Recency Bias is a cognitive bias where we often place too much significance on the latest data or experience.

The journey from introduction to approval consists of three major milestones: Introduced, Reviewed, and Approved. Each stage sharply narrows the field, and conversion rates vary dramatically by channel.

While factors like track record and asset class are broadly important, their weight varies significantly by gatekeeper. These distinctions have real implications for how managers approach product presentation, resource allocation, and engagement strategy.

The landscape of alternative investments continues to evolve rapidly. This research note explores the accelerating adoption of alternatives and larger allocations in portfolios across key distribution channels, including Banks, RIAs, and Independent Broker-Dealers.