U.S. Registered Investment Advisors: Scale, Succession, and Growth
March 5, 2025
The registered investment advisor (RIA) space continues to evolve. Not only are headcount and assets growing, up 6% and 17% respectively, but distribution dynamics are changing with the expansion of RIA consolidators now controlling $1.5 trillion in AUM. In 2023, the number of advisors affiliated with these firms spiked to 14% as asset marketshare reached 18%.
Stephen Caruso shares Cerulli's perspective on the trends driving channel growth and transformation. During this 60-minute discussion, he covers the most important factors driving change, including succession planning and technology, as well as product and platform preferences and what they mean for asset managers and other third-party providers.
Presented by:
Stephen Caruso
Associate Director
Bio →
Stephen Caruso
Associate Director
As an Associate Director of Wealth Management, Stephen develops critical research on U.S. registered investment advisors (RIAs). His team is responsible for the collection, interpretation, and visualization of financial advisor data and defining emerging themes impacting the industry. He has issued groundbreaking coverage on the rise of merger and acquisition activity and related consolidation industry, the emergence of the RIA consolidator model, the role of private capital, financial advisor succession, and key practice management takeaways.
Stephen also leads Cerulli’s Advisor Research Collaborative (ARC), which consists of the development of strategic engagement activity to maintain and grow Cerulli’s proprietary network financial advisors.
Full biography here.
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