Tax cuts sustain bullish outlook among RIAs, TD Ameritrade survey finds

Company earnings and interest rates may drive the markets, but the new U.S. tax plan will impact individual investors the most in 2018, independent registered investment advisors (RIAs) tell TD Ameritrade Institutional in its latest survey.

When it comes to investing client assets, more than half of independent RIAs say they use ETFs more than mutual funds or individual stocks.

Although factors such as performance and total costs are important, advisors say the construction of the underlying index is the main reason they chose a particular ETF.

The survey also reveals that seven in 10 RIAs are carrying over last year's exuberance for the U.S. and global economies into 2018, perhaps bolstered by the highs reached by all major market indices in 2017.