With today's current economic volatility, most financial advisors are advocating that their clients not make wholesale portfolio changes, but instead stay put, according to a new survey.

Kasina, a New York-based consultant and strategic advisor to the asset management industry, today released the results of its biannual FA vision survey of U.S. financial advisors. The firm queried more than 2,300 financial advisors across the country about their top concerns and recommended courses of action. The study indicated that nearly 50 percent favored "staying the course" over significant reallocation in alternatives, equities, fixed income and cash.

The survey asked financial advisors to decide which of the following events presented the biggest possible impact to their clients' portfolios: the European debt crisis, oil prices, this year's U.S. presidential election, current unemployment rates or another event.

Forty-seven percent indicated that the European debt crisis in Europe would have the biggest impact on clients' portfolios. Advisor respondents were then asked to choose what action they recommend to clients in the face of that event: increase alternatives, increase cash, increase equities, increase fixed income or no change.

The result: 42 percent of advisors surveyed said they recommended no change at all to their clients' portfolios.

"The survey clearly tells us that financial advisors are advocating for risk management and long-term returns in the face of volatility," said Steven Miyao, Kasina's CEO of kasina. "While many financial advisors indicated that the Eurozone issues continue to be the largest overhang, most are committed to building long-term platforms that rise above the short-term noise we're currently experiencing."

Those advisors who said they would not recommend change stressed that their portfolios were already positioned to avoid responding to short-term bumps in the road.

While most advisors believe that the European debt crisis is the most important event, respondents also indicated that they are not convinced that any single asset class offers a better risk profile. Most advisors indicated that they would be willing to explore alternatives or keep their money in cash. A majority of the respondents pointed to the importance of maintaining a well-diversified portfolio. A geographic breakdown did not show statistically significant deviations, suggesting that advisor sentiment across the country remains fairly constant.

"Verbatim responses indicated that many financial advisors have already priced in these events and are looking for opportunities as the U.S. election cycle and Eurozone crisis continue to unfold," Miyao said.

Strategy consulting firm Kasina works with clients on five continents, including firms representing 90 percent of the U.S.'s total assets under management.

-Jim McConville