U.S. Wealth Management

Cerulli knows the U.S. wealth management market. With four distinct areas of coverage, we provide top-down and bottom-up insights into the multi-faceted corners of the industry.

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Practice Detail

A practice that began in 1992 has evolved to become the industry’s most comprehensive and reliable advisor survey data collection—capturing over 1,200 financial advisor survey responses annually. We’ve captured it all—nascent trends and disruptive innovation. We’ve helped a lot of clients, offering tailored guidance—based on our distinct market knowledge and history—to strengthen and scale business models through industry changes.

Publications

  • Annual report
  • The Cerulli Edge

Our Experts

Meet the Team

Their knowledge of the wealth management industry goes unrivaled. Through years of scouring and interpreting data, defining trends, and projecting growth, they paint a complete picture of the industry.

Molly Bergin

Molly Bergin

Senior Survey Analyst

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Molly Bergin

Molly Bergin

Senior Survey Analyst

As a survey analyst, Molly supports all the U.S. research practices’ core survey needs. She assists in survey creation, data collection, and analysis for the Boston office. In addition to her work in the Wealth Management practice, Molly is also responsible for supporting survey processes related to consulting projects and carrying out daily interactions with research participants.

Prior to joining Cerulli, Molly was a Research Consultant at Cornell University. Her research focused on the education sector, where she studied the use of university resources to meet the needs of rural schools across New York State.

Full biography here.

Andrew Blake

Andrew Blake

Associate Director

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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.

Stephen Caruso

Stephen Caruso

Senior Analyst

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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.

Asher Cheses

Asher Cheses

Director

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Asher Cheses

Asher Cheses

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.

Chayce Horton

Chayce Horton

Senior Analyst

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Chayce Horton

Chayce Horton

Senior Analyst

Chayce is a member of the Wealth Management team at Cerulli and contributes primarily to the U.S. Private Banks and Trust Companies and U.S. High-Net-Worth and Ultra-High-Net-Worth Markets annual reports. His analysis covers the wealth and asset management industries that serve high-net-worth (HNW) investors and families. Chayce also provides analyst support to strategic consulting projects in the wealth management space and contributes to The Cerulli Edge series.

Previously, Chayce has experience working in enterprise data governance, government affairs, and business banking at multiple global financial institutions.

Full biography here.

Colin Kennedy

Colin Kennedy

Analyst

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Colin Kennedy

Colin Kennedy

Analyst

As an analyst on the Wealth Management team, Colin supports research across a range of topics, including retail financial advisor trends, asset management distribution strategies, and high-net-worth (HNW) investors. He collaborates with research analysts on the Wealth Management team to provide quantitative support, data analysis, and written commentary for Cerulli annual reports.

Full biography here.

Andrew Larsen

Andrew Larsen

Analyst

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Andrew Larsen

Andrew Larsen

Analyst

Andrew is an analyst on the Wealth Management team, providing quantitative analysis for the U.S. Advisor Metrics and U.S. RIA Marketplace annual reports. He primarily supports Cerulli's financial advisor research and data collection processes. He also contributes to The Cerulli Edge series, as well as various consulting engagements related to the financial advisor marketplace.

Full biography here.

Michael Manning

Michael Manning

Analyst

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Michael Manning

Michael Manning

Analyst

Michael is an analyst in the Wealth Management practice at Cerulli, specifically working in Managed Accounts. He is a contributor to the U.S. Managed Accounts annual report and The Cerulli Edge series, providing quantitative and qualitative analyses. He also supports various consulting projects within the Wealth Management practice.

Prior to joining Cerulli Associates, Michael started his career as a financial analyst at Granite Telecommunications where he created quote proposals and developed special pricing analyses in response to customer needs.

Full biography here.

John McKenna

John McKenna

Research Analyst

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John McKenna

John McKenna

Research Analyst

John specializes in investor trends and behaviors across different provider and advisory relationships. He contributes to The Cerulli Edge—U.S. Retail Investor Edition series and two annual reports, as well as providing quantitative and qualitative analyses for multiple practices and consulting engagements.

Prior to joining Cerulli Associates, John was an assistant at Harvard Kennedy School of Government, researching philanthropic habits among ultra-high-net-worth Chinese and American benefactors.

Full biography here.

Michael Rose, MST

Michael Rose, MST

Director

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Michael Rose, MST

Michael Rose, MST

Director

Michael is a director within Cerulli’s Wealth Management practice, where he researches key elements of the wealth management industry, with an emphasis on broker/dealers and wealth management technology. In this capacity, he regularly engages with constituents across the wealth management ecosystem, including retail investors, financial advisors, and executives within wealth management, asset management, and technology firms, in order to support Cerulli’s market research initiatives.

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.

Noah Serianni

Noah Serianni

Analyst

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Noah Serianni

Noah Serianni

Analyst

Noah is an analyst on the Wealth Management team, where he supports research on distribution strategies for retail asset management products sold through financial advisors, advisor product use, and portfolio construction trends. He also assists on custom consulting projects within the Wealth Management practice.

Prior to his role as an analyst, Noah worked as a Senior Survey Analyst at Cerulli, where he supported all the U.S. research practices’ core survey needs.

Full biography here.

Scott Smith

Scott Smith

Director

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Scott Smith

Scott Smith

Director

With more than 20 years of financial services industry experience, Scott leads Cerulli’s research efforts focused on investor behavior and advisory relationships. In his time at Cerulli, he has authored more than two dozen in-depth reports on topics ranging from wholesale distribution to digital advice platforms. His research helps Cerulli’s clients understand how to optimize their platforms given the evolving demand for financial advice.

Scott started his career wearing a headset at Putnam Investments’ service center in 1996, before moving to more strategic roles at MFS Investment Management starting in 2000, and then to Cerulli in 2007. In addition, he currently serves as member of the CFP Board’s Digital Advice Working Group, and as a judge for the wealthmanagement.com Industry Awards.

Full biography here.

Matt Zampariolo

Matt Zampariolo

Research Analyst

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Matt Zampariolo

Matt Zampariolo

Research Analyst

Matt is a member of Cerulli’s Wealth Management practice, specializing in research across the high-net-worth and ultra-high-net-worth investor markets, including private banks, trust companies, RIAs, and multi-family offices. As an analyst, Matt provides support to the firm’s high-net-worth research team, assisting in the production of two annual reports and a variety of strategic consulting projects.

Prior to joining Cerulli, Matt worked as a financial analyst within Goldman Sachs’ multi-family office, based in Saratoga Springs. He graduated from the University at Albany with a degree in Economics.

Full biography here.

Advisor Research Collaborative

Are You a Financial Advisor?

Cerulli’s Advisor Research Collaborative (ARC) is the largest financial advisor research network in the U.S. For over 30 years, it has served as the foundation for Cerulli’s strategic intelligence on the U.S. wealth management marketplace. More than 1,500 financial advisors regularly participate in the Collaborative to benefit from shared insights and recommendations.

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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.

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