Advisor confidence climbed for a second straight month in November, with gains fueled by an increase in risk tolerance and a shift away from cash.

The Retirement Advisor Confidence Index - Financial Planning's monthly barometer of business conditions for wealth managers - edged up 1.2 points to a reading of 55.7. Index components with big moves included a roughly 6-point drop in allocations to cash and a 4-point increase in risk tolerance.

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