The perspective for the majority of the brokers, asset managers, and exchanges sector in 2025 seems relatively favorable, with possible continual returns of 20%-plus in the U.S. equity markets for a third consecutive year. Key drivers likely influencing these markets include increased capital markets activities, a potential for relaxed regulations which might encourage product innovation and more extensive capital deployment, along with the possibility of reduced taxation on individual and corporate levels.

Analysts have expressed positive sentiments regarding developments within the brokers, asset managers, and exchanges sector. They highlighted that alternative asset managers are anticipated to benefit from enduring secular growth drivers. In contrast, the appeal of exchanges is seen as limited in favorable markets, resulting in slower growth compared to more asset-sensitive financial entities such as asset managers and certain brokers. The potential influence of political policies on the energy exchange segment was also discussed, though other asset classes are perceived as having less compelling growth prospects. The brokerage sector is favored for its resilience, supported by stable short-term rates that enhance margin lending and other high-margin activities, coupled with a retail customer base experiencing profitability, which could extend the active trading phase for retail investors.