A survey of more than 125 investment advisers who attended Oaks-based SEI Corp.'s national meeting earlier this month shows 74% want Republican Mitt Romney to win the November presidential election -- but 63% expect Democrat Barack Obama will be re-elected anyway.
The advisers are the largest, measured by assets, of the 6,000 who retail SEI funds, according to Steve Onofrio, the 24-year SEI veteran who manages the company's adviser network. "They average $150 million" in client funds under management," he told me. "They are independent advisers, all entrepreneurs" -- businesspeople with a payroll, reviewing investments, tax and insurance planning with their wealthy clients.
More than 9 out of 10 advisers expect voters will again split control of the government between Democrats and Republicans, with each party retaining control of at least one house of Congress, or the Presidency.
Which is bad news, according to the advisers, since split government is likely to mean more "log jams in Congress" and a failure to resolve funding for medical care and Social Security "entitlements" -- cited as the things that "most worry" 40% and 31% of advisers, respectively.