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24/03

Slight drop in financial adviser confidence across all jurisdictions

According to a survey* of financial advisers by Old Mutual International, part of Old Mutual Wealth, adviser confidence in the markets it operates across has dipped slightly compared to a year ago.

Adviser confidence on a scale of 1 to 10 (10 being highly confident):

Adviser region

Confidence in global economy

% change compared to Q1 2014

Confidence in local economy

% change compared to Q1 2014

All regions

6.0

↓ 6.3%

6.0

↓ 9.1%

Asia

5.8

↓ 10.8%

5.9

10.6%

Hong Kong

5.9

↓ 7.8%

5.8

↓ 12.1%

Singapore

5.7

↓ 14.9%

6.4

↓ 7.2%

UAE

6.4

    0%

6.5

↓ 12.2%

UK

5.9

↓ 7.8%

6.5

    0%

Europe (ex UK)

5.8

↓ 9.4%

5.0

↓ 5.7%

Confidence in the global economy is now 6 out of 10, a slight fall of 6.3% (from 6.4 in 2014). Confidence in the advisers’ local economies is also 6 out of 10, a fall of 9.1% (from 6.6 in 2014). 

Comparing confidence levels across the different regions, advisers in the UAE have the highest level of confidence in the global economy scoring 6.4 out of 10. Advisers in both the UK and the UAE have the highest level of confidence in their local economies, scoring 6.5 out of 10. 

Singapore is the region with the greatest drop in global confidence, falling 14.9% to 5.7.

Advisers in Europe continue to have the lowest confidence in their local economy.

Dean Bowden, investment solutions expert, Old Mutual Wealth:

“Looking at the wider economic picture you can understand why confidence has faltered slightly. Most economies seem to have some challenges; including the continuing uncertainty in Europe, the uncertainty inherent in the general election in the UK,  Chinese economic growth slowing to its lowest pace since 1990, and the IMF downgrading its global economic growth forecast by 0.3% to 3.5%. However, in-between the negative headlines there are signs of positivity, such as QE finally being rolled out in Europe and Chinese growth, whilst slowing, is still expected to be over 5%, suggesting global growth is not collapsing.”  

*Old Mutual International Adviser Survey, Q1 2015, 489 advisers took part in the survey from a number of jurisdictions. 

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