The State of U.S. Retail and Institutional Asset Management 2022
The Growing Importance of Retail Client Channels
The Entire U.S. Asset Management Landscape, All in One Report
- Review comprehensive market sizing and major trends evolving within the retail and institutional asset management industry
- Evaluate how asset managers need to be positioning various business functions (e.g., distribution, product) to take advantage of industry disruption resulting from COVID-19
- Review how assets in retail and institutional client channels are shifting and which segments can be expected to grow more than others moving forward
- Learn how investor appetite for various investment vehicle wrappers is changing and how asset managers need to offer their strategies to different client segments
- Understand the role that intermediaries (e.g., broker/dealer home offices, consultants) have in the distribution landscape and how that role is evolving
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This report provides a comprehensive overview of the aggregate U.S. asset management landscape. Intended for U.S. asset managers, or those seeking distribution opportunities in the U.S., this report provides a quantitative evaluation that sizes the current addressable U.S. asset management landscape, covering all distribution channels, client segments, and product vehicles within the retail and institutional marketplaces—with emphasis on the interaction between these two segments.
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A Note from the Author
Retail Client Channel Assets Inch Closer to Surpassing Institutional Client Channel Assets
Brendan Powers, CFA
Brendan is a member of Cerulli’s Product Development practice, which focuses on trends related to asset managers’ product development and management functions. This broadly includes assessing the opportunity for product development, evaluating emerging product trends, and understanding distribution and product positioning for investment products across retail and institutional channels.
Prior to joining Cerulli, Brendan worked as a Senior Client Associate at Eaton Vance Management, focusing primarily on the firm’s exchange funds.
Full biography here.
Professionally managed assets in the U.S. stand at $68.9 trillion as lines between assets in retail and institutional channels blur. Retail client channel assets recorded 17.5% asset growth in 2021, inching closer to surpassing institutional client channel assets, which are holding on to a $100 billion lead.
Industry dynamics are working in favor of the retail channel. Defined contribution (DC) plan assets are rolling over into individual retirement accounts (IRAs) as the Baby Boomer generation continues to retire, defined benefit (DB) plans are freezing and terminating, and insurance general accounts have exhibited slower growth due to heavy allocations toward fixed income. What this means is that the retail channels could offer greater opportunities for managers in the future—they can’t be ignored.
Learn more in our report, The State of U.S. Retail and Institutional Asset Management 2022: The Growing Importance of Retail Client Channels. As a business planning tool, it is intended for U.S. asset managers, or those seeking distribution opportunities in the U.S. The research offers in-depth sizing of the current addressable market in the U.S., covering all distribution channels, client segments, and product vehicles within the retail and institutional marketplaces—with emphasis on the interaction between these two segments.
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