Wealth management IT spend on the rise

According to new research by market analysis firm Datamonitor, the total spend by financial services firms on front-to-back office wealth management technology is set to reach $28.5 billion by 2012. Datamonitor says such firms are increasing their investment in technology to cope with market regulations and stay competitive. Opportunities for technology vendors extend to retail banks, insurance providers, independent financial advisors, retail asset managers, and retail brokerage houses as w