U.S. Intermediary Distribution 2025
Leveraging Specialists to Strengthen Relationships
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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Summary
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.
A Note from the Author
The Rise of the Product Specialist Role for Asset Management Distribution
Andrew Blake
Associate Director
Bio →
Andrew Blake
Associate Director
Andrew is an Associate Director in the Wealth Management practice. He specializes in asset manager distribution strategies for products sold through financial advisors and is the author of The Cerulli Report—U.S. Intermediary Distribution. Before joining Cerulli Associates, he gained distribution experience at several firms, including Manulife John Hancock Investments. He also authored The Cerulli Report—U.S. Advisor Metrics, which explores trends in advisor practices, such as the use of investment products, client relationships, fees charged, and service offerings.
In his role, Andrew is also responsible for various strategic consulting engagements, focusing on key areas such as growth strategies, practice management, service expansion, M&A due diligence, product development, and distribution strategies.
Full biography here.
As the demand for detailed product insights increases, along with the use of alternative investments and shifting advisor investment preferences, the role of the product specialist has become a key differentiator for asset managers. Our research shows:
- 79% of Tier-I asset managers use advisor-facing product specialists
- Discussing competitive product information (40%), communicating complex investment topics (38%), and demonstrating a deep understanding of capital markets (31%) are among the most valuable skills a product specialist offers.
- With one in five firms citing a lack of internal expertise in alternative investments as a distribution challenge, asset managers must prioritize integrating dedicated product specialists into their teams.
- Firms that do not leverage the product specialist role to boost distribution efforts may be perceived as lagging in client service quality.
Our latest report, U.S. Intermediary Distribution 2025, will help you consider ways to rethink your distribution strategy with a granular breakdown of advisor segmentation, technology tools, and other opportunities to optimize your approach to advisor coverage.
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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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