Financial advisers are bullish on the U.S. economy and markets, Brinker Capital found in its first quarterly Brinker Barometer, in which the firm surveyed advisers about the economy, retirement savings, investing and market performance.

Seventy-two percent are either “highly confident” or “somewhat confident” about the economic outlook. Sixty-four percent said they are “highly confident” or “somewhat confident” about market performance.

“The Barometer’s results show that the financial advisers we polled, regardless of the channel in which they operate, are generally feeling good about the economy and the markets, despite first quarter volatility and the Federal Reserve’s inflationary concerns,” said John Coyne, president of Brinker Capital.

Asked to identify three issues that concern them the most, the majority cited geopolitical events and stock market volatility. Among financial advisers that work for insurance companies, recession was their third-biggest concern, while independent advisers cited oil prices.

As to which investment vehicles are losing their and their clients’ favor, 34% said stocks, followed by 28% pointing to bonds. Alternative investments are gaining popularity among 52% of advisers, followed by exchange-traded funds (47%) and equity mutual funds (45%).

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