State Street IM: European Wealth Report 2025
State Street IM: European Wealth Report 2025

Over the course of May to July 2025, State Street Investment Management surveyed more than 80 leading wealth managers across Europe, identifying their shared priorities, insights and challenges. Together, the respondents represent over $5 trillion in assets under management.
The survey gives a reliable glimpse of what’s in store for European wealth managers:
- ETFs remain dominant, with rising demand for both index and active strategies.
- Alternatives are moving up the agenda, though liquidity is the decisive constraint.
- Thematics, especially technology and AI, continue to capture attention.
- Cost pressures and regulatory complexity will drive decisions.
- Wealth managers want more innovation, deeper insights, and stronger support from asset managers.
'Looking ahead, flexibility may be the operative word of the decade. The future will demand not only better products but also better partnerships that combine efficiency, access, and insight to help clients thrive in a world where the 'conventional' (like the 60/40 portfolio or the idea of passive versus active as a binary choice) is ceding ground to innovative solutions,' Matteo Andreetto, Head of Intermediary Clients Coverage Europe, concludes.