A new survey report from AssetMark suggests that private market investments have moved from a niche offering to a necessity, with 91% of advisors saying that access to the investments is critical for differentiation among the client base they serve.
Michael Kim, CEO of AssetMark, said in a statement that advisors are signaling that private market investments are no longer an optional service — especially advisors with higher practice assets under management and those serving wealthier clients.
“They’re a strategic necessity,” Kim said. “Our research shows that clients’ desire for diversification, exclusivity and inflation protection is accelerating adoption, and advisors are preparing to meet these expectations.”
Among advisors not currently offering private market investments, the survey shows, 68% said they plan to add them within the next year. Within that group, some 59% say they would consider switching firms to gain access.
Among advisors who already offer private market investments, 83% expect allocations to increase over the next three years. This momentum reflects both advisor conviction and rising client expectations, according to the survey, particularly among high-net-worth households.
As the survey details, nearly half of advisors not currently offering private markets manage $500 million or more in assets. Over a third serve clients with household incomes above $1 million.
“These advisors represent a significant opportunity for expansion into private markets if accessibility and education improve,” the report suggests.
Despite the strong interest, survey results show, advisors cite persistent barriers that limit broader adoption. These include high investment minimums and limited liquidity, both cited as top concerns among those already offering private market investments.
High minimums are especially challenging for clients with less than $1 million in assets, according to advisors in the survey. This is driving a broad call for solutions that offer easier onboarding, transparent fees and data, and flexible redemption options.
These improvements could significantly broaden participation, making private markets more practical for a wider range of clients, according to David McNatt, AssetMark executive vice president and chief wealth solutions officer.
“Reducing entry points and improving liquidity are game changers,” McNatt said. “These enhancements could help advisors engage clients often excluded — including investors under 40 and emerging high-net-worth clients — creating modern solutions that facilitate multi-generation opportunities for firms.”
Pairing these advancements with education and ease of use will give advisors the confidence to integrate private markets into more portfolios, McNatt added.
Ultimately, McNatt and Kim argued, the survey findings point to a clear call to action for firms to evolve to meet the rising demand for private market access.
“Advisors are ready to embrace these investments, but they need platforms that reduce friction, lower barriers, and support a broader range of clients,” the report concludes. “As private markets shift from exclusive to essential, the firms that prioritize accessibility, education, and ease of use will be best positioned to lead the next wave of advisor innovation.”
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