Announcing the Model Wealth Manager Awards: Recognizing Excellence in Wealth Management Technology
We are pleased to announce the opening of nominations for the Model Wealth Manager Awards, which honor best practices in technology usage critical to success in the wealth management industry.
We've seen a notable increase in the application of AI and generative AI across the value chain, alongside a growing focus on the impending intergenerational wealth transfer and the needs of a retiring population.
These trends highlight the necessity for innovative, personalized, and holistic wealth management solutions, presenting firms with opportunities to leverage advanced technologies and data analytics to better understand and meet the unique needs of their clients. In this competitive landscape, wealth managers should adopt a thoughtful approach to integrating NextGen technologies—such as AI, machine learning, and data analytics—to enhance data management, streamline processes, and deliver tailored experiences to an expanding client base.
We are excited to learn about the innovative initiatives that financial institutions have implemented to support the shifting wealth management landscape.
Overview of the Awards
Nominations for the 2025 Model Wealth Manager Awards are open and will close on January 17, 2025. The winners will be announced at our flagship Innovation & Insight event on June 18, 2025. We encourage all firms to review our FAQs carefully before submitting nominations. Should you have any questions, please feel free to reach out to us at modelwealthmanager@celent.com.
Our 2024 winners included:
Personalization
Morgan Stanley Wealth Management
Personalization at Scale via Fractional Shares
Streamlining Advisor Workflows
Wove: A Next-Gen Platform for Advisors
Essential and Emerging Technologies
Building the Vanguard Trading Platform of the Future
Morgan Stanley Wealth Management
AI @ Morgan Stanley Assistant
Our Model Wealth Manager Awards program was introduced in 2017; previous years’ winners can be found here: Model Wealth Manager Awards | Celent
Nomination Categories
We are accepting nominations in seven key categories that highlight the innovative use of technology in wealth management.
·Technology Tools to Reach New Markets and Client Segments
oThis category recognizes technologies that facilitate the democratization of wealth management. Examples include Wealth-as-a-Service platforms, digital tools, and mobile applications that deliver financial solutions to underinvested communities and emerging markets, such as gig workers. This area is increasingly important for firms seeking new revenue opportunities.
·Personalization
oAs client expectations evolve, wealth management firms are prioritizing personalization in their services. This category acknowledges innovative technologies that enhance advisor-client engagement, improve communication, and provide tailored portfolio solutions that meet individual client needs.
·Streamlining Advisor Workflows
oEfficiency in operations is essential for success in wealth management. This category highlights innovative solutions that digitize and streamline advisor workflows, improving productivity and operational efficiency across front, middle, and back-office functions.
·Holistic Wealth Management and Financial Wellbeing
oThis category recognizes best practices in utilizing technology to deliver comprehensive financial solutions that ensure clients' overall financial well-being. Holistic wealth management encompasses a wide range of services, including financial planning, investment management, tax optimization, estate planning, insurance, and risk management.
·Data and Analytics
oData serves as a critical differentiator for wealth managers. This category acknowledges firms that effectively leverage data to gain a competitive advantage, including the use of predictive analytics, curated content, and enhanced advisor engagement to deliver ESG and thematic financial solutions.
·Essential and Emerging Technologies
oThis category focuses on new and emerging technologies that are beginning to shape the wealth management landscape. For instance, the exploration of the Metaverse by financial institutions exemplifies the innovative spirit we seek to recognize.
·AI-driven Wealth Management Solutions
oThis category honors the innovative application of artificial intelligence in wealth management. Examples include personalizing investment strategies, automating portfolio management, enhancing financial decision-making processes, optimizing investment performance, and delivering tailored financial advice to clients.
Join Us for Innovation & Insight Day 2025
To learn more about the Model Wealth Manager Awards, we invite you to visit our I&I Day 2024 hub page. Here, you can access interviews with last year’s winners, gain insights from our team on key trends and themes from the 2024 program.
If you have any questions regarding the nomination process, please do not hesitate to contact us at modelwealthmanager@celent.com. We look forward to recognizing the outstanding innovations that will shape the future of wealth management.