Market Analysis
published on May 31, 2024
Report Overview:
NelsonHall's market analysis of Transforming Wealth and Asset Management Services consists of 100 pages.
Who is this Report for:
NelsonHall’s “Transforming Wealth and Asset Management Services” report is a comprehensive market assessment report designed for:
- Sourcing managers investigating sourcing developments within the wealth and asset management industry
- Vendor marketing, sales, and business managers developing strategies to target service opportunities within the wealth and asset management industry
- Financial analysts and investors specializing in the wealth and asset management industry sector.
Scope of this Report:
The report analyzes the worldwide market for the wealth and asset management services and addresses the following questions:
- What is the market size and projected growth for the wealth and asset management services market by geography?
- What is the profile of activity in the global wealth and asset management services market by industry sector?
- What are the top drivers for adoption of wealth and asset management services?
- What are the benefits currently achieved by users of wealth and asset management services?
- What factors are inhibiting user adoption of wealth and asset management services?
- What pricing mechanisms are typically used within wealth and asset management services and how is this changing?
- Who are the leading wealth and asset management services vendors globally and by geography?
- What combination of services is typically provided within wealth and asset management services contracts and what new services are being added?
- What is the current pattern of delivery location used for wealth and asset management services and how is this changing?
- What services are delivered from onshore and which from offshore?
- What are the challenges and success factors within wealth and asset management services?
Key Findings & Highlights:
The wealth & asset (W&A) management industry is responding to new business conditions of shorter settlement times, new financial products, new competitors, and higher compliance requirements. At the same time, it must maintain the same data and operations security levels it delivers from on-site delivery centers. AI has moved to the center of what is needed to address a changing environment while using fewer employees. The goal is to reduce time to market for new offerings, increase operational flexibility, reduce TAT, improve accuracy, and meet shortened deadlines.
The industry focus is turning to:
- Faster introductions of new financial products to service new customer demographics
- Digitalization of all processes and documents to reduce the cost of delivery
- Growing presence of independent advisors working with major financial institutions requiring integration into their core platforms
- Changing customer preferences are changing the mix of preferred product offerings.
W&A managers will increasingly move their focus to:
- Deploying AI to support advisors and middle/back-office process execution
- Accelerating move to the cloud and elimination of manual processes
- Support for business model change
- Agile deployment of new functionality with DevOps
- Identification of use cases more likely to be operationalized successfully.
