Private Equity
What Business Models Are Most Attractive to Advisors Near Retirement?
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Jared F. Baucom
Managing Director, Global Sales & Marketing
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Advisor Succession Looms Large
Within the next ten years, 37% of financial advisors who collectively control $10.4 trillion, or 40% of total industry assets, expect to retire. Among advisors retiring in the next decade, 27% plan to transition their book of business to another advisor in their practice, while 25% are unsure of their succession plan.
Distribution of Advisor Headcount by Advisor Age, 2015 vs. 2020
As advisors age, they are seeking partners to help them gracefully exit the industry and ensure that their clients remain well cared for. This raises a set of countervailing issues such as type of service model, advisor compensation, and the value of their practice.
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Cerulli can help you understand the types of business models that will be most appealing to advisors as they seek to transfer their businesses and clients.
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Wealth Management
Subject Matter Experts
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.
Donnie Ethier
Senior Director
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Donnie Ethier
Senior Director
Donnie Ethier is the head of Cerulli Associates’ Wealth Management practice. The Wealth Management practice is dedicated to helping clients proactively adapt to retail financial advice and planning trends, including the high-net-worth markets. Donnie oversees the practice’s annual research agenda and is a core contributor to consulting engagements, syndicated research, and the The Cerulli Edge—U.S. Advisor Edition.
Since joining Cerulli in 2012, Donnie has led several practices and research initiatives including the Wealth Management, High-Net-Worth, and Annuity practices. Prior to joining Cerulli, Donnie held roles at Sun Life Financial and Sun Life Financial Distributors for eight years focusing on market and distribution strategy, product development, competitive intelligence, and professional development.
Full biography here.
Asher Cheses
Associate Director
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Asher Cheses
Associate Director
Asher is a member of Cerulli’s Wealth Management practice, specializing in trends that impact high-end advisory firms and high-net-worth investors. In his role, Asher is responsible for leading various strategic consulting engagements within the wealth management practice, focusing on multi-family offices, RIAs, private banks, and trust companies.
Prior to joining Cerulli, Asher worked as an Investment Analyst at a Boston-based multi-family office, where he conducted fund due diligence and portfolio analysis for high-net-worth investors.
Full biography here.
Marina Shtyrkov
Associate Director
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Marina Shtyrkov
Associate Director
Marina specializes in retail financial advisor trends across affiliation models. She is a member of the Intermediary practice, where she leads research for two annual reports. She also contributes to The Cerulli Edge series and generates quantitative analysis to support strategic consulting engagements.
Prior to joining Cerulli Associates, Marina was at Baystate Financial. In her role, she managed the pre-sales process for a financial planning practice, facilitated case design, and helped implement individualized client strategies.
Full biography here.
Strategic Consulting
Understand where to allocate resources to achieve your objectives. We can help you determine which initiatives are likely to be successful and those that may not achieve the desired effect. In an increasingly competitive market, our objectivity and experience can help you to advance your firm’s unique strengths.
You may also be interested in:
- Annual report
- The Cerulli Edge
