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2 months ago | 
wealthtechtoday.com | Jean Sullivan |Craig Iskowitz
EXECUTIVE SUMMARYTech spending has become critical for wealth management firms’ survival and growth, with U.S. firms increasing investments by 4-5% annually.
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Jun 30, 2024 | 
celent.com | Alenka Grealish |Keith Raymond |Jean Sullivan |Patrick Wegner
30 June 2024 Over the past year, generative AI (GenAI) has gone from moonshot to reality. What does this mean for financial institutions? To sketch out a picture of this new reality, Celent sought out the point of view of AI technology providers. Celent distributed an online survey to technology platform and service providers that support financial institutions in wealth management, insurance, banking, and capital markets.
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May 28, 2024 | 
celent.com | Jean Sullivan
A recent survey conducted by Oliver Wyman indicates that retail investors have grown more comfortable with using generative AI (GenAI) for financial advice and insights. The Oliver Wyman survey captured responses from 25,000 consumers across 16 countries on a multitude of topics including wealth management. In fact, the topic of financial advice yielded some of the most compelling research findings.
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May 22, 2024 | 
celent.com | Chris Bendtsen |Ashley Longabaugh |Jean Sullivan
Artificial intelligence, cloud computing, and open data ecosystems are transforming how wealth management firms operate. How is this affecting technology strategies and budgets across the globe? And which emerging technologies are firms prioritizing? Celent surveyed 200+ executives to find out; watch our webinar on-demand to learn more about this year’s findings and what it means for wealth management tech strategy in 2024 and beyond.
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May 17, 2024 | 
celent.com | Chris Bendtsen |Jean Sullivan
Generative AI adoption in wealth management is progressing quickly. Celent surveyed wealth management executives at some of the largest wealth management firms in the world to learn about the state of generative AI in the industry. We asked them how their sentiment toward GenAI had changed over the prior year, their state of adoption by area, their view of expected impact by use case, key success factors based on experience, and their technology approach.
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Apr 25, 2024 | 
celent.com | Jean Sullivan
This report represents the second in the 2-part series “The New Wealth Management Paradigm – From Apps to Agents.”The wealth management industry is on the cusp of transformation – a new paradigm is emerging - driven by advancements in technology.
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Mar 20, 2024 | 
celent.com | Jean Sullivan
21 March 2024Model Wealth Manager 2024 Award for Streamlining Advisory Workflows Wealth management firms point to advisor workflow automation as one of the biggest opportunities for boosting productivity and freeing up advisors to spend more time on client-facing, revenue-generating activities. But workflow automation is no easy feat as it requires deep integrations across the tech stack allowing for the bidirectional flow of information. Most wealth managers lack this connectivity.
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Mar 20, 2024 | 
celent.com | Jean Sullivan
Morgan Stanley is the first major global wealth management firm to incorporate fractional share allocation as an integral component of its UMA advisory platform and Morgan Stanley at Work employee stock purchase plans. This is no small feat as the firm’s UMA assets represent $500 billion. Providing greater personalization to retail investors is the core benefit behind Morgan Stanley’s fractional share initiative.
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Mar 20, 2024 | 
celent.com | Chris Bendtsen |Ashley Longabaugh |Jean Sullivan
Our wealth management team is delighted to announce the winners of this year’s Model Wealth Manager Awards program! The submissions pool was competitive with entries from global financial institutions. We would like to thank all of the financial institutions and supporting service providers who entered this year’s program, and we hope to see you again in 2025 (the submission window opens June 2024).
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Feb 28, 2024 | 
celent.com | Jean Sullivan
Fractional share trading for equities and ETFs is not new. Widespread adoption of fractionals in mostly brokerage accounts were spurred on by the move to zero-commission trading in the U.S. (2019.) “Digital custodians” such as Apex Clearing and Folio Institutional (and now Altruist and DriveWealth) were early enablers of this functionality for fintechs and robo advisors.
