The stock market's torrid rally in 2013 apparently hasn't scared away financial planners for 2014.

The CNBC/Financial Planning Association (FPA) survey of 1,449 FPA members shows that 87 percent of them view stocks as the top selection for "where to put capital to work in 2014," CNBC reports.

Real estate placed second, at 5.3 percent, trailed by commodities, at 4.6 percent, and bonds, at 3.1 percent.

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Daniel Moisand, a principal with Moisand Fitzgerald Tamayo, who participated in the survey, isn't surprised by the strong showing for stocks.

"The main reason to buy stocks is that they have a fantastic record over time, beating inflation and providing a good return," he tells CNBC. "People need stocks in their portfolios for growth."

The Standard & Poor's 500 Index soared 29.6 percent last year.

Meanwhile, 81 percent of planners say they intend to discuss with their clients the idea of increasing investments in overseas markets.

"Notwithstanding the boom and bust cycles in emerging markets, there's every reason to believe that they'll continue to be among the fastest-growing markets in the world," David Yeske, co-founder of advisory firm Yeske Buie, tells CNBC.

Not everyone is enthusiastic about U.S. stocks. Six prominent valuation measures indicate the stock market is more overvalued than at most of its other tops since 1900, says Mark Hulbert, publisher of Hulbert Financial Digest.

Writing in The Wall Street Journal, he lists the six as the price-earnings (P/E) ratio, Robert Shiller's cyclically adjusted P/E ratio, the S&P 500 dividend yield, the price-sales ratio, the price-book ratio and the Q ratio, which is a ratio of price-to-replacement cost of assets.

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