The video this transcript is based on appeared on December 26.

NEW YORK (TheStreet) -- Wells Fargo Advisors' Scott Wren says that while there will be volatility in the markets over the next several months he expects the markets to end 2014 roughly 7% higher than where they are today.

VIDEO TRANSCRIPT:

Ruben Ramirez:
Now Scott, as we look out to 2014 we've seen the markets move higher this year, will they continue to move higher next year or will they take a breather?

Scott Wren:
Well Ruben, I think by the end of the year 2014 the market will be higher than where we are now by five-six-seven percent possibly. But I think in the next few months or the next quarter or two we're going to see some more volatility which really, I would welcome because really the markets moved with it very shallow pullbacks over the course the last six or nine months, a lot of our clients still holding too much cash. I'd love to see a little volatility, I'd love to see some pullback and I think that's what we're going to see over the course the next course of the next three or four months.

Ruben Ramirez:
Scott, thank you so much. In New York, I'm Ruben Ramirez, thanks for joining us.

Written by Ruben Ramirez in New York.

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