Market Entry and Expansion
Identify new target market opportunities and develop strategies to enhance your firm’s reach.

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Why Cerulli Associates
Market Entry and Expansion
Align your business model to capture new market opportunities. Our team of consultants can help you identify products, client channels, and geographies that will lead to marketshare growth. Pinpoint your next market expansion initiative and establish your growth plan. Learn more about Cerulli's advantages:
Data
For more than 30 years, we have captured critical data on the financial services industry and synthesized groundbreaking trends.
Independence
Our ownership structure provides us with an unbiased, objective approach to identifying new market opportunities.
Network
Our vast research network enables us to go to market quickly, testing market assumptions and developing accurate market sizing and sentiment analysis.
Consulting in Action
Client Success Stories
We provide our clients with the results they need to secure their competitive advantage.

CASE STUDY
U.S. Expansion and Vehicle Strategy for Boutique Asset Manager
Cerulli developed an expansion strategy for thoughtful asset growth for a boutique institutional asset manager seeking to expand its business. The strategy roadmap included recommendations on which segments of the U.S. market to target, which vehicle wrappers to offer, how to price the strategies, and key due diligence questions to answer. The roadmap also provided a wholesale revision of its distribution efforts, including new strategy, sales roles, and marketing tactics. Insights gathered from retail and institutional allocators and competitive analysis drove Cerulli’s strategic recommendations.

CASE STUDY
U.S. Institutional Distribution Strategy
A Canadian asset management firm sought to understand the size and dynamics of U.S. institutional distribution channels and evaluate the demand for its investment strategies across U.S. target channels. With Cerulli’s strategic guidance, the firm developed a revised distribution strategy to enter the U.S. market, including target market segments, clients, distribution channels, and optimal product structures. Cerulli also advised the client on optimal staffing structures for its expansion efforts, including the consideration of establishing a U.S. office, additional hires needed, and capacity considerations and staffing requirements for bringing strategies to market.

CASE STUDY
Asset Manager DCIO Entry Strategy
A mid-sized U.S. asset manager focused on distributing strategies through defined benefit plans, endowments, and foundations sought to expand its presence in the U.S. by targeting the DC channel. Cerulli developed a tailored DCIO entry strategy and expansion roadmap, including actionable steps to bolster staffing, develop new investment vehicle capabilities, and execute distribution and marketing to gain a foothold in the DC space and grow assets.
SUBJECT MATTER EXPERTS
Meet Our Consultants

Bing Waldert
Managing Director, U.S. Research
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Bing Waldert
Managing Director, U.S. Research
Bing Waldert leads Cerulli’s U.S. Research team comprising seven research practices that cover all elements of the U.S. asset management, wealth management, and retirement markets. He has authored Cerulli reports on the wealth management industry, high-net-worth market, the annuity industry, and retirement markets. He is a frequent board-level and C-suite speaker and well-regarded industry thought leader. He has spoken in front of the Investment Company Institute (ICI), the Asset Management Association of China (AMAC), the Investments and Wealth Institute (IWI), and the Money Management Institute (MMI).
He has worked on client projects on emerging manager expansion strategies, independent registered investment advisors (RIAs), multi-family offices (MFOs), investment platforms, and the outsourced chief investment officer (OCIO) industry. In addition, he has advised multiple private equity firms on acquisitions in the wealth management space.
Full biography here.

Andrew Blake
Associate Director
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Andrew Blake
Associate Director
Andrew is an Associate Director in the Wealth Management practice. He specializes in asset manager distribution strategies for products sold through financial advisors and is the author of The Cerulli Report—U.S. Intermediary Distribution. Before joining Cerulli Associates, he gained distribution experience at several firms, including Manulife John Hancock Investments. He also authored The Cerulli Report—U.S. Advisor Metrics, which explores trends in advisor practices, such as the use of investment products, client relationships, fees charged, and service offerings.
In his role, Andrew is also responsible for various strategic consulting engagements, focusing on key areas such as growth strategies, practice management, service expansion, M&A due diligence, product development, and distribution strategies.
Full biography here.

Asher Cheses
Director
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Asher Cheses
Director
Asher is a Director in the Wealth Management practice, specializing in research and consulting related to high-net-worth investors and advisory firms, including multi-family offices, RIAs, broker/dealers, private banks, and trust companies. As the co-head of Cerulli’s Wealth Management practice, Asher leads a team of analysts dedicated to developing data and insights to support Cerulli’s published research and consulting business. In his role, Asher is also responsible for leading various strategic consulting engagements, focusing on key areas including growth strategies, practice management, service expansion, M&A due diligence, product development, and distribution strategies.
Full biography here.

Michele Giuditta, CFA
Director
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Michele Giuditta, CFA
Director
Michele is a director in the Institutional practice, specializing in research and consulting related to institutional investors and third-party allocators, including defined benefit plans, endowments, foundations, insurance companies, healthcare organizations, investment consultants, and outsourced chief investment officers (OCIOs). As the co-head of Cerulli’s Institutional practice, Michele leads research for annual reports and strategic consulting engagements. During her tenure at Cerulli, Michele’s research has covered topics including investment consultants and OCIOS, responsible investing, alternative investments, and institutional distribution trends.
Prior to joining Cerulli Associates, Michele worked at Cambridge Associates as an Associate Director in the Client Relationship Management Group. Additionally, she worked at Manulife Asset Management in the Institutional Investment Sales & Services Group, holding roles in Product Management and Client Relationship Management. She began her career as an analyst in the Investment Policy & Research Group at John Hancock.
Full biography here.

Brendan Powers, CFA
Director
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Brendan Powers, CFA
Director
Brendan is co-head of Cerulli’s Product Development and Institutional practices.
The Product Development practice focuses on trends related to asset managers’ product strategy, development, and management functions. This broadly includes assessing the opportunity for product line expansion, evaluating emerging product trends, assessing optimal pricing strategy, and understanding distribution and product positioning for investment products across retail and institutional channels.
The Institutional practice specializes in research and consulting related to institutional asset owners, including defined benefit plans, endowments, foundations, insurance companies, and healthcare organizations as well as third-party allocators including consultants and outsourced chief investment officers (OCIOs).
Full biography here.

Michael Rose, MST
Director
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Michael Rose, MST
Director
Michael is a director within Cerulli’s Wealth Management practice, where he researches key elements of the wealth management industry, with an emphasis on broker/dealers and wealth management technology. In this capacity, he regularly engages with constituents across the wealth management ecosystem, including retail investors, financial advisors, and executives within wealth management, asset management, and technology firms, in order to support Cerulli’s market research initiatives.
Prior to joining Cerulli, Michael spent eight years working as a financial advisor, providing comprehensive wealth management services to high-net-worth individuals and families. Prior to his role as a financial advisor, Michael served as a research analyst for IDC, where he was responsible for researching trends within the technology industry and advising senior business executives on product strategy.
Full biography here.

Scott Smith
Senior Director
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Scott Smith
Senior Director
As the Senior Director of Advice Relationships, Scott leads Cerulli's coverage of fee-based managed accounts and investors' engagement preferences. With more than 25 years of wealth management experience, Scott adds valuable context and perspective in assisting Cerulli's clients with optimizing their advisors' and investors' platform experiences, given the evolving demand for financial advice.
During his tenure at Cerulli, Scott’s research and consulting work has covered the full spectrum of wealth management topics, from product development and wholesale distribution to portfolio management and comprehensive financial planning.
Full biography here.

James Tamposi, CFA
Associate Director
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James Tamposi, CFA
Associate Director
James (Jack) is an Associate Director in the Institutional practice, specializing in research and consulting related to institutional asset owners – including defined benefit plans, endowments, foundations, insurance companies, and healthcare organizations – and third-party allocators such as consultants and outsourced chief investment officers (OCIOs). Having contributed to reports across Cerulli’s suite of institutional research, he is the lead author of Cerulli’s North American Institutional Markets report, and he leads a team of analysts dedicated to developing data and insights to support Cerulli’s published research and consulting business. Supporting the firm’s consulting business, Jack has led institutional market entry strategy and pricing optimization projects for U.S. and non-U.S. asset managers.
Jack serves as President and Treasurer for the Massachusetts Air & Space Museum, a non-profit focused on fostering education through the preservation of aviation history. Prior to joining Cerulli, Jack worked as a Research Associate for Chatham Partners.
Full biography here.

Jared F. Baucom
Managing Director, Global Sales & Marketing
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Jared F. Baucom
Managing Director, Global Sales & Marketing
Jared is responsible for global sales, business development, and client service, including oversight of and coordination with the marketing team.
Prior to joining Cerulli, Jared worked as an equity analyst at Baring Asset Management, where he was responsible for the U.S. Utilities sector and also contributed to the U.S. Industrials sector. Prior to Barings, Jared spent two years at State Street Bank.
Full biography here.
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SOLUTIONS BY FIRM TYPE
Firms We Help

Asset Managers
We help institutional and retail asset managers globally understand how and where to expand in an increasingly competitive and fee-compressed environment. Learn how we can help you with your product development and distribution initiatives.

Wealth Management
What products, services, and pricing models will gather and retain investor assets? Cerulli will provide you with the strategic direction you need to help your advisors scale their businesses and help investors achieve better outcomes.

Private Market Firms
Cerulli can help you with each stage of the investment lifecycle—investment due diligence, management of portfolio companies, and product development and distribution into the wealth management industry.

Financial Technology
Cerulli can help you innovate toward the future with comprehensive market sizing and addressability for your services, insight into asset and wealth management trends that impact your business, and technology adoption analysis.