Apps for Advisors: 2013 Update

by Bill Fearnley, Jr, May 31, 2013
Industry Trends
North America


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.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

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Table of Contents

Executive Summary





Advisor Uptake and Demographics



Trends in Advisor Apps



Our Methodology


Technology Overview



Smartphone and Tablet Growth



Catalysts for Demand


Advisor App Functionality



Advisor Apps from Leading Firms


Looking Forward: Functionality


Going Forward


Leveraging Celent’s Expertise



Support for Financial Institutions



Support for Vendors


Related Celent Research


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