Pennsylvania-based SEI Investments, the global provider of financial services, conducted the survey of 407 US-based independent financial advisers.
Around 33% of respondents believe the market downturn will come in 2019 and 44% predicted it will occur in 2020. Only 13% of advisers believe the markets are clear of a downturn soon.
John Anderson, managing director and head of practice management solutions at Independent Advisor Solutions by SEI, said: “With the outlook revealed today, advisers need to be laser-focused on providing the optimal client experience and preparing their businesses to best serve their clients during volatility in the near term, as well as into the future.”
When asked what economic factor worries them and their clients the most in 2019, 38% of advisers said a “big market correction”.
This was followed by “geopolitical uncertainty” (25%) and the “trade war” (14%), which made up the top three.
Some 13% of advisers ranked “rising interest rates” as a top worry.