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13 February 2018


WAM 2020
One of the major developments in the last few years has been the digital transformation of wealth management as well as the transformation of legacy asset management architectures. In previous roundtables, we have defined this evolution to a digital future as WAM 2020. Along this theme, we are pleased to have kicked off the New Year by bringing you fresh insights on important wealth management and asset management technology trends which are leading us to this new future.

Digital Transformation
In recent research, Will Trout demonstrated how technology platforms allow wealth managers to jumpstart their digital advice capabilities and empower busy advisors in the report Battle for the Bank: How Digital Investment Tech Is Reshaping Wealth Management.

In addition, Will reviewed the financial planning vendor landscape in the Canadian market, where he is seeing more digital engagement, with technology allowing for an engaged and iterative planning process with clients The Financial Planning Technology Vendor Landscape in Canada.

At the same time, Ashley Globerman has highlighted how digital has become a force for disruption in the industry through the application of digital technology to the client experience Designing the Digital Wealth Management Client Experience: Emerging Technologies and Client Expectations. Please join her upcoming client-only webinar on this topic on February 20: Celent Webinar| Designing the Digital Wealth Management Client Experience

The API Economy in Wealth Management
Furthermore, Kelley Byrnes is seeing an increase in open APIs and API-powered platforms in wealth management. Her report, The Wealth Management API Economy: B2B Platforms and APIs to Extend Reach focused on API monetization schemes available to wealth managers and fintech firms. Her webinar for this report is available on demand.

Legacy Transformation of the Buy Side
Jay Wolstenholme notes that asset management firms and fund administrators have portfolio management/accounting systems with legacy code that are too complex to rip and replace. In order to meet increasing demands, firms are leveraging open APIs and cloud offerings for cost-efficiency. (Cementing the Core: Asset Managers Using a Modified SOA Approach.)

At the same time, according to Cubillas Ding, buy side risk management is evolving rapidly, with further embracing of next-generation digital technologies (Buy Side Investment Risk Management Part 1: A Survey of Business Priorities, Risk Hotspots, and Operational Alpha Opportunities.)

We look forward to engaging with you in our upcoming travel to cities across the US, Asia, and Europe, as well as through our webinars and roundtables.

David Easthope
Senior Vice President