Product Type: Market Research Report
Published by: TowerGroup
Published: September 2006
Product Code: R301-1178Description Twenty years ago, the cellular telephone was a symbol of success, a sign that the owner needed to be accessible 24 hours a day 7 days a week. Today, even discarded handheld devices are refurbished for deployment to the deserts of Africa and the rainforests of South America. After the Internet, virtual private networks (VPNs), and FedEx, no other technology has made the workforce more mobile than cell phones. This TowerGroup Research Note provides an introduction to the use of wireless applications and devices in the brokerage and wealth management industry. It examines the current state of mobility in the advisor channel and offers a look at the market potential for further adoption.
Table of Contents
- TowerGroup Take-Aways
- Report Coverage
- Background
- A Vision of Mobility in the Advisor Channel
- Mobility Drivers
- Changing Value Proposition
- Enhanced Customer-Facing Capability
- Process Improvements
- Client Acquisition
- Client Retention
- Network Infrastructure Improvements
- Advisor Retention
- Consumer Electronics
- Exhibit 1 US Brokerages' Patterns for Deploying Mobile Devices (2006)
- Security
- Mobile Devices in the Retail Advisor Channel
- Exhibit 2 US Retail Brokerage Advisors' Use of Mobile Voice Programs (2006)
- Challenges and Opportunities for Mobile Deployment
- Cost
- Exhibit 3 US Retail Brokerages' Spending on Mobile Devices for Advisors (2005-11P)
- Compliance
- Security
- Device Selection and Support
- Standards
- Legacy Extension
- Application Development
- Business Governance
- Implications for the Broker-Dealer
- Infrastructure
- Deployment Goals
- Cost Justifications
- Summary
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