Equities

Clients are becoming less cautious about upping allocations to developed international and emerging market stocks, planners report.

Traders have piled into global equities, heartened by deal activity and better-than-expected corporate earnings.

Clients are hesitant to invest more in the face of global upheaval, advisers say, citing the recent coup attempt in Turkey, terrorist attacks and the outcome of the U.S. election.

"If we don't see better-than anticipated corporate earnings I think the rally will be short-lived," Laurence Fink said.

Planners ask whether events like Brexit have rewritten the rules on current portfolio allocations.

"This is the new normal -- politics could add more volatility to all financial assets," said Barbara Reinhard, head of asset allocation for multi-asset strategies at Voya Investment Management.

"Market participants are right to be concerned," said Dean Maki, chief economist at Point72 Asset Management, adding that he expects U.S. exporters will be faced with a strong dollar again.

"Risk appetite is going to evaporate in the coming days. How long that risk-off will go remains the question," says William Hobbs, head of investment strategy at the wealth management unit of Barclays in London.