Rich individuals in Asia Pacific show greater willingness to change wealth provider than their global peers.
This indicates a major shift in client expectations and increasing pressure on the region’s wealth managers to modernise and deliver a more tailored, technology-driven service, the latest 2025 EY Global Wealth Research Report reveals.
According to the 6th edition of the report, 36% of Asia Pacific respondents say they are likely to change their primary wealth provider within the next three years, compared with a global average of 29%. The trend is even more significant in China, where 51% of respondents express openness to switching.
The report surveyed more than 3,500 individuals ranging from mass affluent to ultra-high-net-worth individuals, including about 1,100 respondents from Apac.
Elliott Shadforth, EY Asia-Pacific wealth and asset management sector leader, said: “Our survey suggests that wealthy clients across Asia Pacific are actively reassessing their financial partnerships, which is adding to the pressure on wealth managers from global market volatility.
The main reasons for switching providers include investment performance, a broader product offering, greater access to specialists and improved digital tools.
The report found that 74% of Asia Pacific respondents expect to move at least one-quarter of their portfolio away from their current primary provider, with most (48%) planning to move up to half and 25% of respondents planning to move a majority or all of their portfolio away.
Additionally, in response to market volatility, 51% of clients in the region have increased the number of planning meetings with their financial advisors—well above the global average of 44%.
“This shift signals a fundamental redefinition of what clients now expect from their wealth managers. It’s no longer just about delivering returns; it’s about providing a broad, personalized experience that leverages the best of human insight and digital innovation,” said Shadforth.
Patricia Tay, EY Asia-Pacific banking and capital markets sector leader, added: “As preferences shift towards sustainability and digital engagement, wealth managers must not only respond but anticipate these changes to remain competitive. The future of wealth management lies in building relationships based on trust, transparency, and a shared vision for financial success.”
Alternatives are gaining traction
Real estate continues to dominate as the most popular alternative investment class in Asia Pacific, with 68% of respondents including it in their current portfolios. However, interest in other alternative assets is gaining momentum, with more than 30% of respondents expressing willingness to invest in asset classes such as collectibles and artwork, hedge funds, private credit and secondaries.
Sustainable investing is also gaining popularity. The report shows that 37% of Asia Pacific respondents are already investing in transition-focused financial products, with another 44% showing interest in doing so. When it comes to the motivations behind value-based investments, performance returns were the top driver, followed by a desire for clearer risk and return profiles, as well as more transparent performance reporting.
In the digital asset space, Asia Pacific continues to lead. A notable 43% of respondents reported they were investing in crypto and other digital assets, compared to a global average of just 33%.
The adoption of digital tools and AI is another area where Asia Pacific clients are leading their global peers. A significant 72% of respondents in Asia Pacific expect their wealth managers to use AI in some capacity—substantially higher than the global average of 60%. Trust in these tools is also higher, with nearly half (49%) of Asia Pacific respondents saying they trust AI-powered tools as much as, or more than, human advisors. This is in contrast to just 38% globally.
