Celent has released a new report titled Coaching the Advisor: Predictive Analytics and NLG in Wealth Management. The report was written by Kelley Byrnes, analyst in Celent’s Wealth Management practice.
The report focuses on how predictive analytics and natural language generation (NLG) solutions can enhance advisor-client relationships, describes the attributes of competitive analytic solutions, and proposes best practices for the modern advisor.
The report looks at Narrative Science and Yseop, two of the companies currently selling an NLG solution to wealth managers. It also looks at IBM Customer Insight, which is bringing Watson technology to the wealth management industry.
”While predictive analytics and NLG products can give advisors talking points and recommendations for their clients, these tools are best used in conjunction with authentic communication,” comments Byrnes.
“I expect that NLG and predictive analytic providers currently servicing financial industries in areas outside of wealth management will find wealth managers ready for solutions in the next year. In particular, these solutions are a perfect fit for wealth managers servicing mass market, mass affluent, and high net worth clients,” she adds.
