GAB # 25 - 2016 - Tower - iGCB - Intellect FABX

Advisor Desktop 

Solutions 

Market Update 

June 2016 

CEB Wealth Management

Table of Contents 

I. Executive Summary 3 

II. Key Market Trends 4–7 

III. Emerging Technology Landscape 8 

IV. IT Spending Forecast 9 

V. Feature Audit 10–17 

VI. Vendor Profiles 18–32 

Confidentiality and Intellectual Property 

These materials have been prepared by CEB Inc. for the 

exclusive and individual use of our member companies. 

These materials contain valuable confidential and 

proprietary information belonging to CEB, and they may 

not be shared with any third party (including independent 

contractors and consultants) without the prior approval of 

CEB. CEB retains any and all intellectual property rights 

in these materials and requires retention of the copyright 

mark on all pages reproduced. 

Legal Caveat 

CEB Inc. is not able to guarantee the accuracy of the 

information or analysis contained in these materials. 

Furthermore, CEB is not engaged in rendering legal, 

accounting, or any other professional services. CEB 

specifically disclaims liability for any damages, claims, or 

losses that may arise from a) any errors or omissions in 

these materials, whether caused by CEB or its sources, 

or b) reliance upon any recommendation made by CEB. 

© 2016 CEB. All rights reserved. 2 

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I. Executive Summary 

The State of Advisor Desktop Systems in 2016 

Eighty-eight percent of wealth executives agree that the value proposition for their firm centers on 

providing holistic advice through outcomes-based approaches, and two-thirds stated that building 

holistic advisory relationships is critical to their business performance. To enable these 

mandates, firms must equip advisors with the tools required to deepen client relationships. 

For the past three years, firms have chosen to focus on frontline staff recruiting, hiring, training, 

and coaching to better support their advisors. However, our research indicates that the 

technology supporting frontline staff is not viewed favorably. Investment in advisor desktop 

technology equips advisors with the tools they need to deliver holistic experience successfully. 

As firms consider their advisor-facing tools, they must assess the different forms an advisor 

desktop can take depending on a firm’s size, products, and data needs. Some firms utilize one 

central component like a CRM, portfolio management, or financial planning solution and integrate 

the rest of their tools into it. Another option is to assemble a best-of-breed advisor desktop taking 

pieces from a variety of vendors. Yet a third option is a one-size-fits-all solution using a single 

vendor that provides multiple solutions seamlessly integrated out of the box. It is this third option 

that the following pages will address by highlighting the technology suppliers and their solutions. 

Recent industry survey data from CEB indicates that 51% of firms are already planning to adopt 

or replace their advisor desktop and all of those installations will be completed by 2018 (Figures 1 

and 2). 

The emergence of robo-advice providers from emerging and traditional wealth firms is influencing 

the choice between these advisor desktop options. Many firms are trying to compete with roboadvisors 

by providing a differentiating digital experience to their clients, but complementing that 

relationship with goal-based advice from a broker, advisor, private banker, or trust officer. 

Comprehensive desktop tools give frontline advisors the ability to offer a goal-based approach 

that is “high tech” and “high touch.” 

Figure 1: Current State of Advisor Desktop 

Implementation by 2020 

Percentage of Global Respondents, 2016 

45% 

Figure 2: Installation Date If Adopting or 

Replacing Advisor Desktop Technology 


38% 

34% 

29% 

4% 

17% 

21% 

13% 

Does Not 

Have It 

Have It, No 

Planned 

Change 

n = 47. 

Source: CEB 2016 FSI Survey. 

Adopting 

Have It, 

Replacing 

0% 0% 

2015 2016 2017 2018 2019 2020 or 

Later 

n = 24. 

Source: CEB 2016 FSI Survey 


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II. Market Trends 

Firms Struggle with Client Loyalty 

Over the past few years, client loyalty has declined across the wealth management industry, putting 

pressure on advisors to strengthen and deepen client relationships. The current strength of clients’ 

relationships with their primary advisor is fragile, presenting a two-part challenge for advisors. First, 

to prove the value of their advice—that they are differentiated enough to justify their fees—and then, 

second, to establish enough trust that clients will follow their suggestions. With only 24% of clients 

confident in their financial services providers’ capabilities, advisors face an uphill battle. 

Our research shows a decrease in loyalty across several metrics. Although wealth held by high-networth 

(HNW) clients has increased globally by 44.7%, the amount of that money held at a particular 

firm has decreased (Figure 3). And only one-third of clients receive guidance from their primary 

advisor on their entire financial situation, the rest receive guidance on one or a few aspects leading 

to a large number of clients (42%) with mono-product relationships. Furthermore, the field is 

becoming increasingly crowded, as most HNW clients are consulting more than one provider for 

personal financial guidance, and more than a quarter of Gen X and Y clients consult four or more 

providers (Figure 4). 

Figure 3: Percentage of HNW Individuals 

with at Least 60% of Assets Held at Primary 

Firm 

North America, 2001 and 2013 

75% 

Figure 4: Percentage of HNW Clients 

Consulting Four or More Financial 

Institutions for Personal Financial Guidance 


28% 27% 

59% 

12% 

2001 2013 

Gen Y 

(18-35) 

Gen X 

(36-51) 

Baby Boomers 

(52-69) 

n = 420 (2013). 

Source: CEB 2013 Customer Experience Survey, TNS 

Intersearch 2003 Affluent Market Research Program 

“Centering on Trust”. 

n = 315. 

Source: CEB 2016 HNW Client Experience Survey. 

Adding pressure to wealth firms are robo-advisors, which fill technology gaps left by traditional firms 

and cater to evolving client demands. Although few HNW clients say they are already working with 

robo-advisors, many plan to begin using one in the next year, especially Gen Y and Gen X clients 

(Figure 5). Modern advisor desktop solutions seek to enable advisors to drive loyalty and prove the 

value of their advice while also providing capabilities that position a firm as technologically 

competitive with the typical robo-advisor firm. 


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Figure 5: HNW Individuals’ Likelihood to Begin Using a Robo-Advisor in the Next 12 Months 


2% 

5% 4% 

22% 

11% 

1% 

5% 

12% 

1% 

1% 

23% 

21% 

Already Use 

21% 

Almost Certain 

Very Likely 

35% 

36% 

60% 

Moderately Likely 

Slightly Likely 

Not at All Likely 

15% 

26% 

Gen Y (18-35) Gen X (36-51) Others 

n = 94 (Gen Y); 160 (Gen X); 208 (Others). 

Source: CEB 2016 HNW Client Experience Survey. 

Changing Advisor Competencies 

In light of these challenges with loyalty, many firms are reimagining the traditional role of the 

advisors. Recent CEB surveys indicate that higher customer loyalty is directly linked to advisors that 

exhibit high levels of tailoring and teaching. Pivoting from a “service experience” approach to an 

“advisory experience” approach can deepen client relationships and earn trust. 

In an advisory experience, advisors “tailor” the clients’ experience by developing comprehensive and 

continuous understanding and “teach” by offering action-oriented advice to further clients’ goals. The 

intention is to show clients that their advisor is looking out for their best interests and to offer a 

successful “goal-based” approach. 

The results are clear: clients who report high levels of teaching and tailoring on average hold nearly 

40% more assets at their primary firm, compared to those whose rate their advisor less favorably on 

tailoring and teaching (Figure 6). The same was true across other metrics—these clients were also 

less likely to move their assets and more likely to recommend their advisor. 

While this approach is effective, one-third or fewer market managers rate their advisors’ ability to 

build holistic advisory relationships or advance clients’ understanding of the firm’s full capabilities as 

effective, and even fewer senior executives report advisors as effective at these skills. From an 

advisor perspective, only 25% are satisfied with the current tools provided to support advice delivery 

and feel current tools are ineffective (Figure 7). To unlock advisors’ abilities to deliver higher levels 

of teaching and tailoring, our research indicates that defined advisory frameworks, teaching tools, 

and advice-centric organizational structures are essential. An advisor desktop works in concert with 

other firm-provided tools and processes to enable holistic advice. 


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Figure 6: Effect of Advisor Experience on Select Loyalty Outcomes by Level of Tailoring and 

Teaching 

Percentage of Global Respondents, 2014 

95% 

Low Levels of Tailoring and Teaching 

High Levels of Tailoring and Teaching 

69% 

36% 

42% 

57% 

34% 

52% 

50% 

Recommended Advisor in Not at All Likely to Move 

Last 12 Months (% of Assets Away from Advisor 

Clients) or Switch Advisors in the 

Next 12 Months (% of 

Clients) 

n = 338. 

Source: CEB 2014 Small Business Owner Survey. 

Increased Assets Held 

with Advisor More Than 

10% (% of Clients) 

Percentage of Total 

Assets Held with Advisor 

(Mean) 

Figure 7: Effectiveness of Firm Tools and Technology 

What percentage of your advisors are satisfied with 

the technology and tools provided to them to 

support advice delivery? 

25% 

36% 

52% 

How effective is the technology in making it easy 

for advisors to execute a defined advisory process 

(1= Highly Ineffective; 7=Highly Effective)? 

3.4 

4.3 

4.1 

Americas EMEA APAC 

n=44 

Source: CEB 2014 Advisor Experience Diagnostic 

Americas EMEA APAC 

n=236 

Source: CEB 2014 Advisor Experience Diagnostic 

Enabling Advisors with Technology 

A deeper look at technology points to the need for improvements in applications, whether that’s a 

complete advisor desktop system or individual applications that combine to form an advisor desktop 

platform. 

Fifty-one percent of firms are planning to adopt or replace their integrated advisor desktop solution, 

and all of those installations will be completed by 2018. The value driving adoption is the ability to 

improve service and experience drivers. Many firms will instead choose to install or integrate 


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individual components across an extended period of time. Our research indicates that front-office 

technologies, particularly CRM, financial planning, and portfolio management, all have higher 

anticipated adoption rates then advisor desktop solutions which indicates firms may choose to 

upgrade these first. 

The highest anticipated adoption is for CRM solutions, with 49% of surveyed executives saying they 

plan to adopt or replace this technology, and 96% plan to complete installation by 2018. CRM 

technology provides the benefit of maintaining detailed client information, and its use is also 

agnostic to the client-facing advisor, broker, private banker, or trust officer. Although CRM is typically 

a component of an advisor desktop solution, technology providers are anticipating that many firms 

will choose CRM as the central hub of their new advisor desktops. To that end, some technology 

providers have developed wealth-specific CRM solutions, while other vendors are creating tight 

integrations or the ability to operate within the framework of various CRM vendors. 


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III. Emerging Technology Landscape 

Automated Onboarding 

Recent and upcoming financial regulations, such as the US Department of Labor’s fiduciary rule, 

Canada’s CRM 2 and POS, and MiFID II in the EU, have contributed to making onboarding one of 

the top three initiatives wealth management executives prioritized for the next 6-12 months. Firms 

are looking to provide their advisors with content management, workflow, and digital signature 

capabilities to ensure detailed tracking for audit purposes, automate compliance process decisions, 

and immediately capture investor consent. Emerging competition in the automated advice market 

has also forced firms to examine their current onboarding experience, and add competitive features 

like check image capture. 

Goal-Based Features (Reporting/Tracking/Proposal Generation) 

As a goal-based approach becomes the standard for firms, technology must be updated to generate 

a goal-based proposal and then monitor and track client progress toward goals. With the emergence 

of robo-advisors, firms need to enhance their advisors’ tools by adding capabilities like on-demand 

reporting, automated rebalancing, and an aggregation of accounts to see their clients’ entire 

financial picture. These features are key to providing advisors with the ability to monitor and adjust 

their clients’ goal progress in near real-time. 

Digital Collaboration 

While the wealth industry has recently focused on client mobility, half of wealth management 

executives indicate that they will work on developing a mobile technology solution or platform for 

advisors this year. Although developing on-the-go capabilities will boost advisor productivity by 

providing access to client account activity, high-level book-of-business statistics, and real-time 

market information, there is also potential for enhanced advisor-client collaboration. For example, 

enabling an advisor to have an in-person discussion with the client using a tablet or utilizing features 

that allow an advisor to see what their client is looking at in the client portal to better answer 

questions and solve problems. 

Figure 7: Enabling a Collaborative Environment 

Advisor 

Advisor Desktop 

E-signature, check image 

capture, and other tools 

make it easy to open an 

account and access the 

collaborative environment 

immediately. 

Goal-based tools allow 

advisors to better tailor and 

teach in a collaborative 

environment. 

Digital tools allow advisors 

to deepen client 

relationships by quickly 

answering questions and 

providing a tailored 

experience. 

Collaborative Environment 

Client 

Source: CEB analysis. 


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IV. IT Spending 

Spending on Advisor Desktop Technology 

Our data shows that the majority of firms adopting or replacing their advisor desktop solutions plan 

to spend under $1 million dollars on the initial purchase and implementation of the system (Figure 

8). 

Figure 8: Spend on Initial Purchase or Implementation 

Percentage of Global Respondents Replacing or Adopting the Technology, 2016 

75% 

Replace 

Adopt 

50% 

21% 

13% 

29% 

13% 

0% 

0% 

Less than US $100,000 US$100,000 to US$999,999 US$1 M to US$24.99 M US$25 M or More 

n = 38. 


Annual spend on the use and maintenance of advisor desktop solutions is predominantly less than 

$100,000 dollars (Figure 9). The majority of firms spending beyond that amount are currently in the 

process of adopting or replacing, and costs should fall to under $100,000 once these installations 

are complete. 

Figure 9: Spend on Annual Use and Maintenance 

Percentage of Global Respondents Replacing or Adopting the Technology, 2016 

63% 

Replace 

Adopt 

50% 

29% 


14% 

13% 

7% 

0% 

Less than US $100,000 US$100,000 to US$999,999 US$1 M to US$24.99M US$25 M or More 

n = 39. 


Even though half of firms expect to adopt or replace advisor desktop technology, firms are also 

choosing to upgrade one or two components of an advisor desktop solution at a time instead of 

replacing the entire solution at once. Three key components of an advisor desktop, CRM, portfolio 

management, and financial planning all have similar or higher rates of expected adoption or 

replacement. 


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V. Feature Audit 

Feature Audit Categories 

Technology providers filled out the feature audit for Advisor Desktop Systems based on the category 

definitions below. 

• Standard Native: A feature contained in the base package of the solution. Standard native features 

are provided by the firm, a third-party firm, or partner. 

• Premium Native: A feature that is only available at an additional cost or as an addition to the base 

package of the solution, and is provided solely by the firm. 

• Third-Party Premium: A feature that is only available at an additional cost or as an addition to the 

base package of the solution, and is provided by a third-party firm or integration partner. 

Plan to Offer in 12 Months: A feature on the firm’s product roadmap that they plan to offer within the 

next 12 months. 

Plan to Offer in 24 Months: A feature on the firm’s product roadmap that they plan to offer within the 

next 24 months. 


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Side-by-Side Comparison of Technology Features 

The breadth and scope of features that advisor desktop technology provides is an important factor to any 

financial institution’s investment decision. To that end, we surveyed featured technology providers on what 

capabilities their product brings to the market. 

BROADRIDGE 

FIDELITY 

FIS 

FISERV 

INFOSYS 

INTELLECT DESIGN 

INTERACTIVE DATA 

MORNINGSTAR 

NEXJ SYSTEMS 

PERSHING 

SEI GLOBAL SERVICES 

SS&C ADVENT 

TCS 

TEMENOS 

THOMSON REUTERS 

ASSET CLASS SUPPORT 

Alternatives • • • • • • • • • • • • • 

Equities • • • • • • • • • • • • • • • 

ETFs • • • • • • • • • • • • • • • 

Fixed Income • • • • • • • • • • • • • • 

Futures • • • • • • • • • • • • 

FX • • • • • • • • • • • 

Manual Asset Class Entry • • • • • • • • • • • • • • • 

Mutual Funds • • • • • • • • • • • • • • 

Options • • • • • • • • • • • • • 

OTC Derivatives • • • • • • • • • • • 

REITS • • • • • • • • • • • • • • 

CLIENT REPORTING 

Advisor Reporting 

Dashboard 

• • • • • • • • • • • • • 

Batch Reporting/Publishing • • • • • • • • • • • • • • • 

On-Demand Reporting • • • • • • • • • • • • • • • 

Performance Reporting • • • • • • • • • • • • • • • 

• Standard native • Premium native • Third-party premium Plan to offer 

in 12 months 

Source: CEB analysis, Participating technology providers. 

 

Plan to offer 

in 24 months 


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BROADRIDGE 

FIDELITY 

FIS 

FISERV 

INFOSYS 



MORNINGSTAR 

NEXJ SYSTEMS 

PERSHING 


SS&C ADVENT 

TCS 

TEMENOS 


CRM 

Activity Tracking • • • • • • • • • • • • • • 

Analytics • • • • • • • • • • • • 

Campaign Management • • • • • • • • • • • • • 

Case Management • • • • • • • • • • • • 

Cross-Sell Identification • • • • • • • • • • • • 

Relationship Tracking • • • • • • • • • • • • • • 

DELIVERY CHANNELS 

Online Client Portal • • • • • • • • • • • • • 

Responsive Design for 

Advisor (Tablet/Mobile) 

Responsive Design for Client 

(Tablet/Mobile) 

FINANCIAL PLANNING 

• • • • • • • • • • • • 

• • • • • • • • • 

Asset Allocation • • • • • • • • • • • • • • • 

Cash-Flow Analysis • • • • • • • • • • • • • • 

Financial Calculators • • • • • • • • • • • 

Goal-Based Planning • • • • • • • • • • • • • 

Investment Planning • • • • • • • • • • • • • • 

Monte Carlo Simulations • • • • • • • • • • • • • 


in 12 months 


 

Plan to offer 

in 24 months 


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BROADRIDGE 

FIDELITY 

FIS 

FISERV 

INFOSYS 



MORNINGSTAR 

NEXJ SYSTEMS 

PERSHING 


SS&C ADVENT 

TCS 

TEMENOS 


PORTFOLIO MANAGEMENT 

Cost Basis • • • • • • • • • • • • • • 

Management Reporting Tool • • • • • • • • • • • • • 

Portfolio Modelling • • • • • • • • • • • • • • 

Rebalancing • • • • • • • • • • • • • • 

Risk Tolerance • • • • • • • • • • • • • • 

TRADING 

Cross Account Order Entry & 

Processing 

Multi-Account Order Entry & 

Processing 

Single Account Order Entry & 

Processing 

• • • • • • • • • • • • • 

• • • • • • • • • • • • • • 

• • • • • • • • • • • • • • • 

Multiple Instrument Types • • • • • • • • • • • • • • • 

Order Routing • • • • • • • • • • • • • • 

Reconciliation • • • • • • • • • • • • • • 

WORKFLOW MANAGEMENT 

Approval Workflows • • • • • • • • • • • • • • 

Digital Signature Capability • • • • • • • • • • 

Document Routing • • • • • • • • • • 

Process Automation • • • • • • • • • • • • • 

Process Monitoring & Alerts • • • • • • • • • • • • • • 

Role-Based Permissions • • • • • • • • • • • • • • • 


in 12 months 


 

Plan to offer 

in 24 months 


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BROADRIDGE 

FIDELITY 

FIS 

FISERV 

INFOSYS 



MORNINGSTAR 

NEXJ SYSTEMS 

PERSHING 


SS&C ADVENT 

TCS 

TEMENOS 


ADDITIONAL CAPABILITIES 

Account Aggregation • • • • • • • • • • • • • • 

Compliance Reporting • • • • • • • • • • • • • 

Document Management • • • • • • • • • • • • • • 

Market Data • • • • • • • • • • • • • 

Portfolio Accounting • • • • • • • • • • • • 


in 12 months 


 

Plan to offer 

in 24 months 


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Feature Audit 

Feature Definitions 

ASSET CLASS SUPPORT 

Alternatives 

Equities 

ETFs 

Fixed Income 

Futures 

FX 

Manual Asset Class 

Entry 

Mutual Funds 

Options 

OTC Derivatives 

REITS 

The solution supports alternatives asset class. 

The solution provides accounting and reporting for equities. 

The solution provides accounting and reporting for ETFs. 

The solution provides asset class reporting for fixed income. 

The solution provides asset class reporting for futures. 

The solution provides asset class reporting for FX. 

The solution supports manual asset class entry. 

The solution provides asset class reporting for mutual funds. 

The solution provides asset class reporting for options. 

The solution provides asset class reporting for OTC derivatives. 

The solution supports REITS asset class. 

CLIENT REPORTING 

Advisor Reporting 

Dashboard 

Batch 

Reporting/Publishing 

On-Demand Reporting 

Performance Reporting 

CRM 

Activity Tracking 

Analytics 

Campaign 

Management 

Case Management 

Cross-Sell 

Identification 

Relationship Tracking 

The solution contains an advisor reporting dashboard. 

The solution supports batch reporting. 

The solution supports on-demand reporting. 

The solution analyzes and reports the progress of an investment strategy 

against the investment objective, utilizing internal and external benchmarks 

and indices. 

The solution captures interactions of advisors, clients, and prospects. 

The solution analyzes client and prospect data and campaign results to 

measure success and adjust strategies. 

The solution delivers and manages marketing campaigns across channels. 

The solution captures and tracks client service incidents. 

The solution identifies opportunities to sell additional products to existing 

customers. 

The solution can monitor clients’ relationships. 



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DELIVERY CHANNELS 

Online Client Portal 


Advisor (Tablet/Mobile) 

The solution contains a portal that allows clients to upload documents and 

advisors to share plans collaboratively with clients. 

The solution presents information in a responsive design for advisors across 

devices. 


Client (Tablet/Mobile) 

The solution presents information in a responsive design for clients across 

devices. 

FINANCIAL PLANNING 

Asset Allocation 

The solution lets advisors to allocate assets across asset types based on 

client's goals, risk tolerance, and time frame 

Cash-Flow Analysis 

The solution is capable of producing current and future cash flow analyses 

based on a client’s need. 

Financial Calculators 

The solution contains quick calculators based on common financial goals 

(retirement savings, college savings, retirement income, etc.). 

Goal-Based Planning 

The solution lets advisors create plans based on a client’s goals (retire in 20 

years, purchase new house in ten years, etc.). 

Investment Planning 

The solution supports investment planning, such as projected asset growth and 

goal probability via a portfolio of investments. 

Monte Carlo 

Simulations 

PORTFOLIO MANAGEMENT 

The solution is capable of producing calculations determining the percentage 

chance of a client reaching their goal based, usually via built in Monte-Carlo 

simulation tools. 

Cost Basis 

Management Reporting 

Tool 

Portfolio Modeling 

Rebalancing 

Risk Tolerance 

The system methodically captures cost basis. 

The solution allows senior managers to run internal reports on department and 

firm performance. 

The solution is capable of providing model portfolios based on risk tolerance 

and mapping existing portfolios to the model portfolios. 

The solution can rebalance a client’s holdings in a plan to match the original 

recommended portfolio. 

The solution allows advisors to conduct risk analysis for a client based on time 

frame, risk appetite, age, and other factors. 



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TRADING 

Cross Account Order 

Entry & Processing 

Multi-Account Order 


Single Account Order 


Multiple Instrument 

Types 

Order Routing 

Reconciliation 

WORKFLOW MANAGEMENT 

Approval Workflows 

Digital Signature 

Capability 

Document Routing 

Process Automation 

Process Monitoring & 

Alerts 

Role-Based 

Permissions 

The solution supports execution of securities for cross account order entry and 

processing. 

The solution supports execution of securities for multi-account order entry and 

processing. 

The solution supports execution of securities for single account order entry and 

processing. 

The solution supports multiple instrument types such as equity based, debt 

based, or foreign exchanged based. 

The solution can execute securities through an order management system 

integration. 

The solution can reconcile revenue arrangements between the sponsor and 

manager. 

The solution has the ability to configure approval workflows. 

The solution provides a digital signature option for clients. 

The system offers the ability to store and route documents to different users. 

The solution assess platform performance and recommend potential 

improvements. 

The solution has process monitoring and alerts to identify errors and 

duplications in the application. 

The solution restricts access to certain aspects of the solution to only 

authorized role-based users. 

ADDITIONAL CAPABILITIES 

Account Aggregation 

The solution is capable of pulling in client account data from external and 

internal sources. 

Compliance Reporting 

The system is capable of generating audit and other compliance related 

reports. 

Document 

Management 

Market Data 

Portfolio Accounting 

The solution supports to the secure storage, management, and tracking of 

electronic documents. 

The solution taps into real-time feeds to update plan holding information. 

The solution supports advisors in advisors securities data management, asset, 

both internal and client facing investment reports, and in some cases, 

rebalancing, cost-basis tracking or fee billing. 



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Broadridge 

Broadridge Wealth 

Key Statistics 

Founded: 1962 

Company Type: Public 

Headquarters: Lake Success, NY 

FY 2014 Revenue: $2.55 Billion USD 

Company Overview 

Broadridge Financial Solutions offers systems and 

services including investor communication solutions, 

securities processing, and operations outsourcing 

solutions. The firm’s systems help reduce the need for 

clients to make significant capital investments in 

operations infrastructure, thereby allowing them to 

increase their focus on core business activities. 

Broadridge serves a large and diverse client base in 

the financial services industry, including retail and 

institutional brokerage firms, global banks, mutual 

funds, retirement service firms, annuity companies, 

institutional investors, specialty trading firms, and 

clearing firms. The company also provides services to 

corporate issuers. 

Product Overview 

Broadridge Wealth is a standalone application that can 

be deployed at institutions using different core systems. 

The solution routes trades to twelve countries in eight 

currencies. 

Recent Updates 

In FY 2014, Broadridge completed the acquisitions of 

two businesses in the investor communication solutions 

segment. In July 2013, Broadridge acquired Bonaire 

Software Solutions, LLC (“Bonaire”), a provider of fee 

calculation, billing, and revenue and expense 

management solutions for asset managers including 

institutional asset managers, wealth managers, mutual 

funds, bank trusts, hedge funds, and capital markets 

firms. In February 2014, the firm acquired Emerald 

Connect, LLC (“Emerald”), a provider of websites and 

related communications solutions for financial advisors. 

CEB View 

Taking a federated approach to the advisor 

desktop, Broadridge offers a modularized and 

highly configurable offering that it is role based 

and can be customized and deployed across 

multiple business lines and accessed by multiple 

audiences and user types. Tight integrations into 

aggregation, market data, and advisor marketing 

tools, as well as back-office platforms, supports a 

straight-through wealth environment from 

onboarding to reconciled reporting. 

Customer Success Story 

A leading investment services company, 

serving individual investors, independent 

advisors, and employers, wanted to expand its 

international investing capability. Working with 

Broadridge, the firm successfully introduced 

24x7 global access to foreign markets in both 

equities & currencies without investing 

extensively in new technology, additional 

operations centers, or local-expert staffing. 

The solution now includes: 

• Local investing in 50+ countries at any time 

supported by local market operational support 

and customized service-level agreements. 

• Integrated international trading, clearance, 

and settlement including margin and money 

market sweep capabilities in a single account. 

• Consolidated multicurrency statements, tax 

forms, cost basis, and performance reporting. 

• Corporate action payments in local 

currencies and integrated multicurrency in 

the web-based platform for front, middle, and 

back offices. 

Clients by Geographic Location 

Clients by Service Model 

0% 0% 

100% 

Installed ASP/Hosted SaaS 

Source: Broadridge. 


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Fidelity Clearing & Custody Solutions 

Streetscape/WealthCentral 


Founded: 1946 

Company Type: Private 

Headquarters: Boston, MA 

FY 2014 Revenue: Not Disclosed 


Fidelity Clearing & Custody Solutions SM provides a 

comprehensive clearing and custody platform, 

brokerage services, trading capabilities, and practice 

management and consulting to registered investment 

advisors (RIAs), retirement recordkeepers, brokerdealer 

firms, and banks. National Financial Services 

LLC (NFS) brokerage platform supports all the clearing 

and custody businesses at Fidelity. 


Streetscape is a flexible and customizable workstation 

for broker-dealers, banks, and insurers. WealthCentral 

is a similar workstation for RIA firms that custody with 

Fidelity. Streetscape and WealthCentral offer robust 

trading, account administration, and rebalancing 

capabilities combined with third-party client relationship 

management, financial planning, portfolio management, 

and service technology applications to form a fully 

integrated solution. Because of its true open platform, 

clients can choose to work with third parties whose 

tools are then deeply integrated with the platforms. 


In early 2016, Fidelity announced its vision for a nextgeneration 

total advisor platform. The platform will be 

rolled out over the course of 2016 and 2017 and 

centers on an enhanced workstation—Wealthscape—a 

gateway to connect firms to new Fidelity tools and 

third-party solutions including eMoney. Wealthscape 

will replace Streetscape and WealthCentral over time 

as the architecture is combined for fee-based and 

commission based-clients. 


Operational excellence is very important to 

MML Investors Services and has been a large 

focus for the firm in the last two years. The 

tools that Fidelity Clearing & Custody Solutions 

rolled out for MML in the past 12 months, 

which includes remote check deposit, 

eSignature, and Business Process Manager, 

have had significant impact. MML advisors are 

more efficient, allowing them to spend a lot 

more time with their clients. 


CEB View 

For North American firms that custody or clear 

through Fidelity Clearing & Custody, the 

Streetscape or WealthCentral platforms offer a 

highly customizable advisor desktop that has deep 

integrations into internal and external systems and 

can be integrated with additional providers. 

Wealthscape will soon become the new front door 

to additional workflow tools, integrated portfolio 

management tools, and integrations with eMoney, 

offering Fidelity clients a solution that aligns 

cleanly with the need to support differentiated, 

holistic, collaborative advice delivery. 


100% 

0% 

0% 


Source: Fidelity Clearing and Custody Solutions. 


cebglobal.com

FIS 

WealthStation 


Founded: 1968 


Headquarters: Wayne, PA 



FIS is a global provider of technology and services to 

the financial services industry, serving more than 

20,000 clients in over 130 countries. Clients range 

from large, global institutions to community banks and 

independent financial firms. In November 2015, 

SunGard was acquired by FIS. 


WealthStation is a web-based, front-office platform for 

institutional wealth managers and independent 

advisors. The platform provides a holistic, clientcentric 

view of account holdings and allows for realtime 

advisor-client collaboration. WealthStation offers 

tools for client management, financial planning, 

investment management, asset allocation, data 

aggregation, trading & rebalancing, reporting, client 

access, and compliance, and may be deployed as a 

fully-integrated end-to-end suite, or with as few or as 

many capabilities as desired. 


In 2015, FIS added two additional elements to its 

current offering. The first is a series of financial 

planning applications available through the Windows 

Store in partnership with Microsoft. These include 

five tools like a social security optimizer. The second 

addition is an adapted WealthStation MyRetirement 

analytic tool modified from an advisor to a customer 

user. It gives participants the ability to plan their 

spending through their retirement years while helping 

retirement administrators encourage engagement and 

maximize contributions. 

CEB View 

WealthStation is a modularized solution allowing 

firms to use it as a platform or select pieces. 

Underlying calculations and engines can be 

directed to portals and other enterprise systems. 

In addition, WealthStation integrates with best-inbreed 

systems like CRM or investment model 

providers. The recent acquisition of SunGard (and 

the WealthStation product) by FIS will expand 

offerings for former SunGard clients and new 

users alike, as the combined resources of both 

firms can be applied to the offering. 


• A US National Bank needed a front-office 

platform that included tools for client 

management, financial planning, investment 

management, asset allocation, data 

aggregation, trading and rebalancing, 

investment reporting, account opening, and 

compliance oversight. 

• Implementing WealthStation enabled the 

integration of third-party, middle- and backoffice 

systems and provided a 360-degree 

view of the customer including an upload 

feature for held-away assets. This enabled the 

bank to reorient its client services around goalbased 

planning and investing. Future 

enhancements will expand on the existing 

goal-based financial planning capabilities, 

enable more client-facing tools, and enhance 

the trading and rebalancing features. 




Source: FIS. 

75% 

100% 



cebglobal.com

Fiserv 

The Unified Wealth Platform 


Founded: 1984 


Headquarters: Brookfield, WI 

FY 2014 Revenue: $5.25 Billion USD 


Fiserv provides outsourced services and in-house, 

licensed software systems, consulting, and 

professional services expertise to financial 

institutions. The firm’s solutions encompass 

comprehensive wealth management platforms, online 

bill payment, mobile banking, transaction processing 

services, and solutions that manage risk and optimize 

customer relationships. 


The Unified Wealth Platform (UWP) is a browserbased 

interface with a suite of financial planning, 

portfolio management, trading, reporting, and related 

decision support tools for all fee-based assets. It also 

integrates with Fiserv’s home office portfolio 

accounting and reconciliation management tools. 


Fiserv recently created a new version of its solution 

using Agile methodologies to improve and redesign it 

based on user input from their pilot clients. The new 

version enables integrated onboarding with features 

like e-signature and enhanced client input on 

rebalancing, overlay management, tax-optimization, 

and investment model construction. 


A US-based Fortune 500 diversified financial 

services institution needed to integrate its 

standalone front-, middle-, and back-office 

systems. The firm was struggling with limited 

internal data aggregation capabilities, manual 

data entry in disparate systems and heavily 

siloed business units. 

Implementation of the Unified Wealth Platform 

provided end-to-end integration and 

automation of advisor- and client-driven 

workflows in onboarding, planning, executing, 

and reporting. It has also enabled a selfdirected 

client experience that resulted in an 

80% completion rate for self-directed plans. 

The firm has also seen a 10% gain in the 

funding of managed accounts, which directly 

correlates to self-directed planning enablement 

and the seamless integration of front, middle, 

and back office. 


CEB View 

Built around a UMH focused managed account 

platform, the UWP solution offers an enterpriselevel 

desktop that focuses on the entire investment 

lifecycle, from front, to middle, to back office. The 

solution combines financial planning, proposal 

generation, data aggregation, onboarding, 

modeling, portfolio accounting, rebalancing, 

performance, and reporting while integrating with 

CRM and other advisor desktop solution tools. 


100% 

0% 

0% 


Source: Fiserv. 


cebglobal.com

Infosys 

Finacle Wealth Management Solution 


Founded: 1981 


Headquarters: Bangalore, India 



Infosys provides technology, outsourcing, and nextgeneration 

services. EdgeVerve Systems, a wholly 

owned subsidiary of Infosys, develops software 

products for banking, distributive trade, credit 

servicing, customer service, and enterprise buying. 

Finacle, the universal banking solution from 

EdgeVerve Systems, addresses the core banking, 

online banking, mobile banking, customer relationship 

management (CRM), payments, treasury, origination, 

liquidity management, Islamic banking, wealth 

management, and analytics needs of financial 

institutions worldwide. 


Finacle Wealth Management Front Office is designed 

for advisors to deliver a range of services effectively 

to their clientele. The breadth of functionality ranges 

from prospect and relationship account management, 

basic and detailed risk profiling, goal planning using 

simulator tools, portfolio management, rebalancing, 

and customer advices and statements. The solution 

has an advisor dashboard with configurable widgets 

to-do lists, tasks, alerts, and notifications, to view the 

top customers and also drill down on the 360-degree 

view. 


As of August 2015, Finacle, along with its intellectual 

property, talent pool and assets has moved to 

EdgeVerve Systems Limited. EdgeVerve was 

established in 2014 to develop differentiated 

products, and offer them on premise or as cloudhosted 

business platforms. 

CEB View 

Offered as both a standalone solution and a tightly 

integrated component of the universal banking 

platform, the Finacle Wealth Management Front 

Office tool is a widgetized solution that allows 

advisors to display and drill as deeply into data as 

they choose. The Android-based mobile app 

enables advisors to run risk profiles, view rates of 

return, and collaborate with clients on the go. 


A large bank in Asia manages the financial and 

investment needs of high-net-worth clients and 

emerging affluent clients. The group needed an 

in-depth understanding of its clients' 

investment needs, objectives, and risk 

tolerance. The bank utilized a legacy system 

that had no holistic view of client investments, 

no dashboards for the advisors, no autoreconciliation 

capabilities, and no end-to-end 

processing for investment products. 

Implementing the Finacle Wealth Management 

Solution, a front-to-back office modular 

solution, provided comprehensive coverage, 

scalability and seamless integration. The frontoffice 

suite covered prospect and relationship 

account management, end-to-end goal based 

and non-goal based financial planning, risk 

profiling, advisor dashboard, portfolio 

management, consolidated 360-degree report 

generation, etc. The bank now has a holistic 

view of the customers' assets and liabilities 

with a drill down into customers’ portfolio 

details. Over the past year, the group has been 

able to increase its clients by 11%. 



100% 

Source: Infosys. 

0% 0% 



cebglobal.com

Intellect Design 

Intellect FABX 


Founded: 2003 


Headquarters: Chennai, India 

FY 2014 Revenue: $99.48 Million USD 


Intellect Design Arena Ltd (Intellect Design) offers 

technology products for global consumer banking 

(iGCB), central banking, risk & treasury management 

(iRTM), global transaction banking (iGTB), and 

insurance (Intellect SEEC). All of the company’s 

products are built on the iDigital Platform. 


Intellect FABX (Financial Advisors Business 

Exchange) is a workstation solution that empowers 

advisors by making available all the information 

needed for effective customer interaction, relationship 

building, performance monitoring, analytics and 

decision making at one place. Intellect FABX 

aggregates client portfolio information from multiple 

sources and provides a single point interface for a 

360-degree view of clients. The module equips 

Relationship Managers (RMs) to handle their day-today 

work efficiently and envision realistic growth for 

the bank by providing facts and trends to assist 

decision making. 


Intellect Design has been investing in Digital 

Technology, a transformative distribution technology 

for channel solution design, development, and 

deployment, which enables financial institutions to 

offer a unique omnichannel platform for end 

customers as well as internal users, thereby creating 

an integrated and continuous experience at all touch 

points. The firm has also successfully implemented 

wealth solutions in the cloud and is looking to add 

even more clients shortly. 

CEB View 

Designed to support an advisor’s day-to-day 

responsibilities, FABX provides a 360-degree 

client view with enhanced features such as a 

social media hub to follow clients and a robust 

mobile version of the offering to collaborate with 

clients. In addition, FABX reporting capabilities for 

management are robust, allowing a firm to report 

on advisors and branches in various regions and 

in multiple languages and currencies. 


One of India’s largest banks has a rapidly 

growing private banking business and wanted 

to augment its current advisor desktop solution 

to increase the effectiveness of its relationship 

managers. Some of the bank’s challenges 

included reducing preparation time for client 

meetings, improving time management, 

providing a 360-degree view of the client, and 

generating performance dashboards for RMs. 

The Intellect Wealth platform including the 

FABX application provided a dedicated 

workspace for day-to-day business operations 

and helped the RMs keep track of compliance 

requirements like expiry of validity of KYC 

documents, order validations to ensure risk 

matching for customer investments, bank 

policies, and regulatory requirements. It also 

enabled the RMs to quickly reach out to clients 

when there was a change in portfolio valuation. 

Lastly, RMs in supervisory roles now have 

immediate access to their team performance. 

The solution is expected to increase RM 

productivity by at least 25-30%. 



50% 

Source: Intellect. 

0% 

50% 



cebglobal.com

Interactive Data 

PrimeTerminal/Market-Q/PrimePortal 


Founded: 1968 


Headquarters: Bedford, MA 



Interactive Data, a subsidiary of Intercontinental 

Exchange (ICE), is a global provider of financial 

market data, analytics, and related solutions. The 

company’s products and services are designed to 

increase transparency and efficiency and manage 

risk. Firms use the company’s services for trading, 

portfolio management, regulatory, compliance, risk 

management, and securities valuation work streams. 

Interactive Data was acquired by ICE in December 

2015 and is a part of their Data Services business. 


PrimeTerminal, Market-Q, and PrimePortal are 

customizable actionable information solutions that 

provide a broad range of global market information, 

third-party content, and proprietary data such as 

holdings, CRM, and research content. The solutions 

can be tailored specifically for investment, advisory, 

and sales processes within wealth management, 

private banking, online brokerage, retail banking, and 

asset management. IDC solutions, such as advisor 

workbench, are built upon a cutting-edge technology 

platform that can integrate into existing frameworks 

and functions. 


Portability is enhanced via tightly integrated mobile 

applications offering users a continuous experience 

across multiple platforms. Integrating proprietary 

content such as holdings and research enables IDC 

to create the enhanced data visualizations and 

analytics today’s wealth clients are demanding. 


A large wealth management firm was seeking 

to improve its advisor experience and required 

a solution that could easily integrate into 

existing workflows in a cost effective manner. A 

combination of PrimePortal, Market-Q, and 

Market-Q Mobile offered the desired 

functionality and enabled advisors to access 

key data from numerous sources. Because 

IDC solutions are run primarily via the IDC 

hosted infrastructure, the overall cost of 

ownership was substantially reduced, 

increasing profitability for the division. IDC was 

also able to facilitate a seamless integration 

into existing workflows using their multiple 

delivery methods. For example, the client 

chose to take APIs where internal 

developments were preferred and where 

elements required more substantial support the 

client utilized IDC hosted components. This 

solution allowed the client to accelerate its time 

to market and reduce internal development 

costs. 



CEB View 

As a provider of market data, Interactive Data 

builds upon their strong integration and 

aggregation capabilities to help firms design 

custom advisor desktops, portals, and mobile 

solutions to meet firms’ specific needs. Using their 

solutions as a hub or component, Interactive Data 

can customize their solution to pull data from 

multiple systems to support advisor workflows. 

Source: Interactive Data. 

Not disclosed 


cebglobal.com

Morningstar 

Morningstar Solutions for Advisors 


Founded: 1984 


Headquarters: Chicago, IL 

FY 2014 Revenue: $760 Million USD 


Morningstar, Inc. is a provider of independent 

investment research for financial advisors, asset 

managers, retirement plan providers and sponsors, and 

individual investors. Morningstar is divided into several 

groups including client solutions, products, investment 

management, research, and corporate. 


Morningstar solutions for advisors include investment 

planning & management applications providing financial 

advisors with a comprehensive set of tools for 

researching investments, planning, portfolio analytics, 

and developing compelling proposals. The application 

provides integrations with a firm’s back-office 

technology and platforms for advisors to build and 

maintain an advisor’s book of business. Advisors can 

create client-facing portfolio reports that combine 

mutual funds, stocks, separate accounts, offshoremutual 

funds, variable annuity/life sub-accounts, 

exchange-traded funds, closed-end funds, unit 

investment trusts, collective investment trusts, preferred 

stocks, bonds, and 529 college saving plans. 


In 2014 Morningstar acquired ByAllAccounts Inc., which 

aggregates an investor’s held-away assets for financial 

advisors, and HelloWallet, Inc., which helps investors 

bridge the gap between daily money management and 

investing for the future. In late 2015, Morningstar 

acquired Total Rebalance Expert (tRx), an automated, 

tax-efficient investment portfolio rebalancing platform 

for financial advisors. Morningstar has also expanded 

its advisor capabilities through integrations with several 

advisor technology providers, such as Redtail CRM, 

eMoney Advisor’s wealth-planning platform, 

MoneyGuidePro, Schwab’s OpenView Gateway, and 

Advicent. They also acquired RightPond in March 2016. 

CEB View 

Morningstar’s solutions for advisors are built on a 

foundation of research and analytics tools, and 

feature a proposal generation tool that can bring in 

the most relevant research and analytics tailored 

to an individual client or household. Advisor 

support also comes from goal and modeling tools, 

Finra-approved client-facing reports, and a 

recently released ipad app. 


Waddell & Reed needed a technology platform 

to support its advisors’ planning process and 

chose to integrate Morningstar® for Advisors 

and Morningstar® Portfolio. The platform’s 

side-by-side comparisons and scalable reports 

give the advisor the ability to keep analysis at a 

very high level, or drill as deep as the client 

wants. The firm attributes its redemption rate, 

one of the industry’s lowest, to the increased 

ability of their advisors to communicate the 

value of the portfolios they are building with this 

technology. 



0% 

Source: Morningstar. 

100% 

0% 


© 2016 CEB. All rights reserved. 25 

cebglobal.com

NexJ Systems 

NexJ Integrated Advisor Desktop 


Founded: 2003 


Headquarters: Toronto, Canada 

FY 2014 Revenue: $28.6 Million CDN 


NexJ Systems provides enterprise customer 

management solutions to financial services firms. Its 

solutions include industry-specific customer 

relationship management (CRM) for multi-channel 

engagement and collaboration; customer process 

management (CPM) for client onboarding and KYC; 

and customer data management (CDM) to deliver a 

holistic view of customers across line of business and 

regional data silos. 


The NexJ Integrated Advisor Desktop delivers a 

customer-centric view of front-, middle-, and backoffice 

information and integrates other enterprise data 

stores and applications within a unified user interface. 

It combines this information with best-of-breed CRM 

functionality in a flexible portal container and presents 

it to users as a single, seamless application. Within 

the solution is a portal framework, a model-driven 

application framework, an integrated development 

environment, and the NexJ Contact for Finance 

software. 


In the past three years NexJ has introduced NexJ 

Customer Data Management and Customer Process 

Management. NexJ also recently released NexJ 

Pitchbook, a mobile client engagement solution. This 

solution will enable bankers, financial advisors and 

insurance agents to deliver content interactively with 

the client, annotate with drawings, text and voiceover, 

and record video. 


Wells Fargo needed a solution to protect the 

value of a recent merger. NexJ was able to 

integrate with the existing advisor platforms of 

both organizations and perform a large-scale 

data conversion while rolling out a best-ofbreed 

solution in a short time frame. The result 

was a quick consolidation of all advisors on a 

unified integrated platform which provided 

enhanced customer-centric CRM capabilities to 

increase productivity and retain advisors, 

clients and assets. 

The Integrated Desktop was integrated to 

twelve systems including: 

• Wells Fargo Advisors’ custom security 

model 

• An entitlements engine 

• Its operational data store 

• A third-party customized advisor 

platform 

• The company’s batch e-mail 

distribution system 

• An in-house query and reporting tool 


CEB View 

As a known player in the CRM space, NexJ is well 

positioned to deliver an integrated Advisor 

Desktop solution that supports client centric 

advice, including prospecting, onboarding, KYC, 

and ongoing engagement requirements. 

Integration capabilities allow firms to patch into 

existing accounting platforms, portfolio 

management systems, and more, to design the 

desktop that best meets their business model and 

advisor preferences. 


93% 

7% 

0% 


Source: NexJ Systems. 


cebglobal.com

Pershing 

NetX360 


Founded: 1939 

Company Type: Private 

Headquarters: Jersey City, NJ 

FY 2014 Revenue: Not Disclosed 


Pershing provides global financial solutions to 

advisors, asset managers, broker-dealers, family 

offices, fund managers, registered investment advisor 

firms, and wealth managers. As a business-tobusiness 

provider, Pershing offers clearing, custody 

and settlement services, investment solutions, 

marketing and practice management services, 

retirement solutions, and technology and data 

management services. 


The NetX360® platform is a comprehensive wealth 

management portal where advisors have a single 

point of access to manage their business, conduct 

research, perform transactions and support their 

clients' needs. The NetX360® platform provides the 

technology solution to manage clients’ business, 

whatever their chosen business model may be— 

commission, advisory, retail, self-directed, institutional 

or asset management. It includes a suite of digital 

solutions, namely NetX360 Mobile and NetXInvestor 

Mobile. 


In the past three years, Pershing has undertaken a 

full digital enablement strategy starting with the 

redesign of the NetX360 professional platform for 

advisors which added a new user interface, analytics 

dashboards and integrations. The NetX360 mobile 

application was also redesigned along with the 

NetXInvestor platform. 


A securities firm needed an open architecture 

platform with a host of wealth management 

solutions. The firm’s primary goals were to 

simplify things for their advisors while 

deepening relationships with their clients. After 

implementing the NetX360 solution, the firm’s 

advisors were able to meet their clients needs 

holistically. The firm was also better positioned 

to appeal to the target market, clients in their 

30s and 40s. As a result, the firm has seen 

significant growth year over year. 


CEB View 

For clients who clear or custody with Pershing, the 

NetX360 platform offers integrations to not only 

their own solutions (Managed Investments, Wealth 

Reporting via Albridge, NetXInvestor, etc.), but 

also easily integrates into multiple leading advisor 

software solution providers. In addition, Pershing 

offers enhanced client onboarding and e-signature 

support for straight-through processing. Mobile 

solutions for both advisor and client are adaptive 

and responsive and can be accessed by multiple 

devices. 


85% 

15% 

0% 


Source: Pershing. 


cebglobal.com

SEI Global Services 

SEI Wealth Platform SM /Wealth Advisory Services (WAS) 


Founded: 1968 


Headquarters: Oaks, PA 



SEI provides investment processing, investment 

management, and investment operations solutions for 

corporations, financial institutions, financial advisors, 

and ultra-high-net-worth families. SEI manages or 

administers $670 billion in mutual funds and pooled or 

separately managed assets, including $262 billion in 

assets under management and $408 billion in client 

assets under administration. 


The SEI Advisor Desktop is an integrated component 

of SEI’s Wealth Platform, SM which supports front-, 

middle- and back-office processing services. The SEI 

Advisor Desktop user interface enables wealth 

managers to access pertinent client and prospect 

information to service existing client relationships and 

actively engage in acquisition activities. Through a 

single, integrated experience, an advisor sees 

household, client, and account data related to the 

advisor’s existing book of business, relevant activities 

and open tasks along with the ability to run a fact find, 

investment proposals, and policy statements. 


In 2016, SEI will launch a revamped end-client 

website that will support consumption on mobile 

devices. An advanced client reporting solution is also 

in development using SEI’s existing proposal 

generation tool. It will facilitate a seamless transition 

from proposals and planning to enrollment and 

ongoing account review. 


A regional bank sought to upgrade its wealth 

management system in order to more 

efficiently satisfy regulatory requirements. The 

firm recognized the need to improve its policy 

process for all of the relationships at the bank. 

In order to efficiently satisfy requirements and 

achieve goals, the firm needed a mechanism to 

track all clients with an active policy, 

procedures in place to update this information 

on a regular basis, and a standardized and 

uniform way to capture this information across 

each relationship and/or household. SEI’s 

Wealth Advisory Services solution delivered 

the mechanism in a standardized format to 

capture policy specific client information, track 

which policy is active for each account, see 

past active policies and include firm-specific 

language to ensure all clients were being 

measured uniformly in the process. It also 

simplified the policy creation process to 

increase efficiency. Lastly it helped the firm 

institute a standard set of procedures to follow 

for updating/reviewing the information, setting 

appropriate deadlines, and adding alerts. 


CEB View 

A component of the SEI Wealth Platform, the 

Advisor Desktop Interface is designed to support 

the entire client lifecycle from a household 

relationship, including capturing and tracking 

goals. As a configurable/customizable outsourced 

solution, firms don’t need to install software or use 

their own servers, and advisors can access the 

system from any device. 


0% 

100% 

0% 


Source: SEI Global Services. 

Note: SEI offers a blended model of ASP/Hosted with backoffice 

securities processing support. 


cebglobal.com

SS&C Advent 

Advent Portfolio Exchange® (APX) 


Founded: 1983 


Headquarters: San Francisco, CA 

FY 2014 Revenue: Not disclosed 


As a business unit of SS&C, SS&C Advent provides 

solutions to wealth management firms, asset 

managers, hedge funds, fund administrators, prime 

brokers, and family offices. The company offers both 

on-premise and cloud-based solutions. 


Advent Portfolio Exchange ® (APX) integrates portfolio 

management, CRM, and client reporting on a single 

platform. APX offers an advanced CRM, report 

packaging capability and performance calculations 

with no incremental IT footprint, maintenance, or 

integration requirements. This enables relationship 

managers to surface information from detailed 

contact and portfolio data in a single database. APX 

also easily patches into Advent Data Solutions, 

including widely used Advent Custodial Data® which 

has streamlined feeds into APX, and easily integrates 

into other Advent products and services. 


APX 15.1 was released in April 2015 offering greater 

flexibility for customized client reporting, better 

automation functionality to increase operational 

efficiencies and user experience enhancements. APX 

15.2 was released in October 2015 and added 

accounting and performance, reporting and security, 

and user experience and workflow enhancements. 


An asset manager used separate software 

platforms to run portfolio accounting, CRM, 

contact data, client mailings, and internal 

reporting. To save time and reduce the risk of 

errors, the firm decided to integrate its portfolio 

and client relationship data into one platform. 

APX has streamlined processes and improved 

accuracy across the firm’s operations most 

notably their compliance and investor due 

diligence readiness and ease of integration 

with third-party systems. It has also delivered a 

streamlined account set-up process. 


CEB View 

APX offers flexibility in installation options so that 

firms looking for a tightly integrated portfolio 

management, CRM, and reporting system can 

host on premise or use a cloud-based option and 

can choose from a range of middle and back office 

outsourcing services. As SS&C Advent focuses 

more on both services and the cloud, clients will 

see more real-time mobility options for advisors on 

the go, client-facing portal solutions, and 

outsourcing services for firms to leverage at their 

discretion. 


65% 

35% 

0% 


Source: SS&C Advent. 


cebglobal.com

Tata Consultancy Services (TCS) 

TCS BaNCS 


Founded: 1986 


Headquarters: Mumbai, India 



Tata Consultancy Services (TCS) offers a consultingled 

integrated portfolio of IT and IT-enabled services 

delivered through its unique Global Network Delivery 

Model (GNDM). TCS has solutions for a variety 

of industries including banking & financial services, 

energy, resources & utilities, government, health 

care, insurance, life sciences, manufacturing, media 

& information services, retail & consumer products, 

telecom, travel, and transportation & hospitality. 


The TCS BaNCS solution provides capabilities across 

two key facets of an advisor’s role: client 

management and client engagement. Client 

management features include a 360-degree view of 

the customer, task assignment and management, 

activity tracking, an alert and notification system, and 

the ability to track client portfolio progress against 

goals, benchmarks, and asset-class thresholds. 

Client engagement features include need analysis 

using an interactive questionnaire framework, 

financial profiling, financial planning, portfolio 

construction and monitoring, and a system that 

recommends and executes trades. 


TCS launched TCS BaNCS Digital in 2014, which 

uses a hybrid architecture to provide solutions for 

internet and mobile channels not tied down to any 

specific operating platform. In the same year, TCS 

completed the integration of ALTI, whose acquisition 

added to their IT consultancy services. The company 

also recently acquired CRL, a high performance 

computing start-up. 

CEB View 

A truly global solution, the TCS Advisor Desktop 

supports multi-lingual and multi-currency client 

lifecycle management and a mobile/any device 

approach. TCS also offers robust management 

reporting, which is customizable so that firms can 

easily manage and monitor their advisor force. 


One of the top five asset management 

business providers in the United States needed 

to transform its personal advisory program for 

the firm’s retail clients. The solution had to 

have an accessible and affordable means of 

providing ongoing advice to retail clients, a 

scalable advice platform to cater to different 

client segments, and a modular and extensible 

design that would adapt to the firms’ enterprise 

application and data architecture. 

The firm used TCS BaNCS portfolio analytics 

to ensure that advisors were able to have an 

analytical view of a client’s portfolio holdings, 

understand the current allocation, and review 

the portfolio allocations against a target 

allocation model. The company also added the 

TCS BaNCS performance measurement 

solution. Adopting these solutions has helped 

to eliminate data redundancy. 



40% 

60% 

0% 


Source: Tata Consultancy Services. 


cebglobal.com

Temenos 

WealthSuite FrontOffice 


Founded: 1993 


Headquarters: Geneva, Switzerland 

FY 2014 Revenue: $468.7 Million USD 


Temenos develops software for financial services 

institutions such as retail, corporate, universal, 

Islamic, and private banks. Solutions offered include 

core banking, channel solutions, payments, private 

wealth management (front and middle office), fund 

administration, enterprise data management, and 

collections. 


WealthSuite FrontOffice is an integrated wealth 

management platform with a suite of components that 

can be combined flexibly to create a seamlessly 

integrated business solution. It includes preconfigured 

guided client onboarding and proposal 

generation, multi-currency and multi-language 

options, as well as mobile applications. The rolespecific 

variations complete the solution’s effort to 

maximize client support. The solution offers the 

opportunity to install all or select components for 

those that are budget conscious. 


Currently there are several updates in process such 

as tablet-based advisor applications and a re-design 

of the user interface. Temenos also plans to offer 

real-time processing. 


A tier-one Global Private Bank needed to replace 

its front-office solution with a system that could 

provide a full view of client information and 

increase the productivity of the portfolio 

managers. 

Implementing WealthSuite modules replaced the 

legacy front office platform improving the firm’s 

access to essential core back-office data. This 

was crucial to providing an accurate view of the 

bank’s clients and producing large volume client 

statements. Using Appway in combination with 

WealthSuite web services, the firm was also able 

to build out a seamless client onboarding 

workflow. Consolidating the firm’s technology into 

a single tool also reduced portfolio manager effort 

and increased productivity. 


CEB View 

As a true global player, Temenos offers a highly 

configurable and customizable advisor desktop 

solution through WealthSuite FrontOffice that 

provides strong client management, proposal, and 

portfolio management and reporting capabilities. 

This multi-lingual, multi-currency platform not only 

supports global clients, but also global users as 

both client-facing reports and advisor-supporting 

UIs can be adapted to support multiple user 

languages and business models. 


75% 


0% 


Source: Temenos. 


cebglobal.com

Thomson Reuters 

Thomson ONE Wealth 


Founded: 1799 


Headquarters: New York, NY 



Thomson Reuters’ Financial & Risk division provides 

critical news, information, and analytics, enabling 

transactions and bringing together financial 

communities. In addition, the Financial & Risk division 

offers leading regulatory and operational risk 

management solutions. Thomson Reuters also has 

Legal, Tax & Accounting, Intellectual Property & 

Science, Reuters News, and Global Growth and 

Operations divisions. 


This advisor desktop solution incorporates company, 

political, and macroeconomic news from Reuters as 

well as broker research and institutional-strength 

research tools (StarMine analytics, Eikon Screener). 

Other features includes a single, real-time view of 

multiple portfolios, customized, in-depth investor 

reports, and simple portfolio summaries. The solution 

also has the capacity to weigh allocations across 

multiple asset classes. 


Thomson Reuters’ solution is now accessible via 

internet browsers and on portable devices such as 

phones and tablets. 


CEB View 

By combining Thomson ONE, Eikon, and BETA, 

along with portal content, Thomson Reuters’ 

clients have access to a comprehensive front-, 

middle- and back-office solution. The addition of 

real-time market data (including Lipper and other 

sources) allows for enhanced analytics and 

customizable planning/model creation to support a 

tailored approach to wealth management. 


40% 

60% 

0% 


Source: Thomson Reuters. 

Note: Client ID provides access to both the installed and SaaS 

version. 


cebglobal.com

GAB # 25 - 2016 - Tower - iGCB - Intellect FABX

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