Private Equity

What Business Models Are Most Attractive to Advisors Near Retirement?  

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Jared F. Baucom

Jared F. Baucom

Managing Director, Global Sales & Marketing

Advisor Succession Looms Large

Among RIAs retiring in the next decade, 26% are unsure of their succession plan. Although experienced, tenured advisors contribute valuable expertise, the dearth of adequate replacements to assume leadership when these principals and owners ultimately retire threatens firms’ legacies.

Advisor Age, 2015 vs 2019

Source: Cerulli Associates, Meridian IQ, Investment Company Institute, Insured Retirement Institute, VARDS, Strategic Insight/SIMFUND, Investment News, Judy Diamond, Department of Labor, PLANSPONSOR, S&P Capital IQ MMD, Financial Planning, Financial Advisor Magazine, Investment Advisor Magazine, and Cerulli Associates, in partnership with the Investments & Wealth Institute, WealthManagement.com, and the Financial Planning Association® (FPA®

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

Bing Waldert

Managing Director, U.S. Research

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Bing Waldert

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

Donnie Ethier

Senior Director

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Donnie Ethier

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 U.S. Advisor Edge.

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

Asher Cheses

Senior Analyst

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Asher Cheses

Asher Cheses

Senior Analyst

Asher is a member of Cerulli’s Wealth Management practice, specializing in high-net-worth trends across advisory channels. In his role, Asher is responsible for leading the research and development of two annual reports, focusing on trends that impact high-end advisory practices and high-net-worth investors. Asher also leads and supports various strategic consulting engagements, focusing on private banks and multi-family offices.

Prior to joining Cerulli Associates, 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

Marina Shtyrkov

Senior Analyst

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Marina Shtyrkov

Marina Shtyrkov

Senior Analyst

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.

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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.


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