Fourth Annual CAIS Mercer Survey Shows Alts Moving From Niche to Norm With Half of Advisors Now Allocating 10%+ to Alts

Nine in 10 advisors now allocate to alternative investments and nearly half of respondents dedicate more than 10% of client portfolios, with demand growing from non-accredited clients

NEW YORK--(BUSINESS WIRE)--Alternative investments have moved from the margins to the mainstream, according to insights from nearly 800 financial advisors surveyed in the fourth annual study conducted by CAIS and Mercer. The results reveal widespread adoption, with nine in 10 financial advisors (90%) currently allocating to alternatives, and 88% planning to increase allocations over the next two years.

According to the survey, nearly half of advisors (49%) now allocate more than 10% of client portfolios to alternatives, while three-quarters (74%) allocate at least 5%. The findings also revealed that alternatives are reaching a wider client base: four in five advisors (80%) serving non-accredited investors now allocate to alternative investments, underscoring the growing democratization of private market access. Advisors cited client education and suitability as top priorities to responsibly scale this next phase of adoption.

“This year’s results send a clear message: advisor demand for alternatives isn’t a passing trend, instead it’s a structural shift,” said Brad Walker, President of CAIS. “We’re seeing advisors integrate alternatives as a core part of portfolio construction. As technology and AI continue to streamline access, we expect these allocations to deepen even further.”

With growing demand for alternatives, advisors are increasingly focused on optimizing workflows. The majority of advisors (77%) prefer model portfolios to simplify alternative investing, while more than half (55%) regard analysis tools as their most valuable technology feature. Integrations (49%) and digitization (47%) followed closely behind, reinforcing the increasing role of technology and data-driven insights in advisor practices.

Despite the focus on digitization, responses indicate that advisor learning remains human-led. Personal interaction, through one-on-one meetings and live events, remains the preferred approach for advisors exploring opportunities in alternatives.

“Four years of consistent results indicate that advisors have a level of conviction around alternatives that parallels other institutional investors,” said Gregg Sommer, Partner and US Financial Intermediaries Leader at Mercer. “As advisor adoption continues, enhanced due diligence and research tools intended for the advisor community will be crucial in helping meet this demand.”

Advisors reported top allocations across private equity (89%), private credit (88%), and real estate (86%). Interest in thematic areas also gained momentum, including artificial intelligence (70%), tax-advantaged strategies (58%), and energy transition-related investments (36%), reflecting both diversification goals and client interest in innovation-driven strategies. Also, half of advisors surveyed plan to increase or maintain their allocation to structured notes in the next year.

To view the full report and findings, click here.

Survey Methodology
The 2025 CAIS Mercer Survey was conducted from September 17 – October 17, 2025, including responses gathered at the CAIS Alternative Investment Summit, the industry’s marquee event for independent advisors and asset managers hosted in Beverly Hills, CA. Respondents included independent RIAs, broker-dealer affiliates, family offices, and other advisor professionals. The data reflects responses from nearly 800 financial advisors.

About CAIS
CAIS is the leading alternative investment platform for independent financial advisors. The CAIS platform powers the pre-trade, trade, and post-trade lifecycle of alternative investments and capital market strategies providing financial advisors and alternative asset managers with a single operating system for scale and efficiency.

CAIS serves over 2,000 wealth management firms that support more than 62,000 financial advisors who oversee approximately $7.5 trillion in end-client assets. Founded in 2009, CAIS is headquartered in New York City with offices in Austin, TX; London; and Red Bank, NJ.

CAIS continues to be recognized for its innovation and leadership including awards for Alternative Investment Firm of the Year by Wealth Solutions Report, WealthTech100 List by Fintech Global, Great Places to Work by Fortune, Best RIA Platform by SPi, Best Alternative Investments Solution by Finovate, and many others.

For more information about CAIS, please visit www.caisgroup.com.

Securities offered through CAIS Capital LLC, member FINRA, SIPC.

About Mercer
Mercer, a business of Marsh McLennan, is a global leader in helping clients realize their investment objectives, shape the future of work and enhance health and retirement outcomes for their people. Marsh McLennan is a global leader in risk, strategy and people, advising clients in 130 countries across four businesses: Marsh, Guy Carpenter and Oliver Wyman. With annual revenue of $24 billion and more than 90,000 colleagues, Marsh McLennan helps build the confidence to thrive through the power of perspective. For more information, visit mercer.com or follow on LinkedIn and X.