Holding the hands of risk-averse clients

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Advisers are trying to be reassuring as their clients’ risk tolerance plummets.

Worries brought on by a changing political, regulatory and economic climate have brought this month's Retirement Adviser Confidence Index — Financial Planning's monthly barometer of business conditions for wealth managers down 3.6 points to 47.9. The index is now in negative territory, reaching its lowest point since January.

Across the board, advisers reported clients were considerably more opposed to taking on risk. Clients' perceived risk tolerance level fell 9.3 points to 36.2.