Almost three-quarters of independent advisors (72%) believe the S&P 500 index will keep rising in the next six months and an equal amount believe the recession will end in less than a year, according to Charles Schwab's semi-annual Independent Advisor Outlook Study.

As measured by the study, advisor optimism for the S&P 500 was the strongest in two years.

On a regional basis, advisors in the Northeast are most upbeat when it comes to their own markets, with 32% saying their local economy has improved. Advisors in the West were the least upbeat, at only 18%.

On the political front, the percentage of advisors who believe the country will become more united has plummeted to 8%. That number was 67% among advisors polled during the previous study six months ago around the time of Obama's inauguration.

Regarding investments, ETFs remain the top preferred investment vehicle, followed by commodities and a tie between REITs and high-yield bonds.