NEW YORK, Aug. 27, 2012 (GLOBE NEWSWIRE) -- The Advisor Confidence Index (ACI), a benchmark that gauges advisor views on the U.S. economy and stock market, reports that advisor confidence fell in August, with the index slipping 2.29% from the July level to close at 96.49.
Many advisors believe world economies, and investors, have become too dependent on quantitative easing from the central banks. "Investors continue to base portfolio decisions on the prospects of additional market manipulation by global central banks," said William McCollum of Eagle Financial Management Services LLC. But he warned that "investors should not look to the Fed for future stock market performance."
Two of the four components of the ACI experienced a decrease over the prior month, including the "Stock Market Outlook" measure, which decreased significantly. The current and six-month economic outlooks were more optimistic, as they increased slightly from July.
| Current economic outlook | 3.51% |
| Six-month economic outlook | 5.36% |
| 12-month economic outlook | -3.79% |
| Stock market outlook | -12.42% |
Graphs accompanying this are available at https://media.globenewswire.com/cache/16530/file/15252.pdf
About Advisor Confidence Index's Methodology
The Advisor Confidence Index is a benchmark that gauges advisors' views on the economy. Modeled after the Conference Board Consumer Confidence Index®, the ACI captures the sentiments of 150 independent registered investment advisors (RIAs). The index's analysis is based on the number of completed surveys and reflects only information from those surveys. This information is intended to be general in nature, and these overviews are no substitute for professional, legal, or consulting advice. This information should not be construed as advice from Rydex AdvisorBenchmarking, Inc. or any of its affiliates.
About Rydex AdvisorBenchmarking, an affiliate of Guggenheim Investments
Rydex AdvisorBenchmarking is a research and analysis center focused on the registered investment advisor (RIA) marketplace. Every year through its survey website, www.AdvisorBenchmarking.com, the firm conducts multiple surveys of advisors, covering a host of business management and investment management practices. The findings and analysis of the data are then released to the marketplace as annual studies, quarterly research notes, monthly newsletters, and a confidence index. The service is aimed at helping advisors grow and enhance their firms by comparing how their businesses fare against other advisors. Advisors also learn best practices of the most successful advisors in the business. AdvisorBenchmarking is an affiliate of Guggenheim Investments.