U.S. Advisor
Connect with U.S. Financial Advisors
- Analyze the trends impacting financial advisors and product providers
- Understand advisor behavior, client acquisition strategies, and considerations for portfolio construction
- Evaluate advisor affiliation and the reasons for movement across channels
- Assess the impacts of fee compression and strategies advisors are using to uphold their value proposition
$10,250
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Jeremy Fodaski
Account Manager
- Boston HQ +1 617.437.0084
- Singapore +65 6994 1022
- London +44 20 7645 9040
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Explore this Publication
Analyze proprietary data from annual surveys of more than 8,000 advisors across the wirehouse, bank, independent, regional, insurance, and registered investment advisor (RIA) channels. This quarterly publication helps providers and managers understand key trends at play in this important distribution channel and inform their approach to engagement.
Quarterly
Latest Issues

Q2 2023 — The Advisor Practice Improvements Issue
Featuring:
- Resources from Asset Managers
- Managing the Number of Client Relationships
- The Benefits of Incorporating SMAs

Q1 2023 — Trends for 2023 Issue
Featuring:
- Shifting Product Allocations
- Householding: The Next Progression of Aggregation
- SEC Aims to Establish Guidelines for the Future of Advisor Outsourcing

Q4 2022 — The Modern Investor Issue
Featuring:
- Firms Embrace Digital Upgrades
- Portfolio Customization: From Differentiator to Table Stakes
- The Case for Model Portfolio Use by Advisors

Q3 2022 — Market Volatility Issue
Featuring:
- The Value in Volatility
- More Advice, but Standing Pat
- Effective Communication Key to Client Retention
- Incorporating Financial Planning into Service Delivery

Q2 2022 — Demographics Issue
Featuring:
- Projecting Wealth Transfer from 2021 through 2045
- Addressing Generation X Investors
- Managing Generational Wealth Transfer

Q1 2022 — Trends for 2022 Issue
Featuring:
- Focus on Channels, Digitization, and Assets per Client Served
- Independent, Direct Distribution Channels Poised to Build on Gains
- Asset Managers Accelerate Digital Transformation
- The Confluence of Client Size and Advisor Service Delivery
GAIN ACCESS
U. S. Advisor Edition
The Cerulli Edge is the best way to stay up to speed on what’s happening across the global asset and wealth management industry.
Buy Now

Jeremy Fodaski
Account Manager
- Boston HQ +1 617.437.0084
- Singapore +65 6994 1022
- London +44 20 7645 9040
Our Experts
Meet the Team
Their knowledge of the wealth management industry goes unrivaled. Through years of scouring and interpreting data, defining trends, and projecting growth, they paint a complete picture of the industry.

Matt Belnap
Associate Director
Bio →

Matt Belnap
Associate Director
As an associate director, Matt plays a critical role in developing research across the retail financial services spectrum, including wealth management, managed accounts, and product development. Matt contributes to nine Cerulli reports across three research practices and manages The Cerulli Edge—U.S. Advisor quarterly publication.
Matt began his career in financial services at Eaton Vance investment management, serving in a variety of roles, ranging from shareholder services, to institutional marketing, and in competitive analysis seeking strategic distribution opportunities.
Full biography here.

Stephen Caruso
Research Analyst
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Stephen Caruso
Research Analyst
Stephen is a research analyst in the Wealth Management practice where he provides quantitative support to two annual reports. He also contributes to the advisor data collection process and to The Cerulli Edge series. Prior to joining Cerulli Associates, Stephen worked at Banyan Tree Capital, where he managed client servicing operations.
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.

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.

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.

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
Bio →

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.
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