The Wealth Management Technology Landscape 2005

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5 August 2005


Boston, MA, USA Milan, Italy August 5, 2005

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, , 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痴 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.

of Celent's Retail Banking, Retail Securities & Investments and Life/Health Insurance research services can download the report electronically by clicking on the icon to the left. Non-members should contact for more information.

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