Aite Group – Global Wealth Management Technology: Trends in Advice-Led Selling

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Advice-led wealth management activity is expected to grow in every major world market, requiring investments in financial planning solutions.

Boston, October 18, 2010 � A new report from Aite Group discusses trends in the advice-led selling of wealth management products; specifically, it examines the technology in which firms can expect to invest with regard to financial planning solutions and related professional services. The report focuses particularly on countries in which wealth management sales models are expected to undergo major change over the next few years – namely the United States, the U.K., and Australia.

Based on Aite Group interviews with 13 leading financial planning software vendors headquartered across the globe and executives at more than 15 global financial services firms, the report anticipates a growth in financial planning activity in major financial markets worldwide over the next five years. Increased regulatory pressures, the rise of relationship-based sales models, investors� demands for greater transparency, and the growing retiree population will require financial advisors to increase their adoption of financial planning tools, even in mature markets.

�While regulatory changes in the United States are not expected to be as radical as those currently taking place in the wealth management markets of the U.K. and Australia, we can expect that the SEC will require financial advisors to conduct additional needs analyses prior to making product recommendations,� says Sophie Schmitt, senior analyst with Aite Group and author of this report. �Other opportunities for wealth management to become more advice-based and client-focused lie in continental Europe, where private banking firms are under pressure to regain client trust and boost profit margins. In addition, financial advisors in the Asia-Pacific region are expected to grow their adoption of financial planning processes and tools as the competition to manage the region�s large and growing pool of high-net-worth assets intensifies.�

This 26-page Impact Note contains seven figures and three tables. Clients of Aite Group’s Wealth Management service can download the report by clicking on the icon to the right.

About Aite Group

Aite Group is a leading independent research and advisory firm focused on business, technology and regulatory issues and their impact on the financial services industry. It was founded by leading industry experts in Banking and Securities & Investments. Aite Group brings together a team of business strategy, technology and regulatory experts to deliver comprehensive, timely, and actionable advice to financial institutions and technology vendors. It seeks to become a true partner, advisor, and catalyst by exchanging ideas and challenging basic assumptions to ensure that our clients always stay one step ahead of the competition.