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A New Report from Aite Group |
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Boston, MA, December 5, 2007
– A new report from Aite Group, LLC examines the data management requirements for holistic wealth management and the unified managed household concept, and provides a
classification scheme for data consolidation vendors. It also analyzes outsourcing solutions dedicated to the consolidation of custodial data and compares seven leading solutions in
the data consolidation space.
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According to the report, providing holistic wealth management is a key differentiator for financial advisors, as it allows them to address clients'
needs and goals in a holistic manner and ultimately establish a closer relationship with the client. However, providing holistic wealth management without the necessary technology support
can become an expensive and time-consuming undertaking. While a robust data consolidation infrastructure is a key prerequisite for holistic wealth management, many firms are struggling to
build this vital infrastructure component in-house, and are increasingly looking to outsourced solutions. Such solutions, which typically deploy direct feed interfaces to obtain transaction
and position data from custodians, can be quickly operational and do not require a large operations team to keep up to date. The solutions available, however, vary greatly in their approach
and the target client segment addressed, making comparison and selection difficult.
"PNC's acquisition of Albridge Solutions and Advent Software's announced intent to partner with Vestmark have demonstrated how dynamic the custodial data consolidation
space has become recently," says Alois Pirker, senior analyst with Aite Group and author of
this report. "With the wealth management industry increasing its focus on holistic advice, we expect to see more deals of this kind being announced in the near future."
The report also awards best-in-class recognition to vendors in the categories of data management platforms and managed data services for both the mass-market/mass-affluent segments and
high-net-worth/ultra-high-net-worth segments. It profiles and compares the solutions offered by Advent Software, Albridge Solutions, Evare, Investigo, and Private Client Resources.
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This 49-page Impact Report contains 5 Figures and 13 Tables. Clients of Aite Group's Retail Securities & Investments service can download the
report by clicking on the icon to the right.
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Related Aite Group Research:
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To purchase this report or
for additional information,
please contact:
Aite Group Sales
Tel: +1.617.338.6050
sales@aitegroup.com |
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