TOP Wealth Management Platforms 2024: Power Up Your Fintech App

What lacks the majority of software product providers is speed. Fintech companies can’t afford to have compromised operational scalability and consumer reach. That’s why it’s possible to observe the growing demand for wealth management platforms used to automate fintech tasks and help handle finances.

In 2023, the worldwide market for wealth management software was worth about $4.59 billion. Experts predict it will grow at a CAGR of about 12.9% up to 2032.

In this post, you’ll discover what wealth management software is. Besides, you’ll explore the list of top wealth management platforms and find out how they are different from each other.

What Is a Wealth Management Platform?

Top wealth management platforms are several. Affluent customers’ financial requirements are best served by investment advising fintech integration services. The platform employs a consultative method to gather information about the needs and circumstances of the customer, then creates a custom plan that incorporates a variety of financial products and services.

As part of wealth management, several companies use a comprehensive approach. A wide variety of services, including investment advice, estate planning, accounting, retirement, and tax services, may be given to satisfy the requirements of a client. A client’s assets under management determines the cost structure for most complete wealth management software services, however this isn’t always the case (AUM).

Cross-border financial services are one of the most sought-after areas of expertise for the best online wealth management platforms. A wealth manager’s specialty or the major emphasis of the firm in which he or she works may be a factor.

Best Wealth Management Platforms For Financial Institutions

If you’ve specialized in a fintech product development software startup but need the wealth management partner to amplify your business, then the selection below is right for you. 

Choose among the leading product management software tools in 2024.

Third Financial

History: 

Third Financial digital wealth management solution was launched in 2007, and since then, the London-based financial services provider underwent a serious transformation. A major shift occurred in its business model, which was formerly focused only on the development of wealth management software and investing platform components. In 2023, Third Financial’s software and services are trusted by clients to administer over £50 billion of AuA.

Third Financial employs a winning formula with two service lines that complement each other. The company develops software for external clients and utilizes it internally to power the Investment Platform offering. 

As the first users of new releases, Third Financial is continually driven to add innovative features, enhancing the software’s efficiency. This positive feedback loop fuels the company’s commitment to continuous improvement.

Services:

3 main directions of the company’s expertise include the outsourcing of operations to wealth managers, financial advisory services, and portfolio management tools for fintechs. 

In general, Third Financial gives you the missing technology piece to focus on the UX better, while the main job of assets management, pricing model/investment plans development, and trading facilitation is in their hands. In the end, your customers are smoothly onboarded and further supported at a competitive cost through the API means.

Latest news:

In 2023, Third Financial’s revenue increased by 30%. Now, they are thriving with three new business wins.

BRI Wealth Management moved its assets to Third’s platform for ambitious growth plans, while FirstBank UK signed a five-year deal, and GHC Capital Markets renewed their partnership for another five years.

These successes solidify Third’s leadership in the market and support its mission to transform the wealth management platforms and advice sectors.

In addition to wealth management, you may be interested in exploring financial data aggregation and open banking.

Objectway

History:

Objectway is one of the digital wealth management technology platforms founded in 1990, in Milan, Italy. Now the company also has offices in London, Bruxelles, Dublin, Birmingham, and Nantwich, which clearly indicates its wealth and asset management market expansion. 

What’s the secret behind its long existence? Already 30+ years of product innovation. With the help of Objectway, you can enhance your customers’ engagement, raise front-office productivity, and optimize back-office operations. In a nutshell, its motto is “build for the future, perform today,” and you can experience this feeling on your own by integrating your software product with Objectway solutions.

Services:

The range of provider’s business priorities is quite vast: from private, depository, and retail banking up to wealth & asset management, life assurance, and investment. Owing to this, Objectway is characterized by the wide target audience reach, and its technologies help other banking software businesses grow in scale and hold sway over their clients effectively. 

Among their clients, the most notable ones are HSBC, RBC, BNP Paribas, Allianz, Investec, DEPObank, Saxo Bank, and many others. Thus, if you’re in search of your customer base growth, investment tools, legacy compliance, or overall fintech processes automation, Objectway is the right match!

Latest news:

Objectway proved it is one of the leading wealth management solutions by acquiring the Die Software Peter Fitzon GmbH. With this new step, the provider plans to broaden its services repertoire with the high-level Core Banking suite. Further global brand popularization is also anticipated by the experts.

FNZ Platform

History:

FNZ is a tech provider offering cutting-edge tools and robust back-office services for the global financial and wealth management sectors. They provide custom solutions at affordable rates, covering various assets and markets across the globe. This disclosure encompasses the UK, South Africa, Australia, and New Zealand.

Since 2002, FNZ has been a game-changer after breaking away from Credit Suisse New Zealand through a management buy-out. They’ve revolutionized the UK fund platform and actively explored changes in private wealth management. 

With their advanced technology, impressive functionality, and portfolio tools capable of handling 400,000 trades in three minutes, they’re setting the bar high.

Services:

FNZ’s unique strength lies in merging technology, infrastructure, and investment operations into a singular platform. This integration empowers our institutional clients to develop hyper-personalized and innovative products and services seamlessly aligned with the evolving needs of their clients.

The company provides a diverse range of solutions catering to various facets of wealth management, including:

1. Financial planning. Empowering individuals with effective financial strategies.
2. Asset management. Optimizing the management of diverse asset portfolios.
3. Execution, clearing & custody. Ensuring seamless and secure transaction processes.
4. Insurance. Providing comprehensive insurance solutions.
5. Private banking & family office. Tailoring services for high-net-worth clients and family offices.
6. Self-directed. Enabling clients to take control of their investments.
7. Workplace retirement. Supporting employers and employees in planning for retirement.

Within the secure confines of a regulated financial institution, FNZ connects to a vast universe of investment products, providing a robust foundation for financial institutions and wealth managers.

Latest news:

On September 21, 2023, FNZ announced the launch of the FNZ Academy, a global accreditation program aimed at driving innovation in the wealth management industry. The program will enroll over 200 participants in its first year, fast-tracking their careers as tech leaders. 

Focused on specialized training and technical accreditation, the FNZ Academy equips participants with cutting-edge technology skills, positioning them as experts in critical areas such as AI, cybersecurity, and data analytics. This initiative aligns with FNZ’s mission to democratize wealth management and make it more accessible globally. 

Looking for high-tech consulting services? Reach out to DashDevs and let’s discuss opportunities.

Addepar

History: 

Addepar platform was created in 2009, and this California-originated business is still alive thanks to the uninterrupted data management, unlimited scale, and client-centered approach.

All these features were skillfully combined into one single entity, and now the Addepar marketplace is one of the largest in the world if we speak about integrations, invested advisors, family offices, private banks, and broker-dealers. They all benefit from Addepar fintech wealth management software platform either to manage the digital assets or to analyze the financial transactions through the customized reports. 

Whatever your business needs are, Adderpar is ready to help you obtain the full picture of the clients’ wealth and bring relevant recommendations on the go.

Services: 

Among their plenty, integrations are the core of Addepar’s activities, so flexible APIs are waiting for your software product, no matter which system it needs under the hood. The correspondence with the specific legacy requirements and the connected adjustment of workflows are also available here. 

Besides, Addepar supplies you with comprehensive reporting on investment consequences and works as a wealth management solution for your clients. 

The partnership with Castle Financial, Jefferies, Morgan Stanley, and many others also puts a positive light on the brand’s trustworthiness, so you can start by learning their achievements with Addepar so far.

Latest news: 

Addepar has earned the prestigious “Best in Class” title in the 2023 Aite Matrix for RIA Portfolio Management and Reporting Systems. This recognition is based on Addepar’s exceptional performance across various categories, including client feedback, platform features, partnerships, and overall company health. 

Addepar’s integrated technology has proven effective for advisors catering to a diverse range of private clients, offering a cohesive and timely portfolio management solution. 

T-REX

History:

T-REX is a top wealth management online platform that pursues the aim of broadening the finance services boundaries for complex markets. In contrast to the massive despair because of the 2008’s recession aftermath, the New-York-born company turned the tough financial setting into the fertile ground for establishing the new type of infrastructure. 

In particular, in 2012, T-REX made a sensation among the public due to its focus on the non-traditional, riskier markets. Besides, relying on data digitization, process automation, and workflow automation, the provider positioned itself as the expert in the entire investment lifecycle.

Since that time, T-REX has done a lot to strengthen its risk mitigation, sell-and-buy efficiency, and analytical tools. That’s why you can look closer at this company in case you need an advanced SaaS platform.

Services:

The nucleus of T-REX business revolves around enterprise solutions that help businesses quickly and efficiently analyze the market, ease up the investment workflow, and secure the data via smart cloud-based solutions. Thanks to this competitive advantage, the firm partners with such big players as Global Atlantic, Rockwood Group, TWAIN, OakStar Bank, Pacefunding, ING, Mosaic, etc.

Latest news:

T-REX platform positions itself as always ready to build projects of different tax credits complexity. Specifically, its production stress tests allow anticipating the further course of the scenario’s events and modify the assets generation model correspondingly. Sounds inspiring, isn’t it?

Corfinancial

History: 

Launched in 2012, the London-originated financial services software provider has rapidly conquered the UK market as well as the worldwide offices. Today Corfinancial helps global companies to solve software integrations problems in different niches and with multiple vendors and data providers.

Plus, the company makes efforts to advance its R&D direction to preclude future regulatory obstacles, forthcoming market trends, and other possible challenges. 

Finally, social responsibility is also part of Corfinancial’s business model, as its policies stem from such values as trustworthiness, proactiveness, ethics, and integrity. For instance, its ‘green’ energy consumption approach is one of the things to be proud of as not so many wealth management software providers care about this aspect.

Services:

They can be divided into 3 parts: solutions for the product, market, and remote management tools. If we speak about the product, the major service that is delivered by Corfinancial is the BITA risk test — the useful tool for wealth managers and financial advisors to lead the businesses in the right direction.

By the way, in February 2021, Charles Stanley, one of the most powerful wealth investment platforms, decided to leverage the BITA ESG Manager app for its business growth. As for the market, Corfinancial is known for compliance analysis, portfolio/model supervision, client suitability check, and fixed income accounting. 

This brings value not only to the private/community banks but also to investment managers, bank trusts, credit unions, and many other financial institutions. Ultimately, in terms of functionality,

Corfinancial works on post-trade settlement processing, which aids in data analytics, automation, and improved trading UX.

Latest news:

On May 15, 2023, Corfinancial made its SureVu software work smoothly at Man Group, a prominent investment firm with $144.7 billion in assets. SureVu, which appeared in the market in April 2021, is a tool that helps straightforwardly manage trades and fees for companies like Man Group.

They got it set up quickly, showing how useful it is for dealing with regulation changes and getting ready for new ones. They created an intelligent solution, making it easier for companies to handle trades and keep track of essential data.

Elevate your IT systems in place with custom software development services by DashDevs.

Thewealthworks

History: 

The company’s start derives its roots from Handcross, United Kingdom, and the 1995 year. At that moment, it was called Troika — a combination of a family office, an offshore trust, and a corporate trust firm.

Being initially developed as a flexible tech solution, Thewealthworks knows how to deal with the various legal, accounting, and banking frameworks. For the time being, the provider devotes its core attention to the trusts, family offices, and private wealth companies, but that’s not the full list of its clients.

Still, among the worthy names to mention, there are Thomson Reuters, Dataflow, and ARC Software Consultancy.

Services:

Thewealthworks helps solicitors, trust companies, accountants, or private clients to integrate their software products with a unique system that can cut the time on the market by the rapid transactions processing and investment calculations.

Latest news:

The recent years have significantly affected the company’s mode of work, but Thewealthworks shows a sophisticated wealth management approach even there. By switching to remote work from January 2021, the provider has optimized the work processes and found a way to oppose the economic decline.

Final Take

The growing demand for wealth management systems highlights the critical role of fintech in addressing the need for speed, scalability, and extensive consumer reach. With insights into wealth management software, you can now navigate the market and select the best solutions for your financial needs.

To start using top wealth management platforms and integrate them into your fintech, you need external development expertise. Consider partnering with DashDevs, a trusted provider of fintech services. With more than 13 years on the market and 500+ projects successfully delivered, we are ready, willing, and able to contribute to your best project.

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