War, cost-of-living crisis and customer demand for best-practice digital experience have accelerated innovation in the investment sector. Many wealth management firms are now spending more on technology than most other areas of their businesses, making tech the most important aspect of managing and growing a wealth management firm.
The new WealthTech100 list aims to highlight the tech innovation leaders in the industry and which business models will have a lasting impact. While the selection process is difficult every year, with the context of the market, deciding the 100 finalists proved even tougher.
The industry-leading list required a panel of analysts and experts to vote upon a list of over 1,200 businesses. Research on these companies was compiled by FinTech Global. The finalists were selected based on their innovative use of technology to solve a significant industry problem, or to generate efficiency improvements across the investment value chain.
FinTech Global director Richard Sachar said:
“At a time when not even the giants like Silicon Valley Bank and Credit Suisse are safe, it is vital banks and investment firms have the best technology behind them. On top of this, customers are demanding better and more streamlined engagements, and are more than happy to switch to a provider that offers this. This WealthTech100 list will equip senior-level leaders in financial institutions with detailed information on some of the most innovative companies in WealthTech.”
Daniel Rodwell, CEO, GrowthInvest says:
“We are delighted to be included in the WealthTech 100 once again for 2022, and to be recognised for our approach and work over the last 4 years in helping drive change and innovation into the world of alternative investments. We passionately believe that alternative asset classes are an essential part of a diversified investment portfolio, and should be accessible, efficient, and transparent to both investors and advisers across the globe.”
He adds;
“We continue to see a dramatic acceleration in technology adoption within the adviser market. Coupled with this is the ever-increasing importance of tax efficient and private investments to advisers and their clients, which continues to drive our growth as the market leader in this space. We continue to experience significant growth in both adviser usage of our platform and Assets Under Administration. We are sure that our inclusion in the WealthTech 100 again this year will provide us with additional visibility to new clients who require a solution that enables them to scale their tax-efficient and private market advice proposition efficiently.”
A full list of the WealthTech100 and detailed information about each company is available to download for free at www.WealthTech100.com.
View the WealthTech 100 2023 report here.