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 the investment advisor. A quarter of advisers expressed little concern about the scandal, mostly because they feel the problems are limited to certain companies.

The media has blown the scandal out of proportion, say 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.

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