After two months of modest gains, Financial Planning's Retirement Advisor Confidence Index - a monthly barometer of business conditions for wealth managers - slipped for October, driven by declines in equity investments and greater allocations to cash.
The index registered 51.1, a drop from the October level of 52.6, according to a Financial Planning survey of planning professionals. RACI readings below 50 show a decline relative to the prior month, while more than 50 indicate expansion.
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