RIAs less optimistic about economy and stock market

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After reaching new highs at the start of the year, optimism about the economy and the stock market has slipped among registered investment advisers, according to a mid-year survey of RIA sentiment from TD Ameritrade Institutional. Sixty percent of RIAs are optimistic about the U.S. economy compared with 68% in January, while 56% doubt the stock market's momentum will continue through end of the year, TD Ameritrade said in a release. By contrast, 64% of RIAs are optimistic about the global economy, compared with 55% at the start of the year. Nearly half of respondents said a proposed tax plan from President Donald J. Trump would have the greatest impact on their firms; 23% believe the new DOL rule will have a positive impact on their business, while 62% believe it will not affect them at all.