Boston, MA, USA
Milan, Italy
August 5, 2005The Wealth Management
Technology Landscape 2005
Report Published by Celent
Celent expects global wealth management IT spending
to reach US$2.4 billion in 2005, representing an increase of 23% compared
to 2004. North America accounts for 42% of this spending.
In a new report, The Wealth Management
Technology Landscape 2005, Celent examines the current wealth
management market in North America, focusing on the latest market and
technology trends, major developments and solutions available. The study
discusses mass affluent vs. high-net worth strategies, challenges for
wealth management adoption and provides examples of wealth management
initiatives underway at banks.
Isabella
Fonseca, Celent analyst and
co-author of the report states, "As firms move away from a
transaction-focused revenue model to a diversified fee-based revenue
model, attracting the affluent will continue to be a priority for
financial institutions. Wealth management technology is still evolving and
we should expect a number of vendor related activities in the next period
to come."
The report provides a framework for critical
technology components required for a successful wealth management
strategy. The report examines 27 vendors active in North American
providing financial planning, portfolio construction/asset allocation,
data consolidation, and wealth management platforms.
According to Alois
Pirker, Celent analyst and co-author of the report, "Today’s
leading solutions follow two approaches: (1) delivering capabilities
across the entire framework to position themselves as the unique provider
of wealth management technology, or (2) providing one or several
components which are open for integration into larger platforms."
Financial institutions now cover a larger spectrum
of clients from mass affluent to ultra high-net worth and the vendor
market has shifted in the past 18 months-and will continue to evolve- to
address a more demanding and diverse clientele.
This report provides a framework for a series of
upcoming vendor studies in each of the identified solution categories.
This report is 35-pages long and contains 9
figures and 7 tables. A table of contents
is available online.
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