European Wealth Management Technology Vendors: Evaluating Front Office Platform Vendors

by Ashley Globerman, June 24, 2016
Vendor Reviews
EMEA

Abstract

European wealth managers continue to operate in a challenging and dynamic environment driven by changing client expectations, heightened regulatory scrutiny, advancements in technology, and tightening margins. The front office vendors that support these wealth managers must continue to invest in forward-looking technology and solutions to stand out in a fragmented and competitive landscape.

This report, the first of three, examines the leading European vendors of front office platforms. The following vendors are included:

  • Atos
  • Charles River Development
  • Finantix
  • Intellect Design
  • Openfinance
  • Prometeia
  • TechRules
  • Temenos

“Differentiation among key functionalities, such as collaborative workspaces between advisors and clients, automation of onboarding and reporting processes, and robust financial planning components, as well as modular, flexible, scalable, and customizable offerings are more important than ever,” says Ashley Globerman, an analyst with Celent’s Wealth Management practice and author of the report. 

Front office platform providers support the advisory process, from acquisition to ongoing maintenance and retention, in a single workflow. These components include client relationship management, financial planning, portfolio management, and portfolio monitoring. Reporting straddles front office and back/middle office operations.

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.

Note: Intellect Design and Temenos are included in the comparison tables, but not in the ABCD analysis.

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

Introduction

5

Vendor Preview

9

Profiles

11

Atos: Apollo PWM (Private Wealth Management)

12

Charles River Development: Charles River Investment Management Solution

18

Finantix SARL: Finantix Wealth Components

25

Intellect Design Arena Limited: Intellect Wealth

31

Openfinance S.L.: Openworkplace

36

Prometeia: PFTPro Suite

42

TechRules S.A.: Tower

49

Temenos Group AG: WealthManager – part of WealthSuite

57

Vendor Comparison

62

Vendor Ranking

79

Looking Forward

82

Leveraging Celent’s Expertise

84

 

Support for Financial Institutions

84

 

Support for Vendors

84

Related Celent Research

85

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