Recently we talked to Bob Ellis, a senior analyst at the financial institution consultancy Celent about various aspect of technology in (US) wealth management.

In the podcast Bob distinguishes between “need-to-have” and “nice-to-have” technologies and reminds us that clients aren’t buying technology but relationships. He sees the core value of today’s technology in helping to:

• maximize client facing time of client relationship officers
• deliver the level of service that that client segments expect

In terms of technology value for wealth managers Bob particularly highlights overlay systems that allow financial advisers to look at assets beyond what a firm is holding. This helps them get a better picture of a client’s total assets, do a better job and maybe even bring parts of the remaining assets under their management.

As to Customer Relationship Management (CRM) systems Bob believes the best-in-breed are still “home made” with a particular ability to match CRM and distribution channel specificities.

Enjoy the full podcast:

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