Technology Trends Previsory: Wealth Management, 2022 Edition

In 2022 retail wealth management firms will continue to drive toward a singular vision for the industry: delivering holistic, personalized financial solutions to clients at scale. While this vision has remained unchanged over the last few years, mounting competitive pressures combined with unprecedented advancements in technology are forcing firms to act. The status quo is no longer an option. Wealth management firms need to leverage the technology trends that are enabling the shift toward scalable, client-centric ecosystems or risk becoming vulnerable to competitors and disruptors.

Celent identifies five broad-based, high-impact areas around which wealth managers should consider organizing their technology priorities in 2022. These areas represent the key business initiatives needed to transform current operating models in order to deliver a new generation of highly tailored client solutions.This report will provide financial institutions with a guide for prioritizing and navigating the wealth management technology landscape.

It is also important to note that not all wealth management firms are created equal. National broker dealers will have markedly different technology requirements compared to small RIAs. So while our analysis addresses the broader industry, each firm must translate this outlook into a more specific vision based on their unique business models, attributes, and demographics.