Advisor demand for tablets and tablet apps remains strong, as advisors look to leverage their larger screens and rich graphics in client meetings.

Advisors are purchasing tablets as companions to or replacements for PCs.In the report Apps for Advisors: 2013 Update, Celent examines some of the technical and business issues of advisor apps as well as apps available for advisors today from leading wealth managers. The study also examines what the next-generation functionality of advisor apps will be, and where wealth management firms should focus their attention.

An increasing number of advisors are using smart mobile devices and often want to use their personal devices, such as smartphones and tablets, for work. Many firms have developed Bring Your Own Device (BYOD) policies so their advisors can access corporate resources on personal devices.

“Advisors want to use smart devices and apps to improve their productivity and level of service, as well as reinforce their value to their clients,” says Bill Fearnley, Jr, Senior Analyst with Celent’s Securities & Investments Group and author of the report. “Many clients, especially high net worth individuals, already own smart devices and use them for entertainment as well as personal productivity. As a result, more customers expect their advisors to have access to mobile technology too.”

Celent believes that more firms, including banks, brokers, and wirehouses, will increase their focus on advisor apps, which will become more important to the relationship between firms and their advisors.

This 18-page report contains one figure and eight tables.