Wealth Management IT Spending: A Global Perspective

by Arin Ray,  Alexander Camargo,  Isabella Fonseca, October 26, 2012
Industry Trends
Global

Abstract

Wealth management IT spending is estimated to reach US$4.4 billion in 2012 and is expected to grow at a rate of approximately 6.4% in 2013. Broadly speaking, both Asia-Pacific and North American markets are driving IT spending growth for next year, while the European market will drag down growth in spending.

In the report, Wealth Management IT Spending: A Global Perspective, Celent examines global wealth management IT spending in 2013 and beyond. This report examines key IT trends, regional priorities and trends, front vs. middle/back office spending, and internal vs. external spending by region for the wealth management industry. It is a companion to the Celent report IT Trends and Spending Implications for the Securities & Investments Industry, October 2012, which provides a basic summary of the material covered in this report.

“A majority of IT spending will go to the front office. Tools that will help the advisor capture client information and engage clients through more advanced and interactive tools will gain priority,” says Isabella Fonseca, Research Director with Celent’s Wealth Management Group and coauthor of the report. “Furthermore, wealth managers will allocate more of their IT resources to external software and services, as opposed to legacy internal systems and hardware.”

This report begins with a look at IT priorities by region and by front vs. middle/back office functionality. It then examines global wealth management IT spending and provides a market outlook up to 2016. This is followed by a regional exploration of wealth management spending, focusing on internal systems, hardware, external software, and external services in North America, Europe, and Asia-Pacific.

This 18-page report contains 7 figures and 2 tables.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America (Boston)
Tylor Tourville
ttourville@celent.com
Tel.: +1 617 424 3284

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)208 870 7875

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81.3.3500.3023

Table of Contents

Executive Summary

1

Current Snapshot

2

Regional IT Trends in Wealth Management

3

 

North America

3

 

Europe

4

 

Asia-Pacific

5

 

Summary

6

 

Implications for IT Spending

7

Wealth Management IT Spending

10

 

North American Spending

10

 

European Spending

12

 

Asia-Pacific Spending

13

Conclusion

15

Appendix

16

Leveraging Celent’s Expertise

17

 

Support for Financial Institutions

17

 

Support for Vendors

17

Related Celent Research

18

Sign in to download reports and access personalized information