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Investors as well as advisors are reporting levels of stress similar to what they experienced at the height of COVID-19 due to the current macroeconomic environment. This according to the eighth-annual Advisor Authority survey conducted by the Nationwide Retirement Institute.

The survey found a sharp decline in optimism among those surveyed, with only 39% of investors saying they are optimistic about their 12-month financial outlook. That represents a 10 percentage point decrease from 49% last year. Advisors and financial professionals showed a similar drop in optimism, with only 48% saying they are optimistic, down from 63% a year ago. Survey respondents pointed to volatility, fears of recession, inflation and taxes as their top financial concerns.

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