That's the conclusion of an independent economist who has tracked the predictions of Wall Street top strategists’ in Barron’s every year since 2007.
Fritz Meyer’s scorecard Of S&P 500 sector predictions by Wall Street strategists distinguishes financial planning professionals from Wall Street giants, positioning financial and tax planning professionals as a source of objective analysis.
The financial press is always preoccupied with reporting breaking news. A fraction of the business reporters are employed by newspapers compared to 20 years ago. By fact-checking sector predictions made in the press 12 months earlier, independent professionals fulfill their role as fiduciaries, playing an important role as a trusted source to financial consumers.
Presenting evidence supporting strategic investing builds advisor credibility and reinforces a fiduciary’s approach. The hardest part is that it must be done regularly in a stream of evidence-based financial wisdom. That attracts clients who value good thinking and strategic planning, who appreciate you.