A pullback in the stock market is providing investors a last chance to get onboard before a sustained rally gets underway, UBS Wealth Management Managing Director Robert Sechan said Friday.
"The economy's clearly gaining traction. Investors are building confidence, and investors are way offsides from an asset allocation standpoint," he said. "You look at this Fed communication, and I think it gives investors one of the last great opportunities to get involved with the market before the train goes express."
Sechan, with $5 billion in assets under management, was named one of Barron's Top 100 Financial Advisors.
On CNBC's "Fast Money," he noted that cash sitting on the sidelines would begin to enter the stock market as the rally matures.
(Read More: 'Bear Market Is Officially Dead': Pro)
"I think the reason they think there's this much more upside is that assets have moved a lot, but investor positioning has not," he said. "You look at cash in investors' portfolios , it's still at exceedingly high levels. Markets are not valued very high from a fundamental standpoint."
Sechan said that equities held promise with valuations at a 15 multiple this year and 14 next year.
(Slideshow: Most Loved Hedge Fund Stocks)
"There's room to run," he said, comparing stocks as an asset class to "the best house on a bad block."
"I think investors are looking to re-embrace that risk," he said.