BlackRock’s inaugural 2026 Advisor Trends Survey highlights rapid industry transformation driven by increasing high-net-worth wealth, model portfolio adoption, and the need for personalised, tax-aware strategies amid execution gaps.
BlackRock’s inaugural 2026 Advisor Trends Survey paints an advisory industry in the midst of structural change, driven by the rapid concentration of wealth among high‑net‑worth families and shifting client expectations for bespoke, tax‑aware solutions. According to the report by BlackRock, more than 1,000 U.S. financial advisors were surveyed and 92% of respondents serve clients with $5 million or more in assets under management, while high‑net‑worth and ultra‑high‑net‑worth families now hold roughly 54% of U.S. household financial assets, up from 27% a decade ago.
The study finds model portfolios have moved from efficiency tool to strategic centrepiece. Nearly nine in ten advisors report using model portfolios and expect model AUM to rise to about 50% over the coming year, with Millennial advisors leading the push to customise models, prioritising growth, operational efficiency and more sophisticated investment and tax solutions such as concentrated stock strategies. According to a State Street Global Advisors report on model evolution, widespread model adoption similarly frees advisers to focus on higher‑value client work, corroborating BlackRock’s finding that models allow more time for complex client engagement.
Yet the survey exposes a clear gap between client needs and advisor execution on tax management. BlackRock reports 92% of advisors who serve high‑net‑worth clients say they are asked for tax guidance, but only 17% consider after‑tax returns a primary driver of portfolio decisions. WealthManagement.com and InvestmentNews highlighted that this disconnect represents a notable opportunity for firms to differentiate by embedding tax‑aware portfolio construction and planning into standard practice. Jaime Magyera, Head of BlackRock’s U.S. Wealth and Retirement Businesses, said: “As high‑net‑worth wealth rises, advisors face a clear mandate – deliver more personalized, tax‑managed solutions,” and the survey suggests many firms will need to modernise workflows and create capacity for deeper relationships to meet that mandate.
Private markets are becoming an increasingly common, if still modest, part of advisers’ toolkits. BlackRock’s research shows more than half of advisors, and three in four wirehouse advisors, now invest client assets in private markets, but average allocations remain around 7%, limited by liquidity concerns and adviser confidence. BlackRock’s companion Private Markets Outlook for U.S. Wealth stresses the growing range of structures, from semi‑liquid vehicles to evergreen funds, that can help integrate private exposures with traditional portfolios, while the survey respondents indicate 68% want more education on constructing portfolios that include private assets.
Time‑intensive, high‑value services such as estate planning, intergenerational wealth planning and liquidity‑event planning are critical to attracting and retaining wealthy clients, the survey shows. Many advisers are responding by outsourcing specialist tasks and adopting technology to free up adviser time for relationship‑building and holistic planning, a trend noted in the Business Wire release accompanying BlackRock’s findings. Industry reporting also points to a generational divide in practice design: Millennial advisers are more likely to combine customised SMAs and alternative allocations within model frameworks, potentially accelerating product complexity and client expectations.
Taken together, the BlackRock survey and related industry analyses depict an advisory sector at an inflection point: growing client wealth and rising demand for personalised, tax‑sensitive outcomes are prompting wider use of customised model portfolios and selective private market exposure, but execution gaps in tax integration and private‑asset confidence may determine which firms secure the next wave of high‑net‑worth growth. Industry data and commentators conclude that firms that invest in adviser education, tax planning capabilities and scalable portfolio solutions are best placed to convert structural wealth shifts into sustainable growth.
- https://www.gurufocus.com/news/4110732/blackrock-advisor-survey-shows-advancing-highnetworth-business-is-driven-by-tax-management-private-markets-and-customized-model-portfolios – Please view link – unable to able to access data
- https://www.blackrock.com/us/financial-professionals/insights/practice-management/advisor-trends-survey – BlackRock’s 2026 Advisor Trends Survey reveals that 92% of U.S. financial advisors serve clients with $5 million or more in assets under management. The survey highlights a structural shift in the advisory industry, with high-net-worth and ultra-high-net-worth families now holding 54% of U.S. household financial assets, up from 27% a decade ago. Advisors are increasingly customizing model portfolios with separately managed accounts (SMAs) and private markets to meet the complex needs of wealthy clients. However, there’s a notable gap between client expectations and advisor offerings, particularly in tax management strategies.
- https://www.blackrock.com/us/financial-professionals/insights/private-markets-outlook-for-wealth-advisors – BlackRock’s 2026 Private Markets Outlook for U.S. Wealth discusses the evolving landscape of private markets, emphasizing the importance of private credit, infrastructure, private equity, and real estate in wealth portfolios. The report highlights the blurring lines between public and private markets, with semi-liquid and evergreen structures allowing advisors to integrate private exposures into traditional portfolios. It underscores the need for advisors to thoughtfully integrate these exposures to align with client outcomes and benefit from global transformations.
- https://www.wealthmanagement.com/high-net-worth/blackrock-advisors-to-hnw-clients-should-offer-more-tax-services – An article on WealthManagement.com discusses BlackRock’s findings that advisors serving high-net-worth clients are underutilizing tax-aware strategies. Despite 92% of high-net-worth clients seeking tax guidance, only 17% of advisors consider after-tax returns a primary driver of portfolio decisions. The article emphasizes the need for advisors to deliver more personalized, tax-managed solutions to meet the complex needs of wealthy clients and highlights the gap between client expectations and advisor offerings in tax planning services.
- https://www.investmentnews.com/alternatives/blackrock-poll-shows-advisors-chasing-hnw-growth-with-tax-private-market-offerings/264829 – InvestmentNews reports on BlackRock’s inaugural Advisor Trends Survey, revealing that financial advisors are increasingly focusing on tax management, private markets, and customized model portfolios to attract high-net-worth clients. The survey indicates that nearly 90% of advisors use model portfolios, with millennial advisors leading the customization by adding separately managed accounts (SMAs) and alternative investments. Despite the high demand for tax guidance among high-net-worth clients, many advisors underutilize tax-aware strategies, with only 17% considering after-tax returns a primary driver of portfolio decisions.
- https://www.businesswire.com/news/home/20260114473493/en/ – A Business Wire press release announces BlackRock’s findings from its inaugural Advisor Trends Survey, capturing the perspectives of over 1,000 U.S. financial advisors. The survey highlights a structural shift in the advisory industry, with high-net-worth and ultra-high-net-worth families now holding 54% of U.S. household financial assets, up from 27% a decade ago. Advisors are increasingly customizing model portfolios with separately managed accounts (SMAs) and private markets to meet the complex needs of wealthy clients. However, there’s a notable gap between client expectations and advisor offerings, particularly in tax management strategies.
- https://www.ssga.com/library-content/assets/pdf/apac/models-research/2025/model-portfolios-and-the-evolution-of-advice.pdf – A report by State Street Global Advisors discusses the evolution of model portfolios and their role in the advisory industry. It highlights that 96% of advisors use models in some capacity, emphasizing their central role in managing practices and delivering value. The report also notes that advisors who outsource investment management to a model provider spend about half as much time on tasks like research, due diligence, and trading compared to those who don’t use models or build their own, allowing more time for client service.
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The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
10
Notes:
The narrative is based on BlackRock’s inaugural 2026 Advisor Trends Survey, released on January 14, 2026. The earliest known publication date of substantially similar content is the same date, indicating high freshness. The report is a press release, which typically warrants a high freshness score. No discrepancies in figures, dates, or quotes were found. No earlier versions show different information. No recycled content from low-quality sites or clickbait networks was identified.
Quotes check
Score:
10
Notes:
The direct quote from Jaime Magyera, Head of BlackRock’s U.S. Wealth and Retirement Businesses, appears to be original, with no identical matches found in earlier material. No variations in wording were noted.
Source reliability
Score:
10
Notes:
The narrative originates from BlackRock, a reputable organisation. The report is a press release, which typically warrants a high reliability score.
Plausability check
Score:
10
Notes:
The claims about the concentration of wealth among high-net-worth families and the shift in the advisory industry are plausible and supported by the data presented. The narrative aligns with recent industry trends and is covered by reputable outlets such as InvestmentNews. ([investmentnews.com](https://www.investmentnews.com/alternatives/blackrock-poll-shows-advisors-chasing-hnw-growth-with-tax-private-market-offerings/264829?utm_source=openai))
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): HIGH
Summary:
The narrative is based on BlackRock’s inaugural 2026 Advisor Trends Survey, released on January 14, 2026. The content is original, with no recycled material identified. The direct quote from Jaime Magyera appears to be original. The source is BlackRock, a reputable organisation. The claims are plausible and supported by the data presented. The content is not behind a paywall and is a factual news report.