Despite the market turmoil, which caused a decrease in assets under management in 2008, financial advisers and the independent broker-dealers who serve them will see business boom in 2009.
DALE BROWN
Executive director
Financial Services Institute
Atlanta, Ga.
General outlook:
"Uncertainty and volatility may continue into 2009. It will continue to create a challenge for everyone," said Mr. Brown, whose organization is an advocacy group for independent broker-dealers and financial advisers.
Next big trend:
Despite the market turmoil, which caused a decrease in assets under management in 2008, financial advisers and the independent broker-dealers who serve them will see business boom in 2009. Advisory firms will thrive from picking up new clients, especially an increasing number of baby boomers nearing retirement.
Biggest concerns:
The Obama administration and Congress may overextend their efforts to fix the problems that caused the current credit crunch, putting a huge financial burden on the advisory industry, which already has a substantial regulatory burden.
The increased regulatory pressure also could hurt middle-class investors since the fees they have to pay could go up as a result of the new burdens placed on investment firms.
Reading, watching, listening to:
Book: "Patriotic Grace" by Peggy Noonan (HarperCollins Publishers, 2008).
Primary news source: wsj.com.
