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Doubt Creeps into Advisor Views on Trump

May 1, 2017

Most financial advisors are increasingly unhappy with President Donald Trump’s job leading the country, according to an InvestmentNews survey.

Only 40.6% of advisors approve of Trump’s performance while 51.6% disapprove, according to an online poll of 648 advisors conducted in April. Even in March, only 25.2% disapproved, according to the poll. And 42.8% are now less confident about Trump as president than they were at his inauguration in January, InvestmentNews found. Only 28.8% say their confidence grew, meanwhile.

On the other hand, Trump’s supporters remain firm: only 3% of the advisors who voted for Trump say they wouldn’t do it again. But most advisors also believe the president is “volatile and unpredictable,” regardless of whether they voted for him or not, according to the publication. And few believe he can deliver on one particular issue that could affect advisors: just 28.4% are “extremely” or “very confident” he’ll be able to push through his proposed tax reform, InvestmentNews found.

President Donald Trump (Getty)

Advisors who voted against Trump haven’t changed their minds either, according to the publication. Debra Morrison, president of Empowered Retirement, tells InvestmentNews that Trump “is in so far over his head.”

On the other hand, Trump has averted catastrophe, Paul Auslander, director of financial planning at ProVise Management Group, who also voted against him, tells InvestmentNews.

“The market didn’t crash and we haven’t gone to war yet — the two things that everyone was worried about,” he tells the publication.

By Alex Padalka
  • To read the InvestmentNews article cited in this story, click here.