Advisers: Romney performance will jump-start GOP campaign

Say debate clearly won by the Republican presidential candidate; 'extremely strong'

Oct 4, 2012 @ 4:15 pm

By Liz Skinner

Mitt Romney's performance in his first presidential debate with Barack Obama was stronger than many financial advisers expected and has renewed the faith of supporters who were beginning to worry about the Republican's chances.

Even Mr. Obama's supporters concede that the president will need to perk up by the next debate or he's going to be moving out of the White House in January.

“As an investor it was quite clear to me that Governor Romney articulated an economic plan and a vision for the country that provides a greater level of transparency and predictability to the capital markets, specifically on taxation and deductions, as well as regulatory policy,” said Aaron Kennon, chief executive of Clear Harbor Asset Management.

He said that if Americans had never viewed the two candidates that it would be clear that Mr. Romney “had better command of the issues” and seemed to prioritize job creation and the economy, which is what Americans are most concerned about today.

Mr. Kennon said the American public was probably surprised to see the president appear almost unprepared at times and sometimes inarticulate.

Financial adviser Paul Auslander, a supporter of Mr. Obama, said the president's handlers “had better let Mr. Obama start drinking caffeinated coffee or we'll be in trouble.”

Mr. Auslander, chief executive of American Financial Advisors Inc., and president of the Financial Planning Association, said he worries that the portion of Americans who are just starting to think about who they'll cast a vote for Nov. 6 last night might have viewed Mr. Romney as more dynamic, “even if he was short on details.”

What particularly concerned Mr. Auslander was how Mr. Romney was able to present such a stark contrast with the president on Medicare, the federal deficit and other issues.

“The president got too much in the weeds,” he said. “You don't need to look down making so many notes, you need to engage your opponent.”

Financial adviser Rick Holbrook, principal of Holbrook Global Strategies, said he thought Mr. Romney “was extremely strong” and did what he needed to do, which was to provide a clear vision of the future to Americans and explain why the economy hasn't performed well under Mr. Obama.

Mr. Romney described the importance of bringing down marginal tax rates to give incentives to small businesses to go out and hire people, Mr. Holbrook said.

Adviser George Papadopoulos in Novi, Mich., said he was surprised how unprepared Mr. Obama appeared.

“I think Mitt Romney did very well, surprisingly well I may add,” Mr. Papadopoulos said. “This race will be close.”

Theo Gallier, chief investment officer of wealth management firm Private Ocean, said he recommends that clients not worry too much about who wins the presidency.

“With a gridlocked congress, I'm not sure it's going to matter which man wins,” Mr. Gallier said. “You really don't know what a president is going to do once they are in office anyway. who would have predicted that Obama would have had to take the kinds of actions that he has.”

0
Comments

What do you think?

View comments

Recommended for you

Featured video

INTV

Children of AI, and when they are coming to financial advice

Technology reporter Ryan Neal talks about the tremendous progress in artificial intelligence in other industries, and how its applications are slowly making headway in the advice sector.

Latest news & opinion

SEC advice rule hearing updates

Commission says a lot of work ahead, public will have 90 days to comment.

SEC advice proposal unveiling: Here's what to expect

Chairman Jay Clayton will initiate momentous action Wednesday, as the commission meets to debate a rule on broker and adviser standards.

How active are the largest actively managed funds?

Active-share measures for the 15 largest actively traded mutual funds.

Morgan Stanley's success looks long in the tooth to analyst

Sanford C. Bernstein & Co. analyst Christian Bolu, concerned over stalled adviser growth and what it means for lending and deposit growth, believes the stock will "under perform."

Retirement coverage gap, 401(k) rollovers are big emerging threats for plan advisers

Proliferation of state retirement programs approaching the 'tipping point' where it will lead the federal government to step in.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print