2025 MMI Investment Advisory Pulse Survey: Key Findings

Mind the gaps

While asset manager and wealth manager views have converged on certain topics since last year’s research, interesting disconnects remain in other critical areas.

MMI is pleased to present key findings from the 2025 Investment Advisory Pulse Survey, produced in conjunction with Broadridge.

Now in its third year, this annual survey explores how MMI members view trends and challenges across four topic areas: business outlook, product, distribution, and Artificial Intelligence.

Explore this exclusive members-only report for an in-depth examination of these key issues, how they may impact your firm's business, and takeaways to drive your strategic planning.

A look at some of the major findings

Market sentiment is still bullish, but weakening. 57% feel less confident in the economic outlook than they did 12 months ago, with asset managers more bullish than wealth managers.
New challenges continue to emerge. While the cost of keeping up with continually advancing technology is the top concern of wealth managers, asset managers are wrestling with product pricing and distribution economics.
Active ETFs, Alternatives, and SMAs will drive future asset growth. The growth trajectory of active ETFs is forcing firms to prepare for declining mutual fund revenues and rising ETF competition. Respondents believe that the growth of private market/alternative investments is still in its infancy, but limited investor demand, liquidity challenges, and advisor education are key hurdles to realizing growth potential.
Firms are optimistic about headcount growth. Artificial Intelligence is generally seen as empowering rather than replacing employees. Both asset managers and wealth managers are prioritizing specialists for private market/alternative investments and sales enablement/data, but their views on the need for other types of specialists diverge.

of asset managers rank ETFs among the top two areas where their firm is investing today.

of wealth managers rank advisor-facing technology/platform among the top two areas where their firm is investing today.

Infographic from report: The majority (52%) of wealth managers don’t believe that advisors prefer in-person contact from their asset management partners

Dig deeper into the survey findings in these four areas

Business Outlook

Cracks in market sentiment are emerging, and top business concerns for asset and wealth managers are diverging

Product

Continued emphasis on low-cost, tax-efficient vehicles, and cautious approach to introduction of ETFs as a share class

Distribution

Continued demand for specialist headcount, but disconnects as to what types of specialists are preferred

Artificial Intelligence

Rapid gains in adoption of AI, but regulatory and data infrastructure challenges persist

Learn more about the survey findings

MMI Webinar: 2025 Investment Advisory Pulse Survey: Key Findings

Tim Kresl and Ashley Wood share what your fellow members think about the key business outlook, distribution, and product issues that are shaping the current and future state of the investment advisory industry.

Press Release: AI, Product Innovation, and Next-Generation Investors Set the Course for the Future of Asset and Wealth Management, MMI-Broadridge Survey Finds

Coverage on the survey and how asset and wealth management firms are targeting AI-driven innovation, new products, and an enhanced client experience as key drivers of industry growth

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