Powering Aggregation and Analytics Processes to Transform Performance Reporting

A Case Study of a Large US Financial Institution
by Isabella Fonseca, April 21, 2015
Case Studies
North America


Wealth management firms and advisors are looking for ways to improve client service to help improve client retention, increase their share of investable assets (wallet), and attract new customers and assets. Analytics combined with portfolio and investment data can help advisors and clients better understand past performance and plan for the future.

In the report Powering Aggregation and Analytics Processes to Transform Performance Reporting: A Case Study of a Large US Financial Institution, Celent presents a case study of a large US wealth management firm and its quest to improve the performance reporting provided to its advisors and individual investor clients. The firm had multiple objectives, including dramatically improving the quality and timeliness of the reporting process, data access, and data quality, while reducing costs. This case study presents the importance of real-time account data aggregation and performance analytics and how these tools can help to transform business processes in wealth management.

“Many firms are investing in upgrading their performance reporting systems to provide advisors and clients updated information on their investments and portfolios. Some firms are looking to reengineer their platforms and transform their reporting capability to include real-time and near real-time reporting as well,” says Isabella Fonseca, a research director with Celent’s Wealth Management practice and author of the report. “Firms looking to provide comprehensive reporting (including assets held away) need powerful data aggregation tools to help capture and gather the information and aggregate customer and transaction data from internal systems as well as a variety of third party firms such as custodians.”

Celent believes that financial services firms have “privileged access” to information and data about their customers. In this report, Celent discusses how the bank’s Global Institutional Consulting (GIC) partnered with Rage Frameworks to transform the data aggregation and performance reporting process to deliver timely reporting and more powerful analytics tools to their advisors and their clients. Advisors can use these tools for competitive advantage as they look to provide a higher level of service to retain clients and attract new clients and assets.

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

Executive Summary



Key Research Questions





Big Data Challenges (and Opportunities)



Big Data in Wealth Management


The Quest for Automated Performance Reporting






Catalysts for a New Performance Reporting Solution



Challenges of a New Performance Reporting Solution



Decision Process and Project Timeline



Rage Frameworks and the LiveWealth Platform



LiveWealth Functions Used by the Bank


Results and Lessons Learned






Lessons Learned


Looking Forward


Leveraging Celent’s Expertise



Support for Financial Institutions



Support for Vendors


Related Celent Research


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