Wealth Management IT Spending Forecasts by Domain, 2023–2028

Wealth management technology spending is accelerating across the globe. This report presents Celent's estimates for IT spending by wealth management firms across front-, middle-, and back-office functions, leveraging Celent's new Wealth Management IT Spending Forecast Model. The forecast is based on primary insights from the Celent Technology Insight and Strategy Survey (CTISS), as well as reported data from financial institutions.

Wealth management IT spending is projected to grow across the front, middle, and back office through 2028. The front office, containing the client- and advisor-facing distribution functions of a wealth management firm, is the largest and fastest growing domain for IT spending. The middle office, which contains functions that support front-office wealth management processes, accounts for over a quarter of total IT spending and is projected to maintain that share through 2028. Finally the back office, which includes the administrative, processing, and control functions of a firm, represents about a quarter of wealth management IT spending but will lose share over the forecast as front- and middle-office spending grow faster.

The scope of the report covers IT spending by domain, breaking down how wealth management firms are spending on:

Front office:

• Client acquisition
• Onboarding
• Digital channels
• Advisor & client platforms

Middle office:

• Portfolio management & trading
• Investment research & analytics
• Business intelligence

Back office:

• Account management & operations
• Risk & compliance
• Clearing & custody

Regional breakouts derived from individual country forecasts are also included for:

• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America

1. Wealth Management IT Spending Forecasts by Technology, 2023–2028