Ranking the CRM Technology Vendors for Wealth Management: An Overview of the European Market

by Ashley Globerman,  Isabella Fonseca, July 23, 2015
Vendor Reviews
EMEA

Abstract

Celent conducted a study beginning in February 2015 on the European CRM market for wealth management. Celent focused on technology vendors that offered stand-alone solutions that serviced the advisor and relationship manager market, and identified major trends, CRM technology and functionalities, and client preferences.

This report examines the leading vendors in the CRM for wealth management market and provides detailed profiles of each vendor, followed by comparisons and rankings. Celent has broken the vendors into two broad categories: vertical players and horizontal players. Celent has added a third category, “vendors to watch” to include vendors that are building out their wealth management functionality for an existing CRM solution.

"Over the past several years, the CRM vendor landscape has grown significantly in terms of functionality offered to advisors and wealth managers. For example, mobile and social media capabilities are becoming increasingly powerful while usability, efficiency and customization are key differentiators among vendors,” says Ashley Globerman, an analyst with Celent’s Wealth Management practice and coauthor of the report.

The following vendors are included in this report, except where noted.

“Robust CRM solutions are in high demand, especially since financial services institutions want to provide as much transparency and customized service to clients as possible. CRM systems automate critical sales, marketing, and client service activities at a financial institution,” says Isabella Fonseca, a research director with Celent’s Wealth Management practice and coauthor of the report.

This report uses the Celent ABCD Vendor View, which shows at a glance the relative position of vendors in the following categories: Advanced Technology, Breadth of Functionality, Customer Base, and Depth of Client Services on two separate X/Y scales. This report names the overall winners of the XCelent Awards for CRM systems.

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 a wholly-owned operating unit 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

3

Market Overview

7

Vendor Preview

9

Vendor Profiles

11

Acidaes Solutions Pvt. Ltd.: CRMnext

12

Maximizer Services Inc: Maximizer CRM for Wealth Management

18

Microsoft Corporation: Microsoft Dynamics CRM

25

NexJ Systems Inc.: NexJ Contact for Finance

32

Pegasystems Inc.: Pega 7

39

Vendor Comparison

46

Vendor Ranking

58

Looking Forward

61

Leveraging Celent’s Expertise

62

 

Support for Financial Institutions

62

 

Support for Vendors

62

Related Celent Research

63

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