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In Practice July 17, 2025
Advisers Step Up as Clients Face Market Uncertainty
During market swings and economic stress, advisers delivered steady guidance, reinforced their value and identified growth opportunities despite the volatility, according to an InspereX survey.
Reported by Judy Faust Hartnett
Spring 2025 was defined by uncertainty. Markets were turbulent, headlines were dominated by economic and geopolitical tension, and investor anxiety was high.
In the face of these pressures, financial advisers leaned into their roles as steadying forces offering more than portfolio advice. They reassured clients, helped them tune out short-term noise and kept their focus on long-term goals, according to findings from the InspereX 2025 Advisor Pulse Outlook Survey.
Volatility Seen as a Relationship-Building Opportunity
The survey found that advisers largely view market volatility not as a setback, but as a strategic moment in which to deepen client relationships and demonstrate their value. When asked whether they believe this period of market uncertainty is a good time to strengthen client connections, 69% responded yes, emphasizing that challenging conditions are often when their guidance is most needed—and most appreciated.
Another 22% said it depends on the client’s mindset, recognizing that not every investor is equally receptive during turbulent times. These advisers tailor their approach based on each client’s emotional and financial readiness. A smaller group—7%—said they believe volatility is not an ideal time for relationship building, noting that most clients in these moments are simply seeking reassurance, rather than strategic guidance.
According to the Advisor Pulse Outlook Survey, 23% of advisers pointed to calming clients as their biggest challenge during this period, and another 23% cited keeping up with market changes. Communicating value came next at 15%. Despite these headwinds, nearly 70% still saw the environment as an opportunity to reinforce adviser-client trust and alignment.
Advisers Prioritize Client Communication Over Daily Operations
When asked how they are currently spending most of their time, advisers revealed a strong emphasis on proactive client engagement. The largest share (34%) said they are focused on proactively reaching out to clients, underscoring the importance of staying connected during uncertain times. This outreach often includes check-ins, updates on market conditions and reinforcing long-term strategies to help clients stay the course.
Another 21% reported spending most of their time managing portfolios, while 17% are primarily responding to client concerns. Respondents said prospecting and marketing accounted for 15% of advisers’ time, showing that even amid volatility, growth remains a priority. The remaining 10% cited internal planning or operations.
Referral Growth Highlights Business Development Momentum
In 2025 so far, the top sources of new clients have all been referral-driven—led by unsolicited referrals, which outpaced other methods by a wide margin. Advisers cited their most effective new business strategies as referrals without asking (76%), directly asking for referrals (38%) and networking with other professionals (38%). Respondents could select more than one approach, reflecting the varied tactics advisers are using to grow their practices.
“The power of the referral continues to drive growth for advisers,” said Chris Mee, InspereX’s managing director and head of wealth management solutions wholesale distribution, in a statement. “It says everything about the importance of service, communications, and commitment—clients appreciate it and reward their advisers with referrals.”
The survey findings illustrated a profession that continues to adapt—balancing tactical execution with emotional intelligence and long-term vision with near-term support. As in past pulse surveys, the authors said the results revealed a consistent theme: Advisers are more focused on structural, long-term trends, while clients remain preoccupied with immediate financial pressures. Bridging that gap continues to define the adviser’s role and value, according to InspereX.
The 2025 Spring Advisor Pulse Survey was conducted by InspereX, a fixed-income platform, in partnership with Red Zone Marketing. The survey included responses from 829 financial professionals across independent broker/dealers, registered investment advisers, banks, regional firms and wirehouses. The survey was fielded from May 12 through May 19.
