While crisis-level activity has largely subsided, advisors remain very active relative to "normal" levels of activity we saw during the bull market run. 

During these volatile market swings and stay at home orders for investors, advisors remain very active. Investing activity last week was still two times average transaction volume as compared to the past 18 months. While the equity markets showed strong performance last week, advisors remained in a neutral risk stance. Cash as a percentage of portfolio dropped to 5% from 6.2%, a nearly 20% drop in cash allocations. 

Advisors are very slowly reducing cash levels. Their attitude toward risk is neutral, repeating last week's trend, in that both risky and non-risky assets saw nearly zero net flows. 

Advisors remain very active making small changes to client portfolios, harvesting tax losses, and fine tuning risk tolerance, while generally keeping their clients invested to meet their objectives.