Coaching the Advisor: Predictive Analytics and NLG in Wealth Management

by Kelley Byrnes, October 3, 2016
Industry Trends
Global

Abstract

Celent has released a new report titled Coaching the Advisor: Predictive Analytics and NLG in Wealth Management. The report was written by Kelley Byrnes, analyst in Celent’s Wealth Management practice.

The report focuses on how predictive analytics and natural language generation (NLG) solutions can enhance advisor-client relationships, describes the attributes of competitive analytic solutions, and proposes best practices for the modern advisor.

The report looks at Narrative Science and Yseop, two of the companies currently selling an NLG solution to wealth managers. It also looks at IBM Customer Insight, which is bringing Watson technology to the wealth management industry.

”While predictive analytics and NLG products can give advisors talking points and recommendations for their clients, these tools are best used in conjunction with authentic communication,” comments Byrnes.

“I expect that NLG and predictive analytic providers currently servicing financial industries in areas outside of wealth management will find wealth managers ready for solutions in the next year. In particular, these solutions are a perfect fit for wealth managers servicing mass market, mass affluent, and high net worth clients,” she adds.

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
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

2

Introduction

3

Analytics and Natural Language Generation

4

 

Customer Analytics Overview

4

 

Predictive Analytics

5

 

Natural Language Generation

7

 

Attributes of Competitive Predictive and NLG Solutions

9

 

Authentic Communication

11

Conclusion

13

Leveraging Celent’s Expertise

14

 

Support for Financial Institutions

14

 

Support for Vendors

14

Related Celent Research

15

Sign in to download reports and access personalized information