In Asia, what financial advisers are asking for has changed. The emphasis has shifted from gaining access to alternatives to securing the analytics, compliance support and implementation capabilities needed to invest with confidence and serve clients at scale, according to iCapital’s annual Asia Advisor Survey.

In comparison to findings from iCapital’s Global Advisor Survey, while European advisers ask for model portfolios and client communication tools, advisers in Asia are asking for risk analytics, real-time pricing, and compliance support, and their education demand has moved furthest towards advanced material.

Drawn from a global survey of over 870 registered financial professionals globally, the Asia survey highlights findings from 62 respondents located in Hong Kong and Singapore, spanning private banks, IFAs and family offices. 

The survey analyses allocation trends and investor demand, alongside operational, technology, and implementation challenges shaping the next phase of alternatives adoption.

The survey revealed several trends.

First, advisers in Asia are committing to alternatives at a time of markedly lower confidence. More than a quarter of advisers now plan to increase allocations over the next 12 months, even though positive economic sentiment in Asia had the steepest decline of any region surveyed. 

Second, demand for risk and performance analytics tools increased by 22% to lead the region, while regulatory concerns rose 15%. Difficulty assessing liquidity and risk exposure remains the most cited obstacle.

Third, private credit, the leading area of interest in 2025 and the defining feature of last year’s Asia findings, fell by 23%. Real estate, other real assets, and venture capital all rose by double digits, while private equity and hedge funds held broadly steady.

Fourth, client reporting, the top-ranked barrier in Asia last year, fell by 18%. Complexity in explaining alternatives to clients now ranks first, and lack of educational resources has doubled, pointing to a knowledge gap rather than an infrastructure one.

Finally, two thirds of advisors selected advanced topics in alts as their biggest interest area, recording the highest demand for advanced material of any region surveyed.