Financial advisors are nervous after six months of volatility, regulatory reforms and political and macroeconomic shifts.

Therefore, they are trying to efficiently manage investors’ portfolios to help them cope with the uncertainty coming at them from multiple directions, according to the Fidelity Advisor Investment Pulse study released Monday.

The study weighs factors affecting advisors for the first six months of the year and is prepared by Fidelity Institutional Asset Management, a distribution and client service organization.

Portfolio management was the top concern for 26 percent of the 250 advisors surveyed. Market volatility was a close second, and developments in the regulatory and political landscape were third.

“Without question, volatility was a big concern for both advisors and investors in the first six months of the year,” says Scott E. Couto, president of Fidelity Institutional Asset Management.  “Regulatory changes like the introduction of the Department of Labor’s investment advice rule and political developments such as Brexit and the U.S. election campaign added a degree of uncertainty to global markets.

“Advisors have been in a constant state of flux, but they can help make sense of the range of short- and medium-term factors in play by looking at client portfolios through multiple time horizons,” he adds.

In the one- to 10-year time frame, advisors should be considering corporate earnings, credit growth, and inventories and the fact that recession risks remain low, according to Fidelity. Over the long term of 10 to 30 years, advisors should look at demographic shifts, productivity changes and other macroeconomic trends that influence asset performance.