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Beverly Chandler, Opalesque London: Celent’s report The European Wealth Management Market: Strategies and Technology in 2012 finds that wealth managers are re-evaluating their offerings to their clients, partly because of the financial crisis and partly because of the emergence of a more sophisticated client group. Celent says: "Wealth management has become a priority for many financial services organizations in Europe as investment banking and other operating divisions become less profitable. Technology providers see opportunities and are increasing their activity by offering a vast array of solutions.

Key findings in the Celent report include:

• Client segmentation and management methods, delivery channels, and investor product selection are all undergoing changes as wealth managers evaluate their service offerings.
• Web 2.0 and mobile technologies are enabling more self-service tools for investors and adding delivery channels for wealth managers. These technologies, combined with the advent of social media and changes in investor sentiment toward user-generated advice, may revolutionize the way advisors communicate and deliver advice.
• Consumers are putting less faith in their banks and advisors to manage their wealth. Investors are more likely to trust themselves than banks or wealth managers.
• Financial institutions are taking advantage of consolidati......................

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