- Wealth Management Platforms
- Client Prospecting & Sales
- Financial Planning & Advice
- Data Consolidation
In the last of a four-part series on wealth management technology, Celent Communications evaluates the leading
vendors in the wealth management platform market. A true wealth management platform is, in a sense, unique. That is, while the platform contains distinct modules which can be implemented individually, the platform really shines as a whole, functioning as a technical, enterprise-wide framework, linking front- and back-office applications.
Who are the leaders in the wealth management platform vendor market? In the new 47-page report, Ranking the Vendors of Wealth Management Technology 2002: Wealth Management Platforms, Celent Communications analyzes the solutions of 10 vendors and ranks them. The rankings are based on six criteria: usability, market segment reach, customer relationship management, business management, market penetration, and track record.
Category | Mass Affluent | High Net Worth |
---|---|---|
Investment-focused | x.eye | SunGard x.eye |
Banking-focused | Sanchez | |
European-focused | Finantix | |
Vendors to Watch | Thomson Financial Fincentric | Finaplex |
Source: Celent Communications
“The wealth management platform market is under-developed, with many firms trying to build out their current product offerings to become a legitimate platform provider. The key to success in this market will largely depend on the flexibility of the platform to easily integrate with existing infrastructure or third-party point solutions to create best-of-breed wealth management technology,” states Celent analyst, Sang Lee the lead-author of the report.
The vendors covered in this report include: ASI, Finantix, Finaplex, Fincentric, Metavante, Monetaire, Sanchez, SunGard, Thomson Financial, x.eye.
A Table of Contents is available online. Additional reports in Celent�s four-part series “Ranking the Vendors of Wealth Management Technology 2002,” include data consolidation, financial planning & advice, and client prospecting and sales vendors.
In the third of a four-part series on wealth management technology, Celent Communications ranks the top client
prospecting and sales software vendors in the North American and European market segments.
In the new 43-page report, Ranking the Vendors of Wealth Management Technology 2002: Client Prospecting & Sales, Celent Communications analyzes the solutions of 8 leading vendors and ranks them based on the following criteria: depth of planning modules, customer management functionality, advisor administration and support tools, customer support features, proven solution, usability, administrative capabilities, market segments covered, and deployment method. Based on information from questionnaires, interviews and product demos, as well as client references, we have determined the top vendors below.
Rank | North America | Global | Vendor to Watch |
---|---|---|---|
1 | netDecide | DirectAdvice | Financial Engines |
2 | Ignite Sales | BANQIT |
Source: Celent Communications
“These wealth management systems are well suited for monitoring a client�s portfolio and notifying advisors of any opportunity to up-sell and constantly generate sales leads. The vendors in this category excel in their ability to create online collaboration between the client, the advisor, and other third parties in a multi-channel environment, a crucial aspect of wealth management technology,” states Celent analyst Isabella Fonseca, the lead-author of the report.
The vendors covered in this report include: BANQIT, DirectAdvice, Financeware, Financial Engines, Financial Profiles, Ignite Sales, netDecide and PIE Technologies.
A Table of Contents is available online. Additional reports in Celent�s four-part series “Ranking the Vendors of Wealth Management Technology 2002,” include data consolidators, financial planning & advice, and wealth management platform providers.
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�those who focus on financial planning as an end product, and front-office workstation vendors�those 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, Ranking the Vendors of Wealth Management Technology 2002: Financial Planning & Advice, 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.
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
“Features and functionality aside, we cannot stress enough the importance of product usability. No matter what a financial planning program�s capabilities, if the advisors don�t use it, then it�s 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�s four-part series “Ranking the Vendors of Wealth Management Technology 2002,” include data consolidators, client prospecting and sales vendors, and wealth management platform providers.
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, Ranking the Vendors of Wealth Management Technology 2002: Data Consolidation, 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.
Ranking | Mass Affluent | High Net Worth |
---|---|---|
1 | Adhesion Technologies ByAllAccounts | StatementOne |
2 | Advent |
Source: Celent Communications
“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 Table of Contents is available online. Additional reports in Celent�s 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.
Services Provided by Celent
Celent’s service offering falls into two categories, consulting and research, each of which is dedicated to technology in the financial services industry. We help banks, brokerage firms and insurance companies use IT to enter new markets in the shortest possible timeframes. All of our services are geared towards facilitating better informed, faster decision making.
Information is available at Celent’s Web site at www.celent.com