “Our sense is that it’s about the economy, it’s about entitlements and the tax fiscal cliff on Jan. 1,” he said. “I think that’s what we’re seeing.”
Other results from the survey: 85% said that Romney would make a better financial advisor than Obama, and 79% said that Romney would positively impact the economy. In addition, 86% of the advisors said that their political views were similar to those of their clients.
Written by Lisa Swan