The Asset and Wealth Management (AWM) industry is undergoing multiple shifts, including the democratization of services, emergence of new client segments, the great transfer of generational wealth, and higher demand for hyper-personalized and digital-first services.

There is also a growing focus on product and channel innovation to address the rising demand for unconventional asset classes, such as digital assets, cryptocurrency, and ESG-compliant products. Alongside, investors are increasingly adopting new channels such as the metaverse and self-service mediums. These themes are playing out amid the growing need to manage security and compliance challenges, higher fee pressures, and increased competition from non-traditional providers.

As AWM firms adapt to changing investor and advisor demands, AWM IT service providers are preparing to offer them innovative solutions/services at speed and scale. IT service providers are investing in partnerships with leading AWM technology providers as well as emerging WealthTechs, building solutions/accelerators/frameworks to support AWM clients in their transformation journeys, investing in CoEs / innovation labs to keep pace with emerging themes such as generative AI use cases in AWM, and developing techno-functional talent.

In this report, we study the vision & capability and market impact of 29 AWM IT service providers and position them on Everest Group’s proprietary PEAK Matrix^® framework as Leaders, Major Contenders, and Aspirants.

Scope

• Industry: Banking and Financial Services (BFS)
• Geography: global
• The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading technology and IT services providers, client reference checks, and an ongoing analysis of the asset and wealth management IT services market

Contents

In this report, we:

• Examine key trends in the AWM IT services industry
• Classify 29 AWM IT service providers as Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix^®; framework
• Discuss the IT service providers’ competitive landscape for AWM IT services in BFS
• Describe the assessed providers’ key strengths and limitations

Membership(s)

Banking Information Technology

Sourcing and Vendor Management