Investors may be focused on the election and the possibility of a Federal Reserve interest rate hike, but there are bigger risks to the market, financial advisor Ron Carson told CNBC on Thursday.
Specifically, he believes there are four major disruptors investors need to be prepared for, the biggest concern being emerging technology's impact on industries.
"I think we're at the very beginning stages of having total disruption," the CEO of Carson Wealth Management said in an interview with "Power Lunch."
"It's going to replace massive number of jobs."
The other "buses" Carson believes are heading for financial advisors and their clients are the global central banks' unprecedented negative interest rates, regulatory forces in every industry stifling innovation and making growth more expensive, and investors and clients pulling money out of the markets.
His advice to investors is to "hug your risk budget."
"Investor behavior is what destroys wealth because they are not prepared for what can possibly happen," said Carson, who is a member of the CNBC Digital Financial Advisor Council.
"It's expensive to hedge, but it's fire insurance."
Carson said he believes the stock market will be slightly higher in 10 years, maybe by compounded 2 or 3 percent. That means investors need to look for alternative ways to accumulate wealth.
"There will be some real opportunities along the way."
— CNBC's Hailey Lee contributed to this report.