Wealth Management
How We Help Wealth Managers Develop Scale

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Jared F. Baucom
Managing Director, Global Sales & Marketing
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Identify Profit Potential with Advanced Segmentation
According to our report, U.S. High-Net-Worth and Ultra-High-Net-Worth Markets, $84.4 trillion in wealth is expected to change hands from 2021 through 2045, the majority of which will come from Baby Boomer households. $72.6 trillion is expected to flow directly to heirs, while $11.9 trillion will go to charity.
As wealth transfers from one generation to the next, wealth managers that provide a more customized range of products and services will see greater walletshare among existing clients, increased potential for multi-generation client retention, and sustainable organic growth. Bespoke wealth management solutions, planning services for complex tax situations, business succession, and wealth transfer are prime examples of in-demand services from the high-net-worth client segment, among many others.
Segment your clients, determine profitability levers, and match clients with the right products and service levels. Cerulli works alongside our clients to develop customer segmented strategies--tailored to customers’ needs--and determine appropriate service model economics.
Wealth Manager
Subject Matter Experts

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.

Chayce Horton
Research Analyst
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Chayce Horton
Research Analyst
Chayce is a member of the Wealth Management team at Cerulli and contributes primarily to the U.S. Private Banks and Trust Companies and U.S. High-Net-Worth and Ultra-High-Net-Worth Markets annual reports. His analysis covers the wealth and asset management industries that serve high-net-worth (HNW) investors and families. Chayce also provides analyst support to strategic consulting projects in the wealth management space and contributes to The Cerulli Edge series.
Previously, Chayce has experience working in enterprise data governance, government affairs, and business banking at multiple global financial institutions.
Full biography here.

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.

Michael Rose
Director
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Michael Rose
Director
As director of the Wealth Management practice, Michael is responsible for researching trends within the wealth management industry that impact broker/dealers. In this capacity, he regularly engages with key constituents that comprise the wealth management ecosystem, including investors, financial advisors, financial institutions, and technology providers, in order to measure key market characteristics and to advise financial institutions. Michael also collaborates with his Cerulli colleagues in support of the firm’s broader research into the wealth management industry.
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.

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.

Scott Smith
Director
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Scott Smith
Director
With more than 20 years of financial services industry experience, Scott leads Cerulli’s research efforts focused on investor behavior and advisory relationships. In his time at Cerulli, he has authored more than two dozen in-depth reports on topics ranging from wholesale distribution to digital advice platforms. His research helps Cerulli’s clients understand how to optimize their platforms given the evolving demand for financial advice.
Scott started his career wearing a headset at Putnam Investments’ service center in 1996, before moving to more strategic roles at MFS Investment Management starting in 2000, and then to Cerulli in 2007. In addition, he currently serves as member of the CFP Board’s Digital Advice Working Group, and as a judge for the wealthmanagement.com Industry Awards.
Full biography here.
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