2024 MMI Investment Advisory Pulse Survey Results

Explore where asset manager and wealth manager views have converged since last year – and where important differences remain

MMI is pleased to present key findings from the 2024 Investment Advisory Pulse Survey, produced in conjunction with Broadridge.

Now in its second year, the survey explores how MMI members view trends and challenges across four topic areas: distribution, products and strategies, artificial intelligence, and business outlook. This year’s survey found that asset managers are making progress but not keeping pace with advisors’ evolving product offering needs.

Explore this exclusive members-only report for an in-depth examination of these key issues, understanding of how they may impact your firm's future success, and actionable intelligence to drive your strategic planning and decision-making.

A preview of some of the major findings

Service and product lineup top performance. Wealth managers most often say that what separates best-in-class asset managers are sales service/support and product lineup; performance ranks third and is likely viewed as a cost of entry.
Demand for more product specialists. Nine out of 10 wealth managers (89%) expect increased use of alternative investments, and 81% expect increased use of direct indexing and separately managed accounts. Given the expected increases in non-traditional products and managed offerings, 74% of wealth managers want asset managers to invest more in product specialists.
Solo advisor practices in peril? Most MMI members (62%) believe that the trend towards advisor teams is to solve for an advisor vs. end-client need, highlighting the challenges to financial advisors of remaining solo practitioners.
Repositioning ESG. There is strong agreement that ESG momentum has stalled (95% of asset managers and 78% of wealth managers), suggesting it may be time for an ESG rebranding.
Shared optimism over AI. More than nine out of 10 members (93%) expect Artificial Intelligence will be a moderate if not high priority for their firm going forward, and 80% agree AI will play a major role in their business in the next two years.
Preparing for next gen investors? While 85% of members agree that younger investors (i.e., Gen Z and Millennials) will require different products and/or service models, few seem to be taking action. Just one in three members (34%) report that their firm is re-orienting its growth strategies toward younger investors.

of wealth managers prefer asset managers invest more in product specialist headcount

of asset managers plan to invest more in product specialist headcount

Explore the survey results in these four areas

Distribution

Members lack agreement on the areas where advisors need support, with the exception of holistic planning

Products and Strategies

Alternative investments and active ETFs are the new battleground among investment managers

Artificial Intelligence

Top use cases for AI include business intelligence, marketing/content development, and client service delivery

Business Outlook

Fee compression is a top concern for both asset managers and wealth managers

Q: To what extent do you agree or disagree with the following statements?

Learn more about the survey findings

Tim Kresl

Principal, Distribution Insight at Broadridge

Tim Kresl's fast-paced session at 2024 MMI Annual Conference offered highlights from the survey.

Watch Now

MMI Webinar: Investment Advisory Pulse Survey Results: “Great Expectations”

Tim Kresl and senior industry executives discuss where member views have converged since last year – and where there are still gaps.

Press Release: Wealth Managers Call on Asset Managers to Bolster Product Specialist Talent, New MMI-Broadridge Survey Reveals

Coverage on the survey and how it explores MMI members' views on trends and challenges across four topics: distribution, products and strategies, artificial intelligence, and business outlook.

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