Next Gen asks 'WTF?' — What's the forecast?

With more than 1,000 students piling into the UD Arena this morning to attend the University of Dayton's R.I.S.E. Investment Forum to learn more about the world of finance, the first question addressed was a pointed one: What's forecast for the U.S. economy? Few in attendance here expressed that they believe the U.S. is heading for a recession in 2012. Summing up a somewhat optimistic mood in the crowd. Jerry Webman, the chief economist at OppenheimerFunds who kicked of the day with an economic outlook discussion, pegged the odds of a recession at just 15% this year. But despite the outlook - which is much rosier than when InvestmentNews polled advisers just eight months ago and 40% felt a recession was near - this younger generation still appears cautious. They're interested in pursuing a career in finance - they're here, networking with more than two dozen major financial institutions - but unsure of what that career will look like. Who could blame them after all, given the dramatic changes that have taken place in the financial services landscape over the last decade (just ask someone whose first job was at Lehman Brothers in 2005-2008). That is why we are here: To determine what highly engaged students are looking for in a career and learn about their interest levels in pursuing a path in the financial advice business specifically. We're doing the legwork to support our own 'Next Generation of Financial Advisers' initiative, which will culminate with a virtual career fair in November where we will connect students with RIAs, broker-dealers, custodians and other key players in the advice industry. We know you are growing your businesses - or aiming to grow your businesses - but you just might not know where your next generation of talent may come from. It could very well be sitting in the bleachers of the UD Arena right now...