Financial advisors’ view on the health of the U.S. economy improved slightly over the past month, while their confidence in continued positive market returns has ticked downward, according to a monthly survey gauging their perspective on both.
Advisor sentiment around the stock markets dropped three points in September to an index reading of 115, according to Wealth Management’s WMIQ Advisor Sentiment Index.
That’s still in positive territory (in the ASI, 100 represents a completely neutral view), but 12% lower than the index’s all-time high reached in May.
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While only 10% of respondents currently have a negative view of the market’s performance, they are divided on prospects over the next six months: 34% expect an improvement, 26% expect stability, and 39% expect a decline. This pattern largely holds for their view over the next 12 months, with 41% expecting an improvement and 37% expecting a decline.
Notably, the percentage of advisors with a negative outlook on the market’s near-term future is at its highest point in five months.
Still, most advisors view the stock market as fundamentally healthy, citing strong market data, corporate profitability and continued price gains. At the same time, several said equities are overvalued or trading at historically high multiples, leaving the market particularly vulnerable to disappointing economic news or earnings results.
When it comes to the economy, advisor sentiment during September ticked up 4 points to an index reading of 106.
Four in 10 respondents (41%) consider the current state of the economy to be positive. An additional 42% consider it average.
Respondents are evenly divided on the prospects for the economy over the next six months. One-third (33%) expect an improvement; 34% expect no change; and 33% expect a decline.
They remain divided, albeit slightly more optimistic, looking forward 12 months, with 43% expecting an improvement and 36% expecting a decline.
In survey responses, A substantial share of advisors’ comments tie the economic and market outlook to elections, congressional control, federal policy, government spending and national debt.
While respondents differ sharply in their political perspectives, the broader theme is that most advisors remain optimistic, even as a significant number report that uncertainty about government policy and fiscal direction is influencing their confidence in the future trajectory of the economy and markets.
Methodology, data collection and analysis by Wealth Management and Informa Engage. Data collected September 1-30, 2026. The methodology conforms to accepted marketing research methods, practices, and procedures. Respondents are asked for their view on the economy and the stock markets both currently, in six months and in one year. Responses are weighted and used to create an index tied to a neutral value of 100. Over time, the ASI will provide directional sentiment of retail-facing financial advisors.
