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Articles tagged "Cerulli Associates"


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Stephen Caruso: RIAs that have turnover can find themselves disrupted.

Plague of failed hires at strapped RIA firms 'come back to bite them,' making the process of closing bandwidth deficits falter, two new studies show

Turnover rates hover near 50%, Cerulli and Ensemble report, and may be worsening as hires in market of talent scarcity has inevitable backlash.

February 28, 2024 at 3:36 AM

Stephen Caruso: RIAs can encourage advisors to embrace a more decentralized approach.

The classic RIA era is sputtering and firms must 'decentralize,' hiring non-advisors to specialize, new Cerulli report shows, or RIAs will 'limp along,' a second consultant says

RIA principals have killed Wall Street with semi-solo shops -- only 35% have 'specialized staff' -- but the comfort zone must evolve for growth

January 13, 2024 at 2:24 AM

Andrew Blake: The past year was a big year.

RIAs remain wirehouse kryptonite in 2024, and by 2027, JP Morgan, Merrill, Wells and UBS will see market share tailspin -- RIAs the obvious culprits, Cerulli data shows

'RIAs' will control nearly one-third of advised assets by 2027, up from 27% today, virtually switching spots with wirehouses in a statistically zero-sum battle for market dominance, Cerulli projects.

January 3, 2024 at 1:21 AM

Scott Smith: In reality, with so many online options people just don’t even know where to start.

New Cerulli study shows 'absolutely surprising' finding: Human advisors have drubbed the self-directed investing sector despite radical advances in DIY tools

The Cerulli findings have a caveat for humans -- that just-in-time advice to investors whose assets grow to $500,000 may be too late to win the account

December 1, 2023 at 2:15 AM

Chip Roame: Within the RIA community, the large RIAs are taking marketshare … large RIAs will dominate.

McKinsey & Co. weighs in on the future of RIAs -- where it has 'zero business' -- and comes up with the same boilerplate prediction about the demise of mom-and-pop shops

The $10-billion revenue colossus pooh-poos $7 trillion of 'mom-and-pop' RIA assets after they take in 22% of all investable assets last year, from 16% base, according to McKinsey's own numbers.

June 7, 2023 at 1:36 AM

Tony Mazzali: Schwab expected his clients to pay fees they hadn’t paid "in 20 years?"

A $3 billion TD Ameritrade RIA pulls assets out of Schwab --after it cut services for TDA RIAs, and got sticker shock -- ahead of merger date

Anthony "Tony" J. Mazzali, CEO of CG Advisory Services, is shifting the bulk of its assets to LPL Financial to curb the assymetric power in his custody relationship with Schwab.

May 2, 2023 at 3:26 AM

Naj Srinivas: Once you think it is possible some of it is probable.

With IRA inflows as tailwind, RIAs are taking over U.S. pension assets by the trillions as second act to 35 years of ransacking wirehouse talent and booty

Rollovers to individual retirement accounts hit a net $444 billion in 2021, Cerulli reports; advisors got 63% and the 401(k) cow is only going to get more productive.

February 9, 2023 at 5:23 AM

Matthew Belnap: I would never want to call advisors 'lazy' but I do think there’s a strong element of inertia here, and wanting to keep doing things the way they’ve always done it.

RIAs are just not that into ESG investing -- at their peril, a new study says. That makes a leap: This is the one case where the customers -- both RIAs and their clients -- are wrong.

Cerulli is the latest to question RIAs for 'not fully understanding' ESG as an emerging megatrend, which could lead to a potential disconnect with Next Gen investors.

May 18, 2021 at 1:12 AM

Laura Levesque: Fee pressures are considerable but defined contribution plans may pick up the slack.

The super-TAMP 'OCIO' category suddenly, finally looks mortal in 2019, says Cerulli report, but modest reinvention and price cuts could give it a new run

The outsourced chief investment officer industry exploded to almost $2 trillion globally and $1.4 trillion in the US, by striking a balance between TAMPs and consultants that propelled 20% growth without much fee pressure, the Boston consultant shows.

December 23, 2019 at 6:22 PM

Frank Wilkinson: If you're a consulting client and paying less in fees, how are you not concerned that the OCIO clients who are [spending] more are getting preferential treatment?

Oisin's Bits: Vanguard aborts banking effort, because it was more fixated on beating BoA than being itself, an analyst says; SEI is killing it in the Mercer/Russell realm by competing with a retrofitted TAMP-thingy

The $5.3-billion Malvern, Pa. monster finds its investors want it to stick to investing, not checking accounts and the Oaks, Pa. TAMP leader gets upmarket with no-conflict pitch and product fit and

March 22, 2019 at 11:22 PM

Andy Kalbaugh: We recently complied with a regulatory inquiry from the SEC to produce mutual fund holdings over the last five years for RIAs that transact business on our custodial platforms.

LPL issues urgent warning to RIAs: The SEC wolf blew down its home-office door and is combing through records for evidence of mutual fund share class misuse

Andy Kalbaugh emailed a letter to LPL advisors that file their own ADVs as a sort of fair-warning heads up

July 25, 2018 at 10:37 PM

Ben Harrison: This is a very conservative number. If we were to continue with hybrid the number would be considerably higher.

The old trick of new math Pershing used to make its RIA assets in custody soar from $200 billion to $615 billion in one year

Citing 'evolution,' the other Jersey City, N.J.-based custodian redefined 'RIA' to leapfrog itself over TD Ameritrade and into the rear view of Fidelity

June 12, 2018 at 5:01 PM

David Poole: We’ve got clients who engage with us across Merrill Lynch and in Merrill Edge self-directed accounts. That’s one of our fastest growing segments where clients are using both.

Merrill Edge eases Bank of America's transition to a post-wirehouse world

The Charlotte super bank's plan to add 600 branches builds on success but recruiters say lingering tension between Merrill and Merrill Edge advisors is more of a factor than the bank admits

April 3, 2018 at 8:32 PM

Abby Johnson is meeting high expectations, reporting solid growth for 2017 with positive investment flows for the asset management division.

Fidelity Investments makes unlikely turnaround as active equity manager but is it taking on too much risk?

With Abby Johnson in charge, Fidelity is swinging for more fences, beating peers, continuing to see asset outflows and thinking long-term

March 20, 2018 at 9:34 PM

Tom McGirr: If the market goes down 300 points and we get flooded with calls, we can have an in-depth discussion about risk tolerance.

Fidelity's bet on ultra-compliance with the DOL rule pays off big as 401(k) assets jump stunning $280 billion in 2017

The Boston giant also added staggering 1.6 million plan participants but here comes DOL rule's BICE and the need to come extra clean on all those in-house funds

March 16, 2018 at 5:41 PM

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