Cerulli research highlighted fragmented sales models and education gaps as firms adapt to growing appetite for illiquid strategies among high-net-worth individuals.
A May 2026 report published by Cerulli Associates, The Cerulli Edge - The Americas Asset and Wealth Management Edition, outlined the distribution challenges faced by traditional retail asset managers as they expand into alternative investments. Cerulli identifies advisor education as a critical constraint in distributing alternatives According to Cerulli, these firms are increasingly entering the alternatives market through acquisitions and product development but are encountering structural