Market pros call it the Great Rotation. That's the long-awaited scenario when investors take their money out of bonds and sink it into stocks.

Given the choice of whether to expand Medicaid under President Barack Obama's health care law, many Republican governors and lawmakers initially responded with an emphatic no. Now they are increasingly hedging their objections.

Only 39 percent of financial advisors create a written investment policy statement for their clients, which is a missed opportunity, according to Russell Investments latest quarterly survey of U.S. advisors, the Financial Professional Outlook.