aixigo was listed as a representative solution provider of portfolio management software in Gartner's new report Integrate Advisor-Supporting Wealth Management Technologies Into Digital Platforms to Accelerate Adoption (March 2021). Along with the challenges of introducing new technologies into wealth management firms, the report provides an overview of different types of wealth management technologies, explains how they support advisers in their work, and provides examples of representative solution providers for each technology.
Gartner argues that there are two main pain points on the road to digital transformation for wealth management firms when adopting a new technology: First, properly integrating the technology into existing and future systems, and second, adviser acceptance and adoption of the new technology. Both of these factors can jeopardize revenue growth. It is therefore imperative that new solutions are not acquired on a very case-specific basis, but represent an ideal complement to the existing infrastructure and are adequately integrated therein. Such a holistic approach increases the advisers' adoption and success. Integration of the solution and the required data can be realised seamlessly using API technology. This results in eliminating the need to re-enter similar information in multiple systems. Data can be shared between solutions and become usable for advanced analytics and future needs. This is the only way to truly improve the adviser's workflow. The adviser saves time, gains free capacity and benefits from improved interaction with the customer. This seamless integration into existing systems and the resulting gain in efficiency ultimately also increases the adviser's acceptance of the technology and the speed with which they successfully integrates the new solution into their work. Besides cost savings, improved efficiency and increased revenue, the benefits of successful technology integration also include the reduction of operational risks and the automated adherence to compliance regulations.
According to Gartner, portfolio management software, which is used to monitor and manage customer portfolios, continues to play a crucial role in the adviser's day-to-day business and will remain relevant for them in the future. Even if they position themselves as holistic asset managers in the future, they will most likely still need to construct, rebalance and adjust portfolios. Gartner suggests aixigo as a provider of effective technologies in this domain.
The full report can be found at Gartner.
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