Ranking the Vendors of Wealth Management Technology 2002: Data Consolidation

October 15, 2002

Abstract

"Everyone is finally realizing that without accurate data, providing proper wealth management services is not possible. As a result, we have seen a growing interest in data consolidation and achieving data integrity throughout the wealth management market," states Celent analyst, Sang Lee the lead-author of the report.

The vendors covered in this report include: Adhesion Technologies, Advent Software, Inc., ByAllAccounts, CashEdge, StatementOne, and Teknowledge.

A is available online. Additional reports in Celent痴 four-part series "Ranking the Vendors of Wealth Management Technology 2002," include financial planning & advice, client prospecting and sales vendors, and wealth management platform providers.

Boston, MA, USA Milan, Italy October 31, 2002

In the first of a four-part series on wealth management technology, Celent Communications evaluates the leading vendors in the data consolidation market.

Data aggregation, a technology that was once expected to provide a much needed service to self-directed investors with multiple online accounts, has evolved along with the entire retail financial services industry. Data aggregators now focus not only on end clients, but also on the relevant financial intermediaries -- financial advisors.

Unlike the mass retail market, however, those solutions targeting the wealth management market must go beyond simple screen scraping of data. Instead, they must endeavor to take the next logical step in data aggregation by applying data normalization and enrichment processes to ensure accuracy and timeliness.

Who are the leaders in the data consolidation vendor market? In the new 32-page report, ,

Celent Communications analyzes the solutions of 6 vendors and ranks them. The rankings are based on five criteria: usability, core functionality, quality of sources/data, market penetration, and track record. Top Vendors of Data Consolidation

Ranking Mass Affluent High Net Worth
1 Adhesion Technologies ByAllAccounts StatementOne
2 Advent

Source: Celent Communications

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

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 subsidiary 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

 

Boston, MA, USA Milan, Italy October 31, 2002

Ranking the Vendors of Wealth Management Technology 2002:  Data Consolidation

Return to report Abstract

 

EXECUTIVE SUMMARY 3
INTRODUCTION 4
  Criteria for Participation 4
  Vendor Segmentation 4
MARKET OVERVIEW 7
VENDOR PROFILES 10
  Adhesion Technologies 11
  Advent Software 14
  ByAllAccounts 16
  CashEdge 17
  StatementOne 19
  Teknowledge 20
VENDOR COMPARISONS 22
  Basic Technology and Implementation 22
  Client Comparison 23
  Sources and Methods of Consolidation 24
  Core Functionality Comparison 26
VENDOR RANKING 28
  Vendor Evaluation 28
  Ranking 29
LOOKING AHEAD 31

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