Cerulli estimates that U.S. financial advisers own $1.4 trillion in less-than-fully-liquid alternative investment assets and projects, and they will boost this total to $2.5 trillion by year-end 2028. While alternatives providers estimate that just 13 percent of their assets under management (AUM) is sourced from the retail channel, they expect it to climb to 23 percent in the next three years, according to The Cerulli Report—U.S. Alternative Investments 2024.
To capitalize on this trillion-dollar opportunity, alternatives providers and asset managers are increasingly aligning through strategic partnerships. Though 53 percent of asset managers report they currently rely on such partnerships, half (50 percent) are planning