U.S. Intermediary Distribution 2022

Redefining Value in Distribution

Maximize Product Distribution Through Financial Advisors

  • Examine practice management, portfolio construction, and other “value-add” resources provided by asset managers to advisors
  • Understand the evolving structures for strategic partnership costs between asset managers and intermediaries
  • Explore changing client service models and post-meeting communications between wholesalers and advisors
  • Review comprehensive data on advisor portfolio construction practices and product use trends
  • Strengthen advisor and distributor relationships


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Us intermediary distribution detail

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Jeremy Fodaski

Jeremy Fodaski

Senior Account Manager


A sourcebook for asset managers seeking to maximize product distribution through intermediaries across all channels in the U.S., this annual report focuses on the distribution of investment products through financial advisors. This report includes 10 years of market sizing of advisor-controlled assets by channel, rankings of the industry’s largest distributors, and forward-looking projections of marketshare by channel.

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Each report is lead authored by a senior Cerulli analyst with significant industry experience. The report incorporates qualitative and quantitative inputs, based on Cerulli’s proprietary research process. For more on our research process, click here.


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A Note from the Author

Asset Managers Amplify Distribution Technology Efforts

Andrew Blake

Andrew Blake

Associate Director

Bio →

Andrew Blake

Andrew Blake

Associate Director

Andrew is a member of Cerulli’s Wealth Management practice, leading coverage of asset manager distribution strategy for products sold through financial advisors. With a focus on the wealth management landscape, Andrew assesses trends related to advisor use of investment products as well as their relationships with clients and varying practice types.

Prior to joining Cerulli Associates, Andrew worked at John Hancock Investment Management and a Boston-area RIA. He has spent over a decade working with financial advisors and researching distribution best practices.

Full biography here.

Advisors have become fully immersed in digital interactions throughout the pandemic and expect asset managers to be armed with more relevant data, in real time. In response, asset managers are ramping up distribution technology efforts to strengthen advisor interactions and generate an advantage over competitors.

Amid a cultural shift in the mediums through which business is conducted, asset managers have amplified spending for digital initiatives. Over the past year, 79% of firms increased their budget dedicated to distribution technology, and 11% of firms increased their budget by over 25%.

The new distribution landscape is one where technology stands to be the leading source of scale, advisor engagement, and employee recruitment. In some cases, distribution-related technology has become a better competitive advantage than product performance—an advisor who leans on a digital portfolio construction tool from an asset manager is more likely to develop a strong relationship with the wholesaler and implement one of their strategies.

Leverage the findings in our latest report to uncover how asset management distribution teams are re-envisioning their modern distribution strategy and how to get the best of human capital while maximizing areas like data management and demand generation. Access The Cerulli Report—U.S. Intermediary Distribution 2022: Redefining Value in Distribution.

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