Most US advisers allocating to private credit

Nine in 10 advisers in the US are now allocating to alternatives, with private credit topping commitments, a survey has revealed.

Around 88 per cent of advisers expect to increase their allocations to alternatives over the next two years, while 90 per cent are currently investing in the market, according to research from investment platform CAIS and consultancy Mercer.

Advisers reported that their largest allocations are to private equity (89 per cent), private credit (88 per cent) and real estate (86 per cent).

Read more: Private credit beyond US hits $18bn

The survey polled 800 financial advisers from 17  September to 17 October 2025, including responses gathered at the CAIS Alternative Investment Summit.

The research found that nearly half of respondents allocate more than 10 per cent of client portfolios to alternatives, while three quarters allocate at least five per cent.

CAIS and Mercer also noted that alternatives are expanding beyond wealthy investors. Four in five advisers serving non-accredited clients now include alternative investments in portfolios.

Read more: Private credit rises to $3.5tn as capital deployment hits record high

Advisers cited client education and suitability as top priorities to responsibly scale this next phase of adoption.

“This year’s results send a clear message: adviser demand for alternatives isn’t a passing trend, instead it’s a structural shift,” said Brad Walker, president of CAIS. “We’re seeing advisers integrate alternatives as a core part of portfolio construction.”

Most advisers said they prefer using model portfolios to help simplify alternative investing, while more than half identified analytical tools as the most valuable piece of technology in their workflow.

“Four years of consistent results indicate that advisors have a level of conviction around alternatives that parallels other institutional investors,” said Gregg Sommer, partner and US financial intermediaries leader at Mercer.

Read more: ‘Tilt’ towards Europe as private credit fundraising surges