U.S. RIA Marketplace 2023

Resiliency in the Pursuit of Scale

Navigate the U.S. RIA Market

  • Explore a complete sizing of the U.S. retail-focused registered investment advisor (RIA) marketplace
  • Understand the impact and implications of advisor movement into RIA channels
  • Gain insight into RIAs’ portfolio construction processes and product use metrics
  • Gain insight into the competitive dynamics among established and emerging RIA custodians, advisor interest in expanding custodial options, and drivers of growth in the clearing/custody space
  • Evaluate the Office of Supervisory Jurisdiction (OSJ) as an independence opportunity for advisors


Discounts available for bulk purchase

US RIA Marketplace 2020 Report Detail

Buy Now

Jeremy Fodaski

Jeremy Fodaski

Senior Account Manager


Analyze the many dimensions of the retail-focused RIA marketplace with 10+ years of market sizing of the independent RIA and hybrid RIA channels. Uncover factors that have led to the channels’ high growth and understand the needs, challenges, and opportunities facing RIAs in today’s environment. The report also covers key topics for RIA sales distribution, including product use, portfolio construction, and allocation changes.

Included with Purchase



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.

Executive summary

Executive Summaries

Get the most important report findings distilled in an easy-to-understand and highly visual format before you begin your journey through the report or use it as a tool for senior leadership.

Interactive report dashboard

Interactive Report Dashboards

Access consolidated data from multiple report exhibits in a single comparative view. Flexibly build your view of data with customizable filters and share the results in a format that meets your requirements.

Analyst support

Analyst Support

Got a question? Our analysts are available to help you interpret and analyze key findings as well as provide their perspective on industry trends.


Data Behind This Report

Data is the foundation of our reports. Each study contains nearly 100 exhibits, available to buyers in Excel format. Extract and explore Cerulli’s data and analysis your way.


Digital Access

Access your reports digitally anytime, anywhere, on any device through our client portal.

A Note From the Author

RIAs Leverage Specialized Staff to Achieve Scale

Stephen Caruso

Stephen Caruso

Senior Analyst

Bio →

Stephen Caruso

Stephen Caruso

Senior Analyst

Stephen is a senior analyst in the Wealth Management practice where he leads research into the registered investment advisor (RIA) channels. As part of his research, he is the author of Cerulli’s U.S. RIA Marketplace report and has written on topics including private equity investment in RIAs and the role staff play in RIAs’ pursuit of scale.

Full biography here.

As registered investment advisors (RIAs) look to achieve scale, broadening operational capacity is a key factor to improve their potential for success. Our latest research finds RIAs are considering hiring or creating new specialized staffing roles (i.e., marketing professionals, financial planners, investment analysts) to support the demand for new services and accelerate growth.

On average, RIAs with specialized staff offer two more services than RIAs that do not. Many of the service offerings that RIAs can offer through specialized staff focus on concepts of advanced financial planning and investments, two areas that can become time- and resource-intensive. Introducing specialized staff to the equation reduces the time spent in these two areas by a modest four percentage points.

Our report, U.S. RIA Marketplace 2023, addresses this and more, including a complete market sizing, detailed practice attributes, growth opportunities, and asset manager distribution strategies.


Want More Information?

Learn more about this report and related Cerulli research.

Contact Us

You May Also be Interested in:

  • Annual report
  • The Cerulli Edge
Consulting Page module Rocket 120820

Strategic Consulting & Custom Research

Cerulli Consulting

Understand where to allocate resources to achieve your objectives. We can help you determine which initiatives are likely to be successful and those that may not achieve the desired effect. In an increasingly competitive market, our objectivity and experience can help you to advance your firm’s unique strengths.

Learn More

We use cookies to improve your site experience, distinguish you from other users and support the marketing of our services. These cookies may store your personal information. By continuing to use our website, you agree to the storing of cookies on your device. For more information, please visit our Privacy Notice.