Benchmarking Advisor Technology Platforms and Tools

December 20, 2002


Boston, MA, USA December 20, 2002

Surveys of leading financial organizations and their advisors emphasize the growing importance of technology in attracting and retaining talented advisors.

In a new 30-page report, , Celent Communications provides advisor-based organizations with insight into the current state of advisor technology and tools. The report is based on a survey of leading insurance and brokerage firms in the industry. Categories benchmarked include: Web presence, software applications, technical infrastructure, training, support, level of integration, value-added services, and future initiatives. In addition, a companion survey of advisors sheds light on their current satisfaction levels with various aspects of the technology platform and tools being offered.

"As the financial services industry moves from a product-centric to a customer-centric view of the world, the financial advisor has become key to building and maintaining relationships with clients. Financial institutions are focusing attention on their advisors as never before, ensuring their field forces have the technology and tools necessary to be effective in the marketplace," says Pamela Brewster, Celent analyst and author of the report.

Celent estimates that spending on advisor technology platforms and tools will climb from US$300 million in 2002 to US$600 million by 2006 due to continued competitive pressures.

"Most of the technology enhancements for advisors has focused on web-based capabilities, such as advisor extranets and intranets, Web sites, and migration from PC- to Web-based software applications. However, the move towards providing robust advisor workstations to facilitate client-centric activities has yet to be fully achieved," says Brewster.

A is available online.

of Celent Communications' Life/Health Insurance, Property/Casualty Insurance, and Retail Securities and Investments research services can download the report electronically by clicking on the icon to the left.


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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].

Media Contacts

North America
Michele Pace
Tel: +1 212 345 1366

Europe (London)
Chris Williams
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
Tel.: +81 3 3500 3023

Table of Contents


Boston, MA, USA December 20, 2002

Return to report Abstract


  A Marked Industry Shift 5
  Spending on Advisor Technology 7
  Overview 8
  Overall Findings 9
  Web Presence 10
  Software Applications 11
  Application Integration 16
  Technical Infrastructure 17
  Training 18
  Support 19
  Other Services 22
  Future Initiatives 22
  General Terms 26
  Web Presence 26
  Software Applications 27
  Application Integration 28
  Technical Infrastructure 28
  Support 28

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