Stocks are the only game in town according to Morgan Stanley Private Wealth Management's Andrew Chase, Barron's 2016 top-rated financial advisor.
"At the end of the day, equities, companies are probably the only asset class that hasn't had serious price inflation because of interest rates dropping for the last few years," he told CNBC's "Fast Money: Halftime Report."
"They're still valued at normal 20-year multiples where every other asset class — real estate, etcetera — have had very serious price inflation, so it's hard not to like them," he said.
Chase, who manages more than $20 billion, said he is most bullish on U.S. equities. And while he believes bonds are better than cash, he said it's hard to like fixed income with 10-year Treasurys yielding 1.5 percent.
At the sector level, Chase said he is very overweight health care because he believes equities in the space are cheap and have nowhere to go but up after being beaten up for the last six to nine months.
When it comes to dividends, he said he prefers companies that can increase shareholder payouts. Traditional dividend-payers like utilities and telecom companies face growth challenges and have little ability to raise dividends.