Deal Trends in the European Wealth Management Front Office Vendors Market
The European front office platform market is concentrated and competitive. In 2013 Celent profiled eight platform systems. Six of these eight, plus two new vendors, are profiled in Celent’s 2016 report European Wealth Management Technology Vendors: Evaluating Front Office Platform Vendors. This study uses the Celent ABCD Vendor View, which shows at a glance the relative position of vendors in the following categories: Advanced Technology, Breadth of Functionality, Customer Base (number of clients), and Depth of Client Services on two separate X/Y scales.
“Front office platform vendors support a range of capabilities in the advisory process, from acquisition to ongoing maintenance and retention, in a single workflow,” says Ashley Globerman, an analyst with Celent’s Wealth Management practice and author of the report. The data-gathering process provided insight into the front office platform market as well as data on deals in previous years for the regions.
The six vendors in both reports provided Celent with information about their platforms and sales for the reporting periods covered by the two reports: January 2011 to July 2013 (referenced in this report as 2011 to mid-2013) and January 2014 to June 2016 (referenced in this report as 2014 to 2016). In the later period, total new deals increased from 22 to 67.
Celent believes that the information on the RFIs from vendors provides an adequate basis for the analysis in this report. However, not all vendors of front office platforms completed RFIs for both reports; some vendors provided data for one report, but not both. And some vendors known to be active in the market did not complete RFIs. Lastly, this report contains various estimates and projections by Celent. Consequently the data must be interpreted with caution.