Entrance & Expansion

The U.S. Wealth Management Market

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Emerging Manager Series

Cerulli’s emerging manager series provides asset managers the insights they need to grow marketshare in the U.S. Covering the largest opportunities across institutional and retail channels, our perspectives will guide and bolster your strategic position. Get a closer look at the intelligence and experience we have to offer.

The Wealth Management Market

At over $26 trillion in assets under management, the U.S. wealth management market is the largest and most complex globally. Use this video to understand the types of distribution channels that exist.

Opportunities for Emerging Managers

Hear our perspective on which retail channel presents the strongest opportunity for expansion and why.

Channel Consolidation

One of the biggest trends impacting the independent channel is consolidation. Understand how this trend will impact asset managers seeking channel expansion.

The Family Office Channel

Servicing the needs of the high-net-worth (HNW) and ultra-high-net-worth (UHNW) investors, the importance of the family office channel to emerging managers cannot be overstated.

Servicing the Needs of Family Offices

Family offices often rely on a sophisticated due diligence process for asset managers and may not have the same liquidity requirements or regulatory constraints as other channels. Watch this video to learn how their investment needs differ.

Managing Market Volatility

Explore how family offices are changing allocations to mitigate market volatility and why family offices provide an opportunity for emerging asset managers.

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Strategic Consulting & Custom Research

Cerulli for Consulting

Are you looking for guidance on entering or expanding into the U.S. market? Contact us to learn more about how we can help you.

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Our team

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.

Marina Shtyrkov

Marina Shtyrkov

Associate Director

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Marina Shtyrkov

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.

Asher Cheses

Asher Cheses

Associate Director

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Asher Cheses

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.

Michael Rose

Michael Rose

Associate Director

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Michael Rose

Michael Rose

Associate Director

As associate 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.

Stephen Caruso

Stephen Caruso

Research Analyst

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Stephen Caruso

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.

You may also be interested in:

  • Annual report
  • The Cerulli Edge
  • Cerulli Lodestar

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