The Model Wealth Manager awards recognize best practices of technology usage in different areas critical to success in wealth management and is the main award that a financial firm in the industry can receive from Celent. For 2023, we will be accepting nominations in six categories outlined below. These categories align with our research agenda. We announced our Model Wealth Manager winners at our flagship Innovation & Insight event.
Nominations for our 2023 program open June 27, 2022, and close October 14, 2022.
Technology tools to reach new markets and client segments
Technologies that enable the democratization of wealth management continue to emerge across the industry. Wealth-as-a-Service platforms, digital tools and mobile applications are examples of technologies used to deliver financial solutions to underinvested communities and new markets such as gig workers. This is a growing area of interest to wealth management firms looking for new sources of revenue.
Wealth management firms are looking to personalize the client journey. This category includes innovative technologies that are used to deliver more meaningful advisor/client engagement, communications, and portfolio solutions.
Streamlining Advisor Workflows
Digitizing and streamlining operations across the advisor workflow continues to be an area of focus for financial institutions. Innovative point solutions, front, middle and back-office technologies that improve advisor efficiency and productivity are essential to the creation of best-in-class platforms.
This theme includes technologies that deliver more holistic solutions to clients. Retail clients are demanding that wealth managers seamlessly integrate non-traditional products and services, such as alternative investments, insurance, and lending into comprehensive solutions. Technologies and tools that enable these solutions are increasingly leveraged by financial institutions.
Data and Analytics
Data is a differentiator for wealth managers. This theme recognizes the use of data in driving competitive advantage. Some examples include using data management tools and technologies to deliver:
Essential and Emerging Technologies
This category looks at new technologies that are just beginning to emerge within wealth management. The Metaverse is a good example of a technology that financial institutions are exploring.
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