Worries about rising interest rates is the biggest factors driving advisors to make changes to their clients’ retirement income portfolios in 2014, a new study finds.

"It is a huge driver in the industry now," says advisor Dean Harman, founder of Harman Wealth Management in suburban Houston. The prospect of higher rates “has pushed a lot more money into equities.” Harman says that in response to anticipated Fed policy changes, he has been pushing clients more into equal-weight funds, negative-duration bonds and senior floating rate bonds.

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