Wealth Management Technology: Morgan Keegan & netDecide

March 18, 2003

Abstract

Boston, MA, USA March 18, 2003

Morgan Keegan and Company, Inc. is a Memphis, Tennessee-based regional broker-dealer with 140 offices in 14 southeastern states. Morgan Keegan serves both institutional and individual investors throughout the country. In March 2001, Morgan Keegan was acquired by Regions Financial, the 23rd largest banking holding company in the U.S. This case study examines Morgan Keegan痴 Private Client Group (which has 650 financial advisors and approximately US$20 billion in assets under management) and its strategic decision to move from a transaction-based broker-dealer organization to a more fee-based, advice-centric firm. Morgan Keegan concluded early on that a robust wealth management solution will play a vital part in that transformation process. The study looks at the entire vendor evaluation process undertaken by Morgan Keegan and how it came to decide on netDecide as its major third-party vendor for the entire project. The study also describes the actual implementation process and Morgan Keegan痴 assessment of its on-going relationship with netDecide.

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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 subsidiary of Marsh & McLennan Companies [NYSE: MMC].

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Table of Contents

 

Boston, MA, USA March 18, 2003

Wealth Management  Technology: Morgan Keegan  & netDecide

Return to report Abstract

 

INTRODUCTION 3
MARKET OVERVIEW 4
  Components of a Wealth Management Solution 4
NETDECIDE 6
MORGAN KEEGAN 9
  Background 9
  The Search Process 9
  Implementation 11
  Working Progress 12
LOOKING AHEAD 13

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