OVERVIEW
The Model Wealth Manager awards recognize best practices of technology usage in different areas critical to success in wealth management and is the main award that a financial firm in the industry can receive from Celent. We will be accepting nominations in seven categories outlined below.
Nominations for our 2025 program are now open and will close on January 17, 2025
We will announce our Model Wealth Manager winners at our flagship Innovation & Insight event on June 18, 2025.
Please be sure to read our FAQs carefully before submitting your nomination. Should you have any questions, please don't hesitate to reach out to modelwealthmanager@celent.com.
NOMINATION CATEGORIES AND WINNERS
Technology tools to reach new markets and client segments
Technologies that enable the democratization of wealth management continue to emerge across the industry. Wealth-as-a-Service platforms, digital tools and mobile applications are examples of technologies used to deliver financial solutions to underinvested communities and new markets such as gig workers. This is a growing area of interest to wealth management firms looking for new sources of revenue.
Personalization
Wealth management firms are looking to personalize the client journey. This category includes innovative technologies that are used to deliver more meaningful advisor/client engagement, communications, and portfolio solutions.
Streamlining Advisor Workflows
Digitizing and streamlining operations across the advisor workflow continues to be an area of focus for financial institutions. Innovative point solutions, front, middle and back-office technologies that improve advisor efficiency and productivity are essential to the creation of best-in-class platforms.
Holistic Wealth Management and Financial Wellbeing
This category recognizes best practices in utilizing technology to provide comprehensive and integrated financial solutions to client, ensuring financial well-being across all aspects of their lives. Holistic wealth management solutions offer a wide range of services across the financial journey of an individual, including financial planning, investment management, tax optimization, estate planning, insurance, and risk management, among others.
Data and Analytics
Data is a differentiator for wealth managers. This theme recognizes the use of data in driving competitive advantage. Some examples include using data management tools and technologies to deliver:
- Predictive analytics
- Curated content
- More meaningful advisor engagement
- ESG and thematic financial solutions
- Data management capabilities that enable the flow of information across systems
Essential and Emerging Technologies
This category looks at new technologies that are just beginning to emerge within wealth management. The Metaverse is a good example of a technology that financial institutions are exploring.
AI-driven Wealth Management Solutions
This category recognizes the innovative use of artificial intelligence technologies in wealth management. Examples of achieving efficiencies and enhancing the overall wealth management experience through the application of AI include, but are not limited to: personalizing investment strategies, automating portfolio management, enhancing financial decision-making processes, optimizing investment performance, mitigating risks, and delivering tailored financial advice to clients.
INNOVATION & INSIGHT DAY 2024
Interested in learning more about the program?
Visit our I&I Day 2024 hub page where you can watch interviews with last year's winners, hear from our team on the key trends and themes from the 2024 program, and watch our fireside chat between Zilvinas Bareisis, Head of Retail Banking and Payments, and Chunka Mui. They discuss many topics, from AI to climate change to trust, and how financial institutions can embrace, navigate, and shape the changing world.