The Wealth Management Technology Landscape 2005

by Isabella Fonseca, August 5, 2005



Boston, MA, USA Milan, Italy August 5, 2005

Celent expects global wealth management IT spending to reach US$2.4 billion in 2005, representing an increase of 23% compared to 2004. North America accounts for 42% of this spending.

In a new report,  , Celent examines the current wealth management market in North America, focusing on the latest market and technology trends, major developments and solutions available. The study discusses mass affluent vs. high-net worth strategies, challenges for wealth management adoption and provides examples of wealth management initiatives underway at banks.

Isabella Fonseca, Celent analyst and co-author of the report states, "As firms move away from a transaction-focused revenue model to a diversified fee-based revenue model, attracting the affluent will continue to be a priority for financial institutions. Wealth management technology is still evolving and we should expect a number of vendor related activities in the next period to come."

The report provides a framework for critical technology components required for a successful wealth management strategy. The report examines 27 vendors active in North American providing financial planning, portfolio construction/asset allocation, data consolidation, and wealth management platforms.

According to Alois Pirker, Celent analyst and co-author of the report, "Today痴 leading solutions follow two approaches: (1) delivering capabilities across the entire framework to position themselves as the unique provider of wealth management technology, or (2) providing one or several components which are open for integration into larger platforms."

Financial institutions now cover a larger spectrum of clients from mass affluent to ultra high-net worth and the vendor market has shifted in the past 18 months-and will continue to evolve- to address a more demanding and diverse clientele.

This report provides a framework for a series of upcoming vendor studies in each of the identified solution categories.

This report is 35-pages long and contains 9 figures and 7 tables. A table of contents is available online.



of Celent's Retail Banking, Retail Securities & Investments and Life/Health Insurance research services can download the report electronically by clicking on the icon to the left.  Non-members should contact for more information.



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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].

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Table of Contents



Boston, MA, USA Milan, Italy August 5,  2005

The Wealth Management  Technology Landscape 2005

Return to report Abstract

Introduction 4
Wealth Management Market Overview 6
  Customer Segmentation 6
  Mass Affluent vs. High Net Worth Strategies 8
  Moving To Open Architecture 10
Challenges With Wealth Management Technology 12
  Integrating Applications and Systems Within a Wealth Management Framework 12
  Vendor Selection 13
  ASP vs. Install Deployments 14
  Getting The Right Data 15
  Regulatory Environment 15
Technology and Vendor Segmentation 17
  Wealth Management Components 17
  Vendor Segmentation 18
  Wealth Management Vendor Preview 21
  Vendors to Watch 23
  Deployment Options 24
  Offline/Online Synchronization 26
Technology Spending 27
Wealth Management Projects 30
Looking Ahead 33
Objectivity & Methodology 34

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