Evaluating Wealth Management Advisor Platforms: Integrating the Front Office

Report Summary

Evaluating Wealth Management Advisor Platforms: Integrating the Front Office

Advisors are spending far too much effort making technology work for them, which significantly eats into the time they have available for advising clients. Low levels of advisor productivity have become a prime concern for many wealth management firms. Th

Alois Pirker
Research Director

Boston, MA, February 26, 2007 – According to a new Aite Group report, wealth management firms that want to compete in the mass-affluent and high-net-worth markets will have to consider integrating their front-office environment, either by moving to a complete and pre-integrated advisor platform or through the use of a front-office integration framework.

Aite Group's study reveals that retail banks and brokerage firms are leaders in the wealth management industry when it comes to platform deployments. By analyzing 250 deployments across five of the leading advisor platform providers, it was found that 75% of deployments can be contributed to these two industry sectors. Other wealth management firms will need to consider deploying similar platform technologies to remain competitive.

According to Alois Pirker, Senior Analyst at Aite Group and author of the report, "For too long, wealth management firms have thrown far too many tools at their advisors without considering how certain tools fit into the advice process and without defining a consistent technology strategy for the front office. An integrated front-office environment will increase advisors' productivity within a firm, and it will help attract and retain top advisor talent."

This report analyzes the requirements in the wealth management front-office, defines the wealth management advisor platform concept, and differentiates requirements and implementation strategies by platform type and wealth management client segment. It also analyzes and compares the solutions of six of the leading wealth management vendors that focus on front-office integration, including: AdviceAmerica, Finantix, NorthStar Systems International, SunGard, Thomson Financial, and Xeye.

In this report, the following awards are distributed by platform type and client segment:

This 69-page Impact Report contains 10 figures and 9 tables. Clients of Aite Group's Wealth Management Service can download the report

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