Intermediaries See Shift to Fixed Income Ahead of Rate Cuts, Eye New Markets for Growth: BOS Survey

Why It Matters

The pivot to fixed income signals market positioning ahead of monetary easing, reshaping product pipelines and revenue streams for wealth managers. Intermediaries’ digital and geographic strategies will dictate competitive advantage in a fragmented, tech‑driven wealth landscape.

Key Takeaways

• Fixed‑income demand expected to rise among intermediaries
• AUM for intermediary clients grew >30% in 2025
• Alternative investments and ETFs also projected growth
• 63% prioritize digital client experience improvements
• Over half plan geographic expansion, especially to Dubai

Pulse Analysis

The prospect of global central banks easing policy has ignited a rush to lock in yields, making fixed‑income solutions the centerpiece of many wealth‑management roadmaps. Intermediaries, who act as the conduit between high‑net‑worth clients and private banks, are recalibrating asset allocations to capture the premium offered by bonds before rates fall. This shift is amplified by lingering geopolitical uncertainty, which keeps investors wary of equity volatility and fuels demand for more predictable cash‑flow assets.

Beyond bonds, the survey highlights a broader diversification trend. Alternative investments and exchange‑traded funds are gaining traction, offering exposure to sectors such as commodities and emerging markets while delivering liquidity advantages. Gold, in particular, has surged as a safe‑haven amid ongoing geopolitical shocks, adding another layer to the portfolio mix. The combined growth of these asset classes reflects a client base that seeks both yield and resilience, prompting intermediaries to broaden their product suites and deepen expertise across multiple investment vehicles.

To sustain this momentum, intermediaries are investing heavily in technology and geographic reach. Over 60% cite enhanced digital onboarding, real‑time reporting, and AI‑driven insights as top priorities, recognizing that a seamless client experience is now a differentiator. Simultaneously, more than half plan to expand into new markets like Dubai, tapping into a younger, globally minded clientele. These strategic moves aim to boost scale, diversify revenue streams, and position firms at the forefront of the evolving wealth‑management ecosystem.