The study revealed that six out of 40 top wealth managers have developed their own mobile apps for their client’s smartphones and tablet computers.
The demand is attributed to the rapid spread of mobile technology and Celent predicts that the total number of smartphones worldwide will grow 35% to 620 million.
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Bill Fearnley, a senior analyst with Celent, said wealth managers need to make sure that their apps meet their customers’ needs and ensure that they are compliant and secure.
According to the study, most firms provide apps that give clients access to account information; many others also provide trading tools.
Celent expects more wealth managers to embrace these technologies so as to compete with brokers and other wealth managers.
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