Rate hikes and regulatory scrutiny are the top concerns.

Advisors have been instituting these strategies for months as today’s 50bps interest rate cut had been widely anticipated.

The Federal Open Market Committee voted 11 to 1 to lower the federal funds rate to a range of 4.75% to 5%, after holding it for more than a year at its highest level in two decades.

The SEC found that after a merger, First Horizon did not properly follow its Regulation Best Interest procedure when making structured note recommendations to some clients.