New research from CION Investments, YCharts and Compound Insights reveals insights into how advisors think about and use alternative investments

The results of a new survey released today indicate broad adoption of alternative investments within client portfolios, a widespread implementation trend being driven by advisors and clients alike. The findings are detailed in From Public to Private: How Advisors Are Using Alternative Investments, a new research paper based on a joint survey conducted by CION Investments (CION), a premier platform for alternative investment solutions, YCharts, and Compound Insights. Compound Insights conducts research through The Compound Media, Inc., which is affiliated with Ritholtz Wealth Management ("Ritholtz"), a Registered Investment Advisor (RIA).

According to the survey 95% of respondents reported using alternative investments in client portfolios, with 61% saying they incorporate evergreen vehicles and interval funds across “many” client accounts. 50% of advisors surveyed said they use liquid alternative ETFs. The findings suggest that alternatives have evolved beyond niche allocations to become a more generally adopted component within client portfolios.

“For decades, many alternative investment strategies were largely reserved for institutional investors and the ultra-high-net-worth investor class,” said Michael A. Reisner, co-founder and co-CEO of CION Investments. “As access continues to expand, advisors have an opportunity, perhaps even a responsibility, to help clients understand the role these investments may play within a broader portfolio as well as the trade-offs that come with them. Our research reinforces the need for education, transparency and thoughtful implementation in helping investors capture today’s market dislocations so that they can pursue their long-term financial goals.”

The report offers a detailed look at how advisors are incorporating alternative investments into client portfolios, where they see opportunities for expanded use and the factors influencing implementation. The findings also indicate continued advisor interest in expanding their use of alternatives. More than half of respondents (52%) expressed interest in increasing their allocation to infrastructure and real assets, reflecting continued demand for differentiated sources of exposure. Interest in private equity and private credit also remained strong.

While adoption is widespread, advisors indicate they are mindful of the practical considerations associated with alternative investments. Liquidity concerns emerged as the leading barrier to broader implementation, cited by 61% of respondents. The findings suggest that thoughtful implementation requires aligning investment structures with clients' objectives, time horizons and liquidity needs.

The survey also found that advisors are using a range of vehicles to access alternative investments, reflecting the evolution of the marketplace and the growing number of pathways available to individual investors. As alternatives become more prominent in client conversations, the survey highlights the importance of practical considerations for advisors, including developing a clear implementation framework, conducting thorough due diligence and maintaining ongoing communication around the role and trade-offs associated with these investments.

“The data paints a nuanced picture,” said Callie Cox, chief strategist at Compound Insights and chief market strategist at Ritholtz. “Advisors are expanding their use of alternatives, but they're also clear-eyed about the considerations that come with them. That tension between opportunity and practicality may be one of the defining themes shaping adoption going forward.”

The report offers six practical takeaways to help advisors navigate that tension:

1. Adopt a common language. Before you advise clients on alternatives, learn your firm’s specific stance on what alternatives are and how they’re treated. It’s important that you and your colleagues are speaking the same language.
2. Implement a clear strategy. Alternatives adoption is growing fast, and you’ll need to be able to speak to the asset class at a minimum and articulate your firm’s stance.
3. Understand the why. Lean on your investment team to understand the benefits and drawbacks of different investments, including what you gain and give up through prioritizing liquidity and transparency.
4. Prioritize thorough research. Invest in research, whether you’re recommending alternative investments to clients or simply responding to opportunities they bring you.
5. Be an intentional communicator. Have a plan for monitoring alternative investments and educating the client on their use and purpose. There’s a delicate balance between too little and too much.
6. Find the shades of grey. Instead of blindly recommending an allocation or closing your mind off to the entire space, consider how alternatives can help different types of clients achieve specific outcomes.

The question for advisors isn’t whether alternatives are worth allocating to. Rather, it’s how they can enhance a portfolio, and what tradeoffs clients are willing to accept.

Results reflect the responses of 301 registered investment advisors to a survey fielded between April 7 and May 6, 2026. To download the full report, From Public to Private: How Advisors Are Using Alternative Investments, visit https://cioninvestments.com/insights/how-advisors-are-using-alternative-investments

ABOUT CION INVESTMENTS

CION Investments is a leading open-source provider of alternative investments designed to redefine the way individual investors can build their portfolios and seek to meet their long-term investment goals. CION Investments currently sponsors CION Investment Corporation (NYSE: CION), a leading publicly listed business development company that currently manages approximately $1.8 billion in assets, CION Ares Diversified Credit Fund, a globally diversified interval fund that currently manages approximately $7.3 billion in assets, and the CION Grosvenor Infrastructure Fund, a recently launched interval fund with approximately $449 million in assets.

For more information, please visit www.cioninvestments.com.

The Compound Insights conducts research surveys through The Compound Media, Inc., an affiliate of Ritholtz Wealth Management, a Registered Investment Adviser. Callie Cox is Chief Market Strategist at Ritholtz Wealth Management, LLC. All opinions expressed by Callie Cox are solely her own opinion and the assumptions made within the analysis are not reflective of the position of Ritholtz Wealth Management, LLC.

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