Strategic Consulting for Alternative Providers
As your go-to resource for alternative investments, Cerulli has the network, data, perspective, and subject matter expertise you need to build and grow marketshare. With each stage of the investment lifecycle— capital deployment, product development and distribution, and management of portfolio companies, Cerulli’s unmatched strategic guidance can help you develop your approach.
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Product Development and Deployment
- Assess vehicle type and fee structure for target clients within wealth management
- Assess retail distribution opportunities across high-net-worth (HNW) and ultra-high-net-worth (UHNW) channels
- Understand advisor sentiment, demand, and bridge education gaps
Capital Deployment
- Conduct due diligence for acquisition targets in the asset management, wealth management, and fintech industries
- Evaluate secular trends driving industry consolidation and their impact on acquisition targets
- Size the market and critical demographic shifts underway shaping the advice value chain
Portfolio Company Management
- Evaluate opportunities for scale
- Expand or rationalize product, service, or distribution resources
- Optimize corporate structures and integrate affiliate businesses
Success Stories
Marketing Strategy
CLIENT
Leading private capital manager sought strategic assistance in entering and expanding into the U.S. wealth management market.
OUTCOME
Cerulli delivered a comprehensive marketing plan, including recommendations for content, target segments, target distribution channels, and communication mediums.
Due Diligence
CLIENT
Private equity firm turned to Cerulli to conduct due diligence before capital deployment on an alternative platform.
OUTCOME
Cerulli delivered outlook for retail alternative investment adoption and use of operational fintech platforms for investing and education. Client deployed capital to target company after strategic review.
Thought Leadership
CLIENT
Asset manager turned to Cerulli to develop original thought leadership on best practices for advisors utilizing alternative investments.
OUTCOME
Cerulli delivered original 16-page white paper on advisor adoption of illiquid alternative investments and awareness campaign promoting the white paper to media publications.
Subject Matter Experts
Matt Apkarian, CFA
Associate Director
Bio →
Matt Apkarian, CFA
Associate Director
Matt is a member of Cerulli’s Product Development practice, which focuses on trends related to asset managers’ product development and management functions. This broadly includes assessing the opportunity for product development, evaluating emerging product trends, and understanding distribution and product positioning for investment products across retirement, retail, and institutional channels.
Prior to joining Cerulli, Matt held roles in
several business units at Fidelity Investments, including Workplace Investing,
Personal Investing, and Fund Operations. Most recently, he worked as an
Investment Data Analyst for Strategic Advisers, LLC.
Full biography here.
Brendan Powers, CFA
Director
Bio →
Brendan Powers, CFA
Director
Brendan is a member of Cerulli’s Product Development practice, which focuses on trends related to asset managers’ product development and management functions. This broadly includes assessing the opportunity for product development, evaluating emerging product trends, and understanding distribution and product positioning for investment products across retail and institutional channels.
Prior to joining Cerulli, Brendan worked as a Senior Client Associate at Eaton Vance Management, focusing primarily on the firm’s exchange funds.
Full biography here.
Daniil Shapiro, CFA
Director
Bio →
Daniil Shapiro, CFA
Director
Daniil is part of Cerulli’s Product Development practice, where he works on the identification, analysis, and reporting of asset management industry trends with a focus on exchange-traded funds (ETFs) and alternative investments.
Prior to joining Cerulli Associates, Daniil was part of the Product Management and Business Intelligence teams with the MainStay Funds, part of New York Life Investment Management. At MainStay, Daniil supported sales efforts via fund and ETF competitive analysis, product research, and development of marketing materials, as well as performance reporting. Before New York Life, Daniil was part of the risk management practice at Accenture, and held risk and compliance roles at HSBC’s investment bank.
Full biography here.
Bing Waldert
Managing Director, U.S. Research, Cerulli Associates
Bio →
Bing Waldert
Managing Director, U.S. Research, Cerulli Associates
Bing Waldert leads Cerulli’s U.S. Research team comprising seven research practices that cover all elements of the U.S. asset management, wealth management, and retirement markets. He has authored Cerulli reports on the wealth management industry, high-net-worth market, the annuity industry, and retirement markets. He is a frequent board-level and C-suite speaker and well-regarded industry thought leader. He has spoken in front of the Investment Company Institute (ICI), the Asset Management Association of China (AMAC), the Investments and Wealth Institute (IWI), and the Money Management Institute (MMI).
He has worked on client projects on emerging manager expansion strategies, independent registered investment advisors (RIAs), multi-family offices (MFOs), investment platforms, and the outsourced chief investment officer (OCIO) industry. In addition, he has advised multiple private equity firms on acquisitions in the wealth management space.
Full biography here.
Research Publications
- Annual report
- The Cerulli Edge
Thought Leadership
May 2024
Educational Alpha Podcast
Daniil Shapiro, Director at Cerulli Associates, speaks with host, Bill Kelly, to explore significant trends shaping the asset and wealth management landscape.
October 2023
U.S. Alternative Investments: Defining Opportunities for Adoption
Explore the greatest opportunities for product development and distribution and gain practical knowledge into how managers can best position their lineup for greater retail adoption with the findings from this webinar.
September 2023
Adapting to Growing Private Markets: A Playbook for Practice Success
Advisors can use alternative investments to differentiate practices and attract, consolidate, and retain client assets.
February 2023
Fund Domicile Selection: Enabling Global Alternative Asset Growth
Explore the domicile selection process for U.S. private capital managers seeking expansion.
August 2022
A Deep Dive Into Alts Industry Research, With Daniil Shapiro
Financial markets have faced significant headwinds this year, some of which haven’t been seen by investors in several decades. But the alt industry has barely skipped a beat. In this podcast Daniil Shapiro discusses the details of why the current moment may be ideal for alternative investments to shine.
August 2020
The Democratization of U.S. Alternative Investments
As traditional asset managers, hedge funds, and private equity firms increasingly target retail channels for alternative assets, myriad factors come into play.
CUSTOM RESEARCH & STRATEGIC CONSULTING
Cerulli for 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.