While 52% of registered investment advisors say a double-dip recession in the next six month is unlikely, their clients are nonetheless looking to reduce expense, cut back on discretionary spending and making more conservative investment choices, according to Charles Schwab’s 10th semi-annual Independent Outlook Study released Wednesday.

The study, which queried more than 900 RIAs in February and March, found that 37% of advisors were bullish on the investment markets, 22% considered themselves bearish and the remaining 41% rode the fence.

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