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US advisers optimistic about 2015

A survey of American financial advisers has found high levels of optimism about the US and global economy and financial markets, as well as their own business prospects.

The survey of 380 advisers, conducted by New York-based trade publication Investment News, found that 8 out of 10 are “confident about their business prospects for 2015”, with “about half” categorising themselves as “somewhat optimistic” and 34 per cent as “very optimistic”.

"I am bullishly optimistic on the wealth management business," said adviser JJ Burns.

"We've seen an influx of people coming to us who have been mismanaged, and not globally diversified, and there's a dwindling supply of firms that do comprehensive wealth management."

Meanwhile, around 40 per cent indicated their belief that the US economy will “improve slightly this year”, anticipating that US equities will return between 5 and 9 per cent assuming the economy grows at about 3 per cent, the survey found.

However, 44 per cent of respondents believe the economy in 2015 will be on par with 2014.