Ranking the Vendors of Wealth Management Technology 2002: Financial Planning & Advice

October 16, 2002

Abstract

"Features and functionality aside, we cannot stress enough the importance of product usability. No matter what a financial planning program痴 capabilities, if the advisors don稚 use it, then it痴 worthless. As such, we strongly recommend that advisors be brought into the evaluation process when judging different vendor solutions," states Celent analyst Pamela Brewster, the lead-author of the report.

The vendors covered in this report include: AssetPlanner (which was acquired by Accenture), BANQIT, Brainpower, EISI (Naviplan), DirectAdvice, eMoneyAdvisor, Financeware, Financial Engines, Financial Profiles, netDecide, PIE Technologies, RiskMetrics.

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

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

In the second of a four-part series on wealth management technology, Celent Communications ranks the top financial planning & advice software vendors in the mass affluent, high net worth, and European market segments.

The financial planning software market is a highly competitive and crowded space. Financial institutions face a difficult challenge when evaluating the various solutions; there are a number of basic similarities among the contenders, yet shades of difference are evident in each offering. To help clarify the points of differentiation, Celent has split the vendors into two categories: pure-play vendors葉hose who focus on financial planning as an end product, and front-office workstation vendors葉hose who use financial planning as the foundation for a robust front-office advisor workstation offering.

Who are the leaders in the financial planning & advice vendor market? In the new 60-page report, , Celent Communications analyzes the solutions of 12 vendors and ranks them (Table 1). The rankings are based on eight criteria: core planning functionality, market segment reach, proven solution, usability, administrative capabilities, client communication capabilities, advisor productivity functions, and portfolio monitoring.

Top Financial Planning/Advice Vendors

Category Mass Affluent High Net Worth European
Pure-Play PIE Technologies/Financeware EIS (NaviPlan) BANQIT
Workstation  netDecide Brainpower
Ones to Watch eMoneyAdvisor  RiskMetrics AssetPlanner

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:  Financial Planning & Advice 

Return to report Abstract

 

EXECUTIVE SUMMARY 3
INTRODUCTION 4
  Criteria for Participation 4
  Vendor Segmentation 4
VENDOR OVERVIEW 7
  Pure-Play Financial Planning Vendors 11
  AssetPlanner (Owned by Accenture) 11
  Banqit AB 14
  EISI (NaviPlan) 15
  FinanceWare 18
  Financial Profiles 20
  PIE Technologies 21
  Front-Office Workstation Vendors 24
  BrainPower 24
  DirectAdvice 26
  eMoneyAdvisor 28
  Financial Engines 31
  NetDecide Corporation 33
  RiskMetrics Group 36
VENDOR COMPARISONS 39
  Comparative Tables and Charts 40
VENDOR RANKINGS 52
  Top Pure-Play Financial Advice Vendors 55
  Top Front-Office Workstation Vendors 57
  Other Vendors to Watch 58
LOOKING AHEAD 60

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