Abstract
Overview
Introduction
The mass affluent market remains a growth opportunity for the banking sector
as the asset base of typical investors expands. Banks targeting this sector
need to extend their offering beyond a traditional retail bank offering: more
product bundling, stronger and multi-channel customer and advisor service
options and deeper understanding of customer data.
Scope
- Covers the European, North American and APAC wealth management IT markets
- Discusses implications and industry dynamics of wealth management
technology on financial services institutions
Report Highlights
The mass affluent and high net worth markets have recovered from the downturn
of 2001, and presently exceed 2000 levels in terms of the number of wealthy
individuals and the value of liquid assets they hold. Since the beginning of
the century, wealth management returns have been solid, although the strongest
period may be at an end.
As of 2007 ' mass affluent' wealth management strategies are seeing strong
traction from various market players such as private banks, retail banks and
brokers. The form these services are now taking is very different. Banks and
other wealth management players now rarely talk of standalone strategies for
mass affluent customers.
As wealth managers seek greater competitive differentiation, they need to
develop an "ideal" service model. The Ultimate Offering, an architecture
comprised of seamlessly interconnected, SOA-enabled components combined with
underlying business intelligence and analytical CRM components, is emerging as
the IT model in private banking.
Reasons to Purchase
- Gain visibility into the dynamics of the wealth management IT market
- Gain market insight to assist in your strategic planning and go-to-market
strategy
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