European Wealth Management Technology Vendors: Evaluating Front Office Platform Vendors

by Alexander Camargo,  Isabella Fonseca, September 3, 2013
Vendor Reviews
EMEA

Abstract

Front office components support the advisory process, from acquisition to ongoing maintenance and retention, in a single workflow. As the part of the wealth management business that touches both the advisor and end user, wealth managers are making heavy investments in their front office capabilities.

European Wealth Management Technology Vendors: Evaluating Front Office Platform Vendors is the first of three reports that evaluate European wealth management vendors. This study examines the leading European vendors of front office platforms. The following vendors are included: Atos, Finantix, New Access, OpenFinance, Prometeia, TechRules, and Temenos (WealthManager).

The European technology market is a crowded one. Celent can break down vendors into roughly three distinct categories: front office platform providers, front-to-back office providers, and core banking providers. This report will feature only vendors who focus solely on the front office.

“Given the crowded European technology marketplace, it is vital to create and emphasize differentiators,” says Alexander Camargo, Analyst with Celent’s Securities & Investments Group. “Vendors who remain flexible enough to adjust between discretionary and non-discretionary investment services, and those who emphasize the modularity of their front office tools, will win new clients and retain existing ones.”

This report features a detailed profile for each wealth management platform vendor, identifying its strengths and weaknesses. Also included is a vendor comparison section, which evaluates each solution’s features and functionalities and compares vendors based on various functionalities. Celent provides an ABCD Vendor View, which shows at a glance the relative position of vendors in the following categories: Advanced Technology, Breadth of Functionality, Customer Base (number of clients), and Depth of Client Services on two separate X/Y scales.. The last section includes Celent’s considerations of where the market is headed.

In the following two reports, Celent will focus on front-to-back office platforms and core banking vendors with wealth management offerings. These reports are titled European Wealth Management Technology Vendors: Evaluating Front to Back Office Vendors and European Wealth Management Technology Vendors: Evaluating Core Banking Vendors, respectively.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

Introduction

5

 

Research Methodology

6

 

Front Office Vendors

7

 

Criteria for Participation

8

 

Celent’s ABCD Vendor Analysis

9

Vendor Preview

10

Profiles

12

 

Atos

12

 

Finantix

14

 

New Access

17

 

OpenFinance

18

 

Prometeia

20

 

TechRules

22

 

Temenos Group

26

Vendor Comparison

30

 

Technology, Delivery, and Implementation

30

 

Partnerships

32

 

Client Base and Client Support

32

 

Asset Classes, Product Support

33

 

Customer Relationship Management and Account Aggregation Functionality

35

 

Financial Planning Support

36

 

Plan Generation

39

 

Portfolio Management

40

 

Trading and Compliance

42

 

Administration and Multigeographic Suitability

43

 

Self-Directed Functionality and Mobility

44

Vendor Ranking

47

Looking Forward

49

Leveraging Celent’s Expertise

51

 

Support for Financial Institutions

51

 

Support for Vendors

51

Related Celent Research

52

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