The report is an update of the January 2009 report, Efficiency in Wealth Management: Increasing Advisor Mobility.
According to the new survey, the wealth managers (or financial advisors) are slowly shifting from standard mobiles to smartphones and tablet devices for accessing business applications.
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"Wealth management firms are clearly late to the game, and most firms still struggle to define a fitting mobile strategy," says Alois Pirker, research director with Aite Group and author of this report.
"At a time when switching firms has become a frequent occurrence for financial advisors, wealth management firms must be sure to understand advisors’ technological needs in order to retain valued producers."
The new mobile tech-laden clients want its wealth managers to keep pace with them and have the information such as prospect data, market information and, portfolio and performance details at the push of a button and not locked up in the office.
The wealth management firms are adopting the "on the go" attitude and trying to developing mobile strategies and are accessing applications that they should addopt and which mobile platforms should be supported.
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