It shows that 79 per cent of respondents agree that their advisor has their best interests at heart. Despite this strong trust, loyalty is potentially eroding. When asked about reasons for switching banks or wealth managers, 42 per cent of investors cited a lack of trust in the advisor assigned to them and 37 per cent a lack of transparency. In the US, the figure for lack of trust rises to 60 per cent, the highest globally. 

While personalisation has the potential to address some trust issues, wealth managers face challenges delivering tailored services. Notably, 38 per cent pointed to a lack of time as the main barrier to providing more personalised advisory support. 

Perhaps in response to market volatility, investors are also increasingly relying on news articles for information, up 8 percentage points over 2024, the survey shows. While wealth industry professionals remain the leading source of information, there is also a 6-percentage- point uptick in the use of social media for investment insights. Collectively, these trends highlight opportunities for wealth managers to ensure clients receive accurate and trustworthy insights, the firm added. 

The report is a reminder of how advisors, banks and other wealth management players must work harder to entrench client loyalty or, if this is not possible, consider how to reach new clients instead. Concerns about client loyalty - or "stickiness" - are not new. Consider this EY report from 2019 as an example. Such results highlight why wealth firms across the world are scrambling to provide more added-value services, improve client reporting and strengthen brands to retain clients and prospect for new business among younger adults, such as Millennials. With AI and other technologies changing the game, it also means firms must arguably put more tech tools in clients' hands - a point made by Avaloq in 2024.

Interest rises in crypto and digital assets 

Investor attitudes toward crypto and digital assets are shifting, with a 5-percentage-point increase in the number of investors holding these assets compared to 2024, the survey reveals. Currently, 24 per cent of investors invest in crypto and digital assets through traditional banks or wealth managers, up from 13 per cent a year ago, while investment via challenger banks has doubled from 8 per cent to 16 per cent. 

Wealth management professionals have noticed this shift, as 54 per cent now consider crypto and digital assets important for client engagement, compared to 44 per cent last year. Despite this, 35 per cent of investors still distrust crypto exchanges. At the same time, 47 per cent would consider investing in crypto and digital assets if offered by their bank or wealth manager, an increase from 40 per cent in 2024, the survey reveals. 

Impact investing has global appeal 

Despite concerns over the ESG backlash, interest in ESG investing continues to grow, with the share of professionals citing its importance for client engagement rising from 55 per cent to 63 per cent, the firm said. In Asia, this increase is more pronounced, jumping from 41 per cent to 67 per cent, as the region embraces ESG as central to value creation and legacy planning. 

Globally, the proportion of investors pursuing ESG opportunities has climbed from 29 per cent to 41 per cent. Satisfaction with banks' ESG offerings is up to 42 per cent, compared to 36 per cent last year. However, fewer investors, down 5 percentage points to 29 per cent, feel their bank or advisor is clearly explaining their ESG approach, the survey shows. 

Clear communication is also vital for building trust between advisers and investors. In 2025, 77 per cent of investors ranked it as a top priority, second only to professional risk management and ahead of fast response times and the proactive introduction of new products. This emphasis is stronger in Europe, where 80 per cent of investors regard clear communication as very or extremely important. 

Technology also continues to play an important role in investing. While many investors still prefer in-person support for tasks such as mortgages (45 per cent) and loans (40 per cent), there is growing comfort with digital tools like chatbots and virtual assistants. Interest in placing trades digitally has risen to 31 per cent, up from 19 per cent in 2024, and 29 per cent of investors now welcome digital help in understanding portfolio performance, up 11 percentage points. Demand for personalised investment recommendations is also strong, with 59 per cent of investors wanting more tailored advice via digital banking channels. 

There has also been a 4-percentage-point increase in wealth management professionals viewing Al as essential to their work. Confidence in Al's industry benefits remains high and steady, at 81 per cent. Although investor resistance to Al has declined, professionals remain cautious about its acceptance. In 2024, 21 per cent of professionals believed clients would not trust Al for financial planning; this year, that figure has risen to 30 per cent. This suggests respondents may be underestimating clients' openness to Al, and perhaps also reveals a degree of resistance to change among professionals. 

"Al is augmenting the role of wealth management professionals, unlocking personalisation at scale and enhancing decision-making,” Urs Palmieri, wealth & asset management consulting leader, Switzerland, said. “Al will handle routine processes and tasks, freeing teams to focus on insight and meaningful client relationships. The true innovation lies in making the technology invisible and seamlessly embedded into the lifecycle to enhance the user experience.”

“Clients still value personal relationships, but they increasingly expect greater personalisation, transparency and digital interaction as part of the package,”  Georges Roten, managing director for Switzerland and Liechtenstein at Avaloq, added. “Our study shows how much potential there is for wealth managers to strengthen loyalty by embracing these expectations. By combining personal expertise with investment advisory technology, the industry can transform rising demands into stronger, longer-lasting client relationships.” 

Of those surveyed, 56 per cent were affluent, with investable assets between $250,000 and $1 million. Another 40 per cent fell into the high-net-worth (HNW) group, with investable assets ranging from $1 million up to $30 million. The ultra-high-net-worth (UHNW) segment, which includes individuals with more than $30 million in investable assets, made up 4 per cent of respondents. A majority of the investors, 77 per cent identified as male. The largest age group among respondents, representing 28 per cent, was those aged 35 to 44.