2025 Advisor Outlook
Financial advisors (FAs) surveyed worldwide shared what’s shaping their private market outlook heading into 2025—opportunities, risks, and client demand.
SURGE IN PRIVATE WEALTH INFLOWS
The Rise of Private Wealth in Private Markets
Investor demand for private markets is accelerating, fueled by a historic wealth transfer, growing private wealth inflows, and companies staying private longer. High net worth individuals (HNWIs) and retail investors are driving a structural shift in alternative fundraising and reshaping access to private market opportunities.
Private Markets Rise
Two-thirds of FAs expect the percentage of their clients invested in private markets to increase over the next three years.1
Not sure
Decrease
Stay the same
Increase
94%
of FAs report that their clients “frequently express interest” in private markets1
92%
of FAs expect private markets to outperform public markets in the long run1
86%
of FAs agree private companies offer superior governance to their public counterparts1
“Financial advisors and their clients want choice and flexibility as they access private markets investment opportunities.”
Partner & Global Head of Wealth
Adams Street Partners
STREAMLINING ACCESS TO PRIVATE MARKETS
Private Markets Create Opportunities for Financial Advisors
Access to private market investments is expanding for FAs, giving their clients the opportunity to tap into a significant portion of the economy that has traditionally been dominated by institutional capital. Evergreen funds are streamlining entry, offering enhanced diversification, periodic liquidity, simplified tax reporting, and the potential for superior long-term returns compared with public markets.
THE RISE OF EVERGREENS
Evergreen Funds Accelerating as Private Wealth Expands
Private market managers are expanding their offerings with evergreen vehicles, designed to simplify access and meet growing demand from individual investors.
These vehicles offer periodic liquidity after an initial lock-up, eliminate capital calls, and simplify tax reporting—which can provide simpler access, greater flexibility, and a streamlined investor experience compared to traditional closed-end structures.
“For us, the best recipe for stability is always a balanced approach—diversification and no overallocation in one sector or market.”
Global Head of Fund Offerings
Julius Baer
AI AND TECH DRIVE DEMAND
Advisors Name Technology Top 2025 Opportunity
AI’s potential to fundamentally change the way we work and live has already captured the imagination of investors eager to capitalize on its transformative potential. AI has the potential to transform every industry, and wealth management is no exception.
Technology is seen as a key investment sector in 2025 for 58% of FAs, followed by financial services (42%), and energy and utilities (31%).1
Wealth Clients Prioritize Returns
FAs report that their private wealth clients prioritize new investment opportunities, wealth preservation, income maximization, and tax efficiency, while ESG ranks as the least important concern.1
New Investment Opportunities
Wealth Preservation
Maximizing Income
Tax Efficiency
ESG
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1. Adams Street Partners, 2025 Global Investor Survey
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