Market volatility topped financial advisors' list of concerns in the first quarter, according to Fidelity's latest quarterly investment pulse study, released Monday.
Twenty-eight percent of advisors said volatility was top of mind, up considerably from 19% who said this in the fourth quarter.
"There is no question that the market had a volatile start to 2016, so it's no surprise that volatility was a top concern for advisors in the first quarter, particularly in January," Scott Couto, president of Fidelity Institutional Asset Management, said in a statement.
"Volatility can be uncomfortable, but advisors shouldn't allow short-term events to dictate changes to long-term strategy."
Rather, Couto said, advisors should focus on what they can control. "This starts by helping clients look at longer-term horizons, and by having a plan to invest through market fluctuations."
Fidelity bases its quarterly survey findings on the responses of more than 1,000 of its advisor clients.
Twenty-five percent of advisors cited portfolio management as a major theme in the first quarter.
At the same time, fewer than 10% expressed concern about interest rates, down from some 20% in the previous quarter.
