Wealth management enterprises are facing challenges such as fee compression, as non-traditional competitors are offering automated investment advisory services. Further, there is an increase in demand for superior digital experience due to factors such as the rise in the proportion of millennials inheriting wealth. Wealth management firms need partners for their digital transformation journey as they look to enhance customer experience as well as provide digital platforms and tools to augment the capabilities and experience of wealth advisors. This is leading to the rise of the hybrid advisory model, which requires a fine balance of human interaction and deployment of intelligent automated investment advisory offerings (robo-advisory tools).

Accordingly, service providers have stepped up their investments to deliver a holistic front-to-back digital transformation for wealth management firms. Service providers with third-party digital platforms/products implementation experience, front-office design & experience capabilities, domain & business consulting expertise, a strong partnership & innovation ecosystem, and breadth of solutions/services across digital technologies, are able to demonstrate superior market success and client experience.

In this research, we present an assessment and detailed profiles of 18 digital service providers featured on the digital services for wealth management PEAK Matrix. Each service provider profile presents a comprehensive picture of the provider's service focus, key Intellectual Property (IP) / solutions, partnerships/alliances, and other digital & domain-specific investments.

The assessment is based on Everest Group’s annual Request for Information (RFI) process for the calendar year 2017, interactions with leading services providers, client reference checks, and analysis of the wealth management digital services market

Scope of this report

• Services: Digital services
• Geography: Global
• Subvertical: Wealth management
• Service providers: 18 leading digital service providers

Everest Group has a complimentary five-page PEAK Matrix preview document for this service provider landscape report.

Membership(s)

Banking, Financial Services & Insurance (BFSI) - Information Technology Outsourcing (ITO)