Financial advisors, in a snap CNBC survey, say their clients are mostly invested in the stock market and plan to hang onto their holdings.
Fifty-eight percent of the 26 advisors surveyed said their clients are fully invested, and 81 percent said they plan to retain their positions.
Fifteen percent said the Dow crossing 17,000 gives them an opportunity to speak with their clients about adding to holdings. Just one advisor said clients were selling at this level, and another said they were staying out of the market.
The was off 0.7 percent Tuesday after setting a series of new highs last week. The Dow's roughly 100 point decline put it below the 17,000 marker. The VIX, the market's fear gauge, jumped 10 percent for a two-day gain of nearly 20 percent.
When stocks hit big round milestones, it can create excitement and lure more investors into the market.
Neal Solomon of WealthPro wrote, "17,000 is just another number. As humans, we seem to have a fascination with mile posts, but the reality is that as investors—valuation and future prospects are much more important."
The advisors report that their clients still have anxiety about the market, but 77 percent say they have less or the same as last year. Another 23 percent say they are more anxious.
"While the risks are certainly higher today than a year ago, opportunities still exist for those who have been on the sidelines, but should invest in order to meet their goals. Staying out of the market because they thought it was too high hasn't worked over the past five years, it's not likely to work in the future," wrote Howard Pressman of Egan, Berger and Weiner.
—By CNBC's Patti Domm