US advisors’ satisfaction with asset managers on the rise

Nine out of ten advisors are very or quite satisfied with the managers they work with, up from 59% in 2021 

Key points: 

• Satisfaction among US advisors with asset managers has increased from 51% in 2021 to 90% in 2025. 

• Advisors are most satisfied with asset managers’ insights and thought leadership. 

• Recommendations from colleagues are the main trigger for research into a new fund. 

The majority of US financial advisors is either very satisfied (38%) or quite satisfied (52%) with the asset managers they work with, according to research by Aureum Y, Fundamental Group’s research division. 

This is a substantial increase compared to 2021, when 19% of advisors was very satisfied and 40% quite satisfied with their asset managers.  

Advisors expressed the highest satisfaction with asset managers’ insights and thought leadership, followed by communications, meetings and online events. However, there remains room for improvement. Advisors cited a desire for more client-friendly materials and client access to webinars, as well as more continuing education (CE) opportunities.  

These findings are based on a survey conducted between November 2024 and January 2025, capturing responses from 1,096 US financial intermediaries, including broker-dealers (52%), RIAs (21%), wirehouses (14%) and other intermediaries (13%).  

What drives fund research and selection? 

Recommendations from colleagues, email updates from asset managers and client requests are the main triggers to research a new fund. When conducting research, US intermediaries are mainly searching for fund performance, factsheets and fees.  

Cost and investment philosophy are the most important factors when selecting funds, particularly important to RIAs and hybrid advisors. When selecting ETFs, low fees and liquidity are the most important factors, with active ETFs and index-tracker ETFs being considered the most. 

Other findings from the 2025 US engagement survey include: 

• US equities, multi-asset/flexible and fixed income are expected to experience inflows over the next year, with growing interest in alternatives and private equity. Meanwhile, interest in ESG has dropped sharply, with 43% expecting to further reduce exposure due to low client demand. 

• Most US intermediaries like to attend events with only 17% stating they do not attend any events.Physical events are preferred by 44% of respondents, while online events are preferred by 30%.  

• More than half of respondents read newsletters at least weekly, mainly a few times a week, while podcast usage shows a mixed picture with 35% listening at least once a week and 38% not listening to them at all.