Strategic Technology Planning for Wealth and Asset Management 

Executive Summary

  • Wealth and asset management businesses need a technology strategy that can cope with the changing market demands, regulations, and competition.

  • We offer a two-dimensional approach to strategic technology planning, based on functional strategy and core technology strategy, and supported by a business capability mapping exercise. 

  • We follow a four-phase methodology for strategic technology planning, consisting of discovery, analysis, design, and implementation, and involving various activities, deliverables, and checkpoints. 

  • A strategic technology planning project can help wealth and asset management businesses achieve a clear and coherent technology strategy, a comprehensive and meaningful business capability map, a target state vision, architecture, and roadmap, a successful delivery and adoption of the technology solutions, and a measurable improvement in their technology ecosystem, capabilities, and performance. 

The Challenge

Wealth and asset management businesses face increasing challenges in today's dynamic and competitive market. Clients demand more personalized and convenient services, regulators impose stricter compliance and privacy requirements, and competitors leverage new technologies to gain an edge. To succeed in this environment, wealth and asset management businesses need a clear and coherent technology strategy that aligns with their business objectives, delivers value to their clients and advisors, and optimizes their operational efficiency and resilience. 

Expected Outcomes

By engaging with us for a strategic technology planning project, you can expect to achieve the following outcomes: 

  • A clear and coherent technology strategy that aligns with your business objectives, delivers value to your clients and advisors, and optimizes your operational efficiency and resilience. 

  • A comprehensive and meaningful business capability map that provides a holistic and granular view of your current and target state technology landscape, and enables better investment decisions. 

  • A target state vision, architecture, and roadmap that defines the functional and core technology strategies, and prioritizes and sequences the most critical and impactful initiatives. 

  • A successful delivery and adoption of the technology solutions, with project management, change management, and quality assurance support. 

  • A measurable improvement in your technology ecosystem, capabilities, and performance, with enhanced client experience, increased business agility, reduced complexity, and improved reliability. 

Why us?

We have the expertise and experience to help you develop and execute a strategic technology plan that will transform your technology ecosystem, enhance your functional capabilities, and improve your core technology operations. We have worked with leading wealth and asset management businesses across the globe, to deliver innovative and impactful technology solutions that drive business performance and client satisfaction.

Our Approach

  • Our approach to strategic technology planning is based on two key dimensions: functional strategy and core technology strategy. These dimensions are linked by a business capability mapping exercise, which provides a comprehensive and meaningful view of your current and target state technology landscape. Our approach is illustrated in the following diagram: 

  • We will work closely with you to understand your business strategy, objectives, and challenges, and to assess your current technology ecosystem, capabilities, and performance. We will then design your target state vision, architecture, and roadmap, and help you prioritize and execute the most critical and impactful initiatives. We will also provide ongoing support and guidance to ensure the successful delivery and adoption of the technology solutions. 

Case Study: A strategy refresh for a large, global, wealth management business

As an example of our expertise and experience in strategic technology planning, we would like to share some of the highlights and learnings from our recent technology strategy refresh project with a large global Wealth Management business. The business is a leading provider of wealth and asset management services, with a presence in Canada, Latin America, Europe, and Asia. We were engaged us to help them refresh their technology strategy, in order to support their business strategy and ambitions, eliminate the complexity, legacy, and overlap that existed in their technology landscape, and improve their technology organization's ability to deliver. 

We followed our proven methodology and approach, and worked closely with business and technology leaders, to deliver a comprehensive and impactful technology strategy refresh. Some of the key outcomes and achievements of the project include: 

  • A business capability map with 200+ level 3 capabilities, aligned with enterprise standards, and mapped to 100+ wealth applications. The map also identified the strategic, differentiating, and core capabilities for the business, and scored the performance on each capability. 

  • A target state vision and a 5-year modernization and rationalization plan for the technology ecosystem, covering the functional and core technology strategies. The plan also linked the project spend to the business capability map, to provide insight into the current investments. 

  • A functional strategy that focused on enhancing the digital experience and capabilities for clients and advisors, across the client, advisor, and data domains. The strategy included initiatives such as developing rich digital capabilities for wealth planning, goal tracking, and onboarding, extending the reach of advisors through digital channels, enabling 'always-on' connectivity through modern web and mobile platforms, and improving the data quality and availability across the business. 

  • A core technology strategy that focused on improving the technology organization's ability to deliver, across the technology operations, delivery, and workforce domains. The strategy included initiatives such as enhancing application management with clear performance objectives for application owners, streamlining internal delivery processes, enhancing reporting and dashboards, and increasing the fungibility and flexibility of resources. 

  • A successful implementation of several initiatives defined in the technology strategy refresh, such as launching the advisor desktop, enhancing the mobile app, modernizing the advisor site and upgrading the wealth management platform. 

We are proud of the value and results we delivered, and we are confident that we can replicate and exceed this success for your business. We look forward to discussing this opportunity with you in more detail, and to helping you achieve your technology goals and aspirations.