Celent's Wealth Management Outlook: Enabling the Client-Led Enterprise

Our vision for the wealth management industry is: Deliver personalized financial solutions at scale to all customer segments while also elevating the client experience.

To do this, wealth managers must transition to a client-centric business model that focuses on client experience over product offerings. While this is not a new concept, few wealth managers have made the transition, as it often requires dismantling monolithic legacy infrastructures and developing more modular, scalable platforms that enable differentiated value propositions for all client segments.

So, in 2023, the question is no longer what initiatives wealth managers should prioritize, but how to best execute. What technologies will it take to materially evolve toward a client-led enterprise? Here, we present the five core technology building blocks needed to create a new generation of wealth managers.