Introducing the US WealthTech Landscape Report 2024

A new WealthTech Landscape Report from The Wealth Mosaic , focused on the wealth management sector in the United States.

We are pleased to announce the publication of the US WealthTech Landscape Report 2024, showcasing the pivotal role that technology plays in the evolving landscape of US wealth management.

With the rapid pace of change in financial services, understanding technology's impact on this sector is more crucial than ever. This US-focused Landscape Report features a series of insightful articles that explore the trends, challenges, and innovations surrounding technology adoption in wealth management. Contributions come from a range of organizations, including Advisor360, Alpha Tech Partners, Aureus Advantage, Croesus, Diamond Wealth, ERI, First Rate, J.P. Morgan Wealth Management, Malka Media, Pirker Partners, Seismic, and Transcend Capital Advisors.

The articles you will find within the report provide valuable perspectives on how technology is transforming the wealth management industry. They discuss various aspects of technology adoption, from the latest innovations to how firms can leverage technology to enhance client engagement, streamline operations, and comply with regulatory demands.

The report also features a section dedicated to a series of solution provider showcases, offering insights into the offerings and capabilities of the firms featured. This section is designed to provide an overview of a selection of solutions available on the market today, showcasing some of the available technology tools and partners that might address your business needs. Finally, we culminate the report with the directory section that introduces our online Solution Provider Directory (SPD) and references the size of market relevant to the US wealth management sector.

We trust you find this report invaluable to your business needs and supportive of your understanding of the fast-moving technology marketplace surrounding the US wealth management market. We hope the report serves to not only enhance your knowledge of the marketplace in terms of available solution providers and emerging trends, but also assists you in navigating this ever-evolving sector with confidence.

Interested in reading the US WealthTech Landscape Report 2024? You can read the report online here. Alternatively, below is a summary of the key sections of the report.

REPORT AT A GLANCE

Landscape in focus - wealth management in the US

Wealth management in the United States has undergone significant transformation over the past decade, driven by technological innovation, demographic shifts, and changing investor expectations. The increasing array of technology available to wealth managers has revolutionized how financial services are delivered and consumed.

The report takes a closer look at many of the themes the industry is currently tackling, with contributions and perspectives from both wealth managers and technology vendors alike, providing a broad view on the application of technology in today’s wealth management market to drive potential benefits to client, advisors and the business of wealth management.

Scene setter - Data & insights

For any wealth management firm, and any technology vendor offering a service in the US market, the forces shaping the industry - from wealth distribution to M&A activity, to the evolution in AUM – this section provides a visual view of some of the major dynamics impacting US wealth management today.

Thought leadership

This section of the report offers a comprehensive collection of industry insights, with a look at the key drivers of change in the US wealth management industry, providing readers with an overview of the forces shaping the sector.

The client

This section looks at how firms are developing persona tailored strategies and solutions to grow investor wealth based on individual goals and risk tolerance.

In response to the shifting demographic of investors, wealth management firms are increasingly focusing on solutions that provide personalized financial advice. Tailored strategies are now designed to align with each investor's unique goals, lifestyle, and risk tolerance, as clients seek more customized approaches to growing their wealth. From younger investors looking for digital platforms to older generations prioritizing retirement planning, firms are adapting their offerings to meet a broad spectrum of needs. This section explores how these tailored strategies not only drive better financial outcomes but also foster deeper client engagement.

The advisor

This section looks at how firms are leveraging technology innovations to make advisors lives easier, helping them focus on value-added activities to build lasting client relationships.

Contributors look at how wealth management firms are leveraging cutting-edge technology to streamline workflows and free up advisors to focus on what truly matters – delivering personalized, value-added advice. By automating routine administrative tasks, such as portfolio management, data analysis, and compliance reporting, technology allows advisors to dedicate more time to building deeper, more meaningful client relationships. With access to AI-driven tools and advanced data analytics, advisors can offer insights that are timely and highly relevant, tailoring investment strategies to meet each client's unique financial goals and preferences.

The business

This section takes a closer look at how firms direct, build, and maintain a modern wealth management technology infrastructure

How are wealth management firms designing and maintaining cutting-edge technology infrastructures to stay competitive in today’s fast-evolving financial landscape? How do they ensure their efforts and investments don’t fail?

By leveraging digital platforms, firms are driving transformation across every aspect of their operations, from portfolio management to client communication. These platforms streamline processes, reduce operational costs, and enable more efficient workflows, allowing advisors to focus on delivering higher-value services.

Whether through automation, data analytics, or AI-driven insights, wealth management firms are using technology to enhance decision-making and ensure that their infrastructure can scale with the increasing demands of clients and the market.

The future

Contributions in this section offer views on the future perspective in wealth management.

This section presents forward-looking insights on the future of wealth management, with a focus on how advanced technologies like AI and data analytics are revolutionizing the industry. As client expectations evolve, wealth management firms are embracing these innovations to deliver highly personalized and efficient financial strategies. AI-powered tools can analyze vast amounts of data to offer deeper insights into client behaviors, market trends, and risk factors, enabling advisors to craft more relevant investment plans. This level of precision not only enhances the client experience but also streamlines decision-making, making wealth management more agile and responsive to changing financial landscapes. 

Solution Showcases

Our Solution Showcases provide a more detailed overview of the business and solution set of a specific firm. This year’s report includes comprehensive showcases for First Rate, Seismic, Plumb, Malka, and ERI, among others.

Online Solution Provider Directory

While this report is a one-time showcase of this market, our online directory is available 24/7, 365 days a year, as a digital host of solution provider profiles, solution profiles, and content. Whatever your profile, this resource has been built according to the business needs of firms in the US and the wider wealth management community across the world. 

Ultimately, the global wealth management community must effectively leverage technology in all business areas to survive and thrive. The need to reach out and collaborate with a multitude of vendors to achieve a broad set of goals across the wealth management community is becoming widely accepted. The missing piece of the puzzle is the visibility between the vendors and the wealth managers, which is the purpose of The Wealth Mosaic.

We hope you find value in this report and look forward to continuing to bring you more insight into technology and wealth management in the future. If you are interested in featuring in the next issue of this report series, please don’t hesitate to get in touch at office@thewealthmosaic.com

Interested in reading the full report? You can read this edition of the US WealthTech Landscape Report online here

ABOUT THE WTLR SERIES

Our goal with our WealthTech Landscape Reports (WTLRs), is to collate relevant, insightful content and comments from both wealth managers and vendors operating in a specific region. Each WTLR is founded on a curated directory of hundreds of relevant technology and related solution providers to the business needs of the wealth management community in focus. The directory is supported by a rich variety of thought leadership articles and interviews with industry participants from both buy and sell side, plus a section of Solution Showcases. We also look at country, regional, and sectoral trends.

If you are interested in contributing to our WealthTech Landscape Report series, don't hesitate to get in touch.

ABOUT THE WEALTH MOSAIC

The Wealth Mosaic is a UK-headquartered online solution provider directory and knowledge resource, focused specifically on the wealth management industry. Built around a curated and constantly growing and evolving directory of solution providers to the wealth management sector across the world, our business is founded on five core principles that make us different from other offerings in the market:

• Wealth management-focused
• Directory-first
• Research-led
• Online-first
• Accessible

Behind this report, the engine room of our business in delivering all of the above is our website. This is available to any user 24/7, 365-days a year. As of July 2024, our website hosts over 2,750 solution provider profiles and hosts over 6,250 solution profiles from these businesses. Each of these solutions is tagged to at least one of the 39 headline Business needs categories across our first two live marketplaces (Technology and Data, and Consulting, Research and Support Services). These Business needs categories create the first level of filtering around our Solution Provider Directory.

Alongside our core directory focus, we continue to add and further develop the content, knowledge resources, and tools within our platform to support the user in their discovery, learning and engagement process.

For Wealth Managers

For wealth managers, the buy side of our marketplace, TWM is designed to enable discovery of key solutions, solution providers and knowledge resources by specific business needs.

For Solution Providers

For solution providers and vendors, the sell side of our marketplace, TWM exists to support the positioning, exposure and business development needs of these firms in a more complex and demanding market.

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Advisor360° , Alpha Tech Partners , Aureus Advantage , Croesus , Diamond Wealth , ERI , First Rate, Inc , J.P. Morgan Wealth Management , Malka , Pirker Partners , Seismic , Transcend Capital Advisors Stephen Wall Mungo Guy-Vaughan Hamlet Marc Bussell Lea Espanta John Marcus Pangilinan Jamie Keen Mark Yeo Tee Shen, CAIA, FRM Urs Bolt 博尔特 April Rudin Alois Pirker Efi Pylarinou Beth Goldstein Phil Watson Kendrick Wakeman, CFA Pamela Cytron Nat Clarkson Dr. Ingo Rauser Keith MacDonald Sharmil Patwa Ian Max Ewart Ian Woodhouse Steve Dyson Jasmine Willis Michael Walford-Grant Dean Casey Ned Phillips Romain FARAUT, CIWM, FRM, CAIA Frederic Le Bouar Simon Bousquet Jean-Philippe Bersier Aurélie Schneider Totin Amy DeTolla Ranjit S Samra Kerry Ryan, CPWA® Vibhaw Arya Julia C. Carreon Philip Jacquet-Francillon Ronald Diamond Eric Esfahanian Raghid (Ray) Nami Nayan Madhamshettiwar Emily Traxler Bill Davaris Grayson Greer Craig Schachter Anneke Stender Tessa Surcouf

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