Most financial advisers share their clients' level of concern about the mutual fund scandal, according to a survey of 124 financial advisers conducted by Select Sector SPDRs, for which State Street Global Advisors serves as investment advisor. A quarter of advisers expressed little concern about the scandal, mostly because they feel the problems are limited to only a few certain companies.
The media has blown the scandal out of proportion, according to 42% of advisers. An equal number says that they are "quite upset." A third characterize their concern as "average," and a quarter feel that the scandal has helped them focus attention on fees and policies that they don't like.