Advisers have turned their back on all equity sectors and are only recommending investments into bonds, according to the Virgin Money Investor Intentions Index.
The group says that over the past three months the number of Independent Financial Advisers (IFAs) recommending investments dropped in all but one of the 10 sectors being tracked.
Bonds saw a 15% rise in recommendations, meaning that 83% of IFAs in the index have confidence in the sector.
The largest drop in interest was seen in emerging markets: just 33% of IFAs say they will advise clients to invest in the area.
Commodities, the far East and green investments also saw a drop of 25 percentage points in the number of IFAs recommending them.