Confidence rose among millionaire investors in October to its highest level since April 2012, according to the latest findings of Spectrem Group's Millionaire Investor Confidence Index. The index rose six points to minus two, marking a six-month high.

Meanwhile, another poll from Spectrem showed that millionaire investors say they see mostly advantages in working with an advisor. According to a statement from Spectrem, the study showed that more than three-fourths of millionaires said working with an advisor improved their investing knowledge, two-thirds said it expands their investing opportunities and 57% said that it helps with peace of mind. The one disadvantaged, cited by 54% was the "higher fees" asscoiated with working with a planner.

Spectrem's Affluent Investor Confidence Index also showed a gain. At a reading of two, the index rose one point in October and was at its highest since May. 

This index also indicated a slight shift in investment preferences among affluent investors with real estate seeing the largest gain in over a year. 

Real estate rose 5.4 points to 12.2 points and stocks gained for the third consecutive month, rising 3.3 loins to 35.2, the highest level since March. Investments in bonds rose 3.2 points, reaching a six-month high at 11.5, but bond mutual fund investments fell 2.6 point to 13.6. Investments in cash rose 2.7 points to 25.8 and "not investing" moved up 0.8 points to 39.9. However, overall the study found that non-millionaires are more likely than millionaires to not invest, 48.6 points to 31.5. 

According to Spectrem's Affluent Household Outlook, investor sentiment is improving across all areas tracked by the study. Affluent household optimism regarding household income, household assets, company health and the economy showed the largest gains in over a year. This makes October the first month since May that investor outlook improved for all components of the index.

Spectrem's research indicates that the factors most likely to cause investors to alter investment plans are stock market conditions and the political climate.