Despite the recent market pullback, some advisors are still optimistic that 2018 might be a positive year for the domestic equity market, according to Financial Advisor Magazine. Andy Hart, president of Delegate Advisors, recently spoke to the publication about the recent volatility and his outlook on the economy in 2018.
“It is heartening at this point that the economy is still strong,” said Hart. “An 8 percent pullback puts us back where we were in December.”
Hart also discussed the role advisors play during times of volatility. “Our role as advisors in this type of market is to educate clients to the fact that volatility should be expected. We have dialed back our clients’ risk over the last couple of years.”
While many believe the economic outlook remains strong, Financial Advisor Magazine warns that volatility isn’t necessarily behind us. The article states, “Increases in wages and the recently enacted tax cuts, combined with the just-announced government spending increases and an infrastructure package that is soon to be unveiled, will boost the economy further and may actually cause more bumps in the market.”
“Globally, everything seems to be OK,” Hart added. “There is no catalyst to make us think the global economy is going to shatter.”