Stephen Caruso
Associate Director, Wealth Management
About Stephen
As an associate director of wealth management, Stephen develops critical research on U.S. registered investment advisors (RIAs). His team is responsible for the collection, interpretation, and visualization of financial advisor data and defining emerging themes impacting the industry. He has issued groundbreaking coverage on the rise of merger and acquisition activity and related consolidation industry, the emergence of the RIA consolidator model, the role of private capital, financial advisor succession, and key practice management takeaways.
Stephen also leads Cerulli’s Advisor Research Collaborative (ARC), which consists of the development of strategic engagement activity to maintain and grow Cerulli’s proprietary network financial advisors.
He regularly presents at industry conferences and virtual events and is a member of the Money Management Institute’s Leadership Pathway Program.
Education:
- Roger Williams University, Bachelor of Arts in Economics and Political Science
Recent Project Work
- Conducted a comprehensive review of the RIA custodian marketplace to identify potential areas of market penetration
- Oversaw due diligence and strategic evaluation of acquisition opportunities in the wealth management space
- Developed and fielded custom surveys of financial advisors to assess product choice and affiliation preferences
- Prepared competitive analysis of RIA consolidators, assessing for market fit, growth metrics, and platform capabilities
Learn More about the U.S. Wealth Management Practice
Our Wealth Management practice is split into four distinct areas of coverage—offering top-down and bottom-up insights into the multi-faceted corners of the industry.