RIA Confidence Rebounds as Advisors Turn More Bullish on Markets, Survey Finds 

Independent registered investment advisors (RIAs) are closing out the year on a more optimistic note, according to new data from Interactive Brokers. More than half of advisors (51%) are bullish on U.S. markets, while 47% hold a positive view of global markets—a meaningful improvement from earlier in the year. 

The fall installment of the 2025 Interactive Brokers Advisor Insights Survey shows a notable sentiment shift: 59% of advisors have changed their market views since June, with 29% becoming more bullish and 30% turning more bearish. Despite the upswing in confidence, advisors remain cautious. A potential market correction tops their list of concerns, while clients are most worried about volatility. The year’s biggest surprises, advisors say, were the sharp rise in gold prices and renewed trade and tariff tensions. 

Advisors are actively adjusting portfolios in response to changing macro conditions. 21% are boosting U.S. equity exposure, 52% are holding steady, and 41% are increasing allocations to non-U.S. equities. Cash balances are beginning to decline, with 27% reducing cash positions heading into year-end. 

“2025 has been a wild — but generally satisfying — ride for most in U.S. equity markets, but markets rely heavily on investor psychology,” said Steve Sosnick, Chief Strategist at Interactive Brokers. “It would not be surprising if advisors and investors become more reflective about the balance between risk and reward as we get closer to the end of the year.” 

Optimism extends beyond the markets: 72% of advisors expect to grow their businesses in 2025. Technology adoption is accelerating as well—the survey found 79% of advisors now use generative AI tools, with 58% using them more today than they did at the start of the year. 

The survey includes responses from 116 fee-based financial advisors, averaging 16 years of industry experience and overseeing approximately $79.6 million in client assets individually. Respondents reported working at firms managing an average of $307 million in client assets.