Ashley Globerman

About Ashley Globerman

Ashley Globerman is an analyst with Celent's Wealth Management practice and is based in the firm's London office. Her research spans the North American and European wealth management markets with a focus on digital strategies and innovation for the self-directed and retail brokerage segments.

Ashley has been quoted in the press, including eFinancialNews, WealthBriefing.com, Private Asset Management (PAM) magazine, and Global Custody.

Prior to joining Celent, she was based in New York and worked for Credit Suisse Asset Management as a Junior Account Manager on the institutional sales and consultant coverage teams for North America.

Previously, Ashley worked for Lyxor Asset Management as an Analyst on the operational due diligence team, which was responsible for evaluating the overall risk of the platform’s hedge fund managers while working closely with legal, risk, marketing, and sales teams.

Ashley received her BSBA in Business Management and a minor in French from Bucknell University. She holds her Series 7 and 63 licenses.

Celent’s Innovation and Insight Day: Wealth and Asset Management Stream

Celent’s Innovation and Insight Day: Wealth and Asset Management Stream

We are only weeks away from Celent's 2017 Innovation and Insight Day where we will explore how players in the financial services market are leveraging technology in innovative ways in order to differentiate themselves in an increasingly competitive and challenging marketplace. We will be featuring a number of case studies, discussions, and deep-dives into topic areas surrounding innovation and focusing on themes, such as:

  • Customer Experience
  • Products
  • Emerging Innovation
  • Operation and Risk
  • Legacy Transformation

This is the first year we will have a Wealth and Asset Management (WAM) breakout session where we will cover a range of topics around innovative solutions and trends in WAM.  The agenda can be found here: Wealth and Asset Management (WAM) Program and will be presented by analysts from the Celent Securities & Investments and Wealth & Asset Management teams:

  • David Easthope, Senior Vice President, Securities & Investments
  • Brad Bailey, Research Director, Securities & Investments
  • Kelley Byrnes, Analyst, Wealth & Asset Management
  • John Dwyer, Senior Analyst, Securities & Investments
  • Ashley Globerman, Analyst, Wealth & Asset Management
  • Arin Ray, Analyst, Securities & Investments
  • William Trout, Senior Analyst, Wealth Management
  • James Wolstenholme, Senior Analyst, Wealth & Asset Management

I particularly look forward to sharing research around the evolving wealth management landscape as the core client base shifts from baby boomers to millennials. While much ground has been covered from the perspective of wealth managers to meet the digital needs of nextgen clients, wealth managers continue to be behind the curve in their digital offerings.

How are wealth managers and vendors responding to the paradigm shift in the development and execution of services and products to meet millennials’ distinct expectations?

This is just one example of the many topics that we will discuss at I&I day – we hope to see you there!

 

FinTechStage Luxembourg

FinTechStage Luxembourg

This week I attended the conference, FinTechStage Luxembourg, which brings together FinTech start-ups, investors, financial institutions, technology partners, and regulators to discuss the evolving financial market ecosystem. Some of the key takeaways from the day-long discussion among industry experts included:

  • Luxembourg is aiming to attract UK FinTechs post-Brexit by becoming a hub to access the EU
  • Artificial intelligence
  • Digital identities
  • Banking the underbanked in developed countries
  • RegTech
  • Data protection

For the purpose of this blog post, I will focus on the RegTech component of the conference as that subject stood out to me as one of the more thought-provoking topics as the financial services industry transitions into a technology industry and the effect this has on the entire value chain across all industry players. Lázaro Campos, co-founder of FinTechStage, introduced RegTech (and RiskTech) as "recent risk-centric regulations require firms to be more coordinated and streamlined in terms of information production and delivery for trading, risk, compliance, and financial reporting".  One of the major points within this theme was that the application of new technologies will aid in making processes more efficient, and importantly, democratise opportunities by opening the market to previously unprofitable and underbanked client segments. 

While "incumbents and technology vendors have invested in regulatory solutions for years, the theme of RegTech is an interesting investment theme that has emerged over the past year and has since become mainstream" (Matteo Rizzi, co-founder of FinTechStage). It was made clear that regulators are as encumbered with the increase in regulations as are financial market players. 

Nadia Manzari, Head of Innovation, Payments, Markets Infrastructure and Governance for the Commission de Surveillance du Secteur Financier, commented that regulators need to be innovative in order to foster a healthy FinTech ecosystem. The subject of FinTech sandboxes was at the heart of much of the discussion – does each regulator need to offer such an environment? Regulators from the UK, Singapore, Hong Kong, Malaysia, Indonesia, Australia, and Thailand have been coming forth with plans to establish FinTech sandboxes, which enable financial institutions and start-ups to experiment with financial technology solutions that may not yet comply with new regulations. The benefits of sandboxes (versus piloting, for example) emerged as a debatable topic, but it is evident that regulators' evolving perspective on FinTech is indicative of a larger theme that is occurring in the regulatory space: the centralised banking system with which we are familiar will change in the near future.

Wealth management trends 2015

Wealth management trends 2015
What are the top trends facing the wealth management industry in 2015?  Celent explores this question along with the areas in which wealth managers and vendors are lagging and/or missing opportunities to position themselves for long-term growth. The main trends highlighted in the report include:
  • Realignment of the wealth management business.
  • Ongoing disruption of advisor-based model.
  • Next-gen clients arising.
  • Digitization and channel expansion.
  • Creating efficiencies with platform consolidation and middle/back office improvements.
  • Increasing focus on advisor and end user tools.
  • Mutualization of costs.
The wealth management industry has traditionally taken a “wait and see” approach to implementing technology for fear of weakening their advisors’ value proposition. However, Celent firmly believes that wealth managers must begin taking bolder stances when it comes to new technologies, or risk being left behind. Read more here: http://celent.com/reports/wealth-management-trends-2015    

2015 trends in the CRM market

2015 trends in the CRM market
Celent conducted a study beginning in February 2015 on the European and North American CRM markets for wealth management. These reports examines the leading vendors in the CRM for wealth management market and provides detailed profiles of each vendor, followed by comparisons and rankings using the Celent ABCD Vendor View, which shows at a glance the relative position of vendors in the following categories: Advanced Technology, Breadth of Functionality, Customer Base, and Depth of Client Services on two separate X/Y scales. This report names the winners of the XCelent Awards for CRM systems. Ranking the CRM Technology Vendors for Wealth Management: An Overview of the European Market Ranking the CRM Technology Vendors for Wealth Management: An Overview of the North American Market As part of our ongoing coverage of wealth management, Celent has identified the following trends impacting the wealth management CRM market:
  • Streamlined and improved system usability
  • Improved customer service
  • Spending on CRM systems continues to grow
  • Growing demand for customization
  • Increased focus on self-service
  • Robust mobile and tablet features
  • Social media integration
  • Increased partnerships
   

Webinar Replay: The #NextGen Investor: Preferences, Behaviors, and Technology Adoption

Webinar Replay: The #NextGen Investor: Preferences, Behaviors, and Technology Adoption
How can wealth managers capture the next wave of clients in light of a shift in the core client base, dynamic client expectations, stringent regulations, and emerging technology? Celent clients can catch the replay to the latest Celent WM webinar here: http://celent.com/node/33745 This webinar is based on the following reports: Finance Meets Fashion: Wearables in Wealth Management Effectively Serving the Mass Affluent Beyond Budgeting: The New Generation of Personal Finance Tools NextGen Investors: Targeting the Millennial Generation Social Trading  

Finance meets fashion: #wearables in wealth management

Finance meets fashion: #wearables in wealth management
In my upcoming report, due out in the next several days, I take a look at wearable technology and the wealth management industry. What is wearable technology? Who are the possible users of wearable technology in the wealth management industry? What is the future for wearables in wealth management? Wearable technology is quickly gaining interest and momentum among consumers and enterprises. Wearables are digital devices that can be worn on the body (i.e., glasses, watches, cameras, clips), can be controlled with minimal manual input, and offer real time access to and the collection of data. This data can ultimately be used to influence real world decisions and behavior; wearables have the potential to alter the way we go about our daily lives. Wearables span multiple categories, including, but not limited to health, finance, and lifestyle. Achieving the “quantitative self” has never been easier. In this report, Celent will explore the role of wearables in wealth management and assess if wearables have the potential to move beyond the mass affluent and serve the HNW by, for example, integrating with an advisor’s CRM system.  Celent will provide an overview of the wearables market, examine the drivers for adoption, study the potential impact of wearables on the retail investor and wealth managers, and conclude with a prospective look on wearables in the wealth management industry.  

Newfound financial freedom: pension reform update – what about the mass affluent?

Newfound financial freedom: pension reform update – what about the mass affluent?
Today I had the pleasure of attending the Wealth Briefing Summit held at the prestigious Guildhall Art Gallery in London.   The event consisted of 3 sessions and was led by a panel of industry experts who conversed about some of the most pertinent topics facing the UK wealth management industry today: pension reform,  digital solutions, and personalized portfolio construction. While each of these sessions were of interest to me, I found the pension reform “debate” (in quotes as this was much more civilized than the recent PM election debates have been) particularly intriguing. Clearly, one of the solutions to navigating through the new pension rules will be advice from a wealth manager. But, as we know, not everyone wants this advice or can afford this advice. So what are the mass affluent going to do? This was a question raised by an audience member (and a fair one at that). After all, everyone is entitled to a pension and will presumably need some form of guidance in light of the reforms.  I was surprised that not one of the panel members mentioned the idea of automated investment advisors; Nutmeg and insurers (who have created their own automated investment platform) have entered into the pension space. It’s a good thing we’re here (see our wealth management reports) …anyway, I digress. Perhaps this is an indication that automated investment advisors have barely tapped into the UK wealth management market, or could it be that the panelists’ firms are building their own robo advisor solutions, but are keeping this under wraps for the time being? Or, maybe traditional wealth managers are so out of touch with the mass affluent (we know this to be slightly true), that this question hadn’t occurred to them previously? This is a thought-provoking topic in my opinion, and one that I look to explore further in an upcoming report about the UK retirement market.    

The latest report from WM: Effectively Serving the Mass Affluent

The latest report from WM: Effectively Serving the Mass Affluent
Wealth managers today face the question of how to effectively capture and retain the next generation clients, who are, for the most part, in the mass market (MM) or mass affluent (MA) investor segments and part of Generation X and Y. In this report Effective Serving the Mass Affluent, we address the questions:
  1. What does the mass affluent customer segment look like today?
  2. How will the role of the advisor evolve?
  3. How can wealth managers capture the mass affluent market?
Technology and customer segmentation will be key drivers in successfully capturing the mass affluent market. Robust digital strategies, the digitization of processes and data, flexible investment architectures, and tailoring products and services based on specific client classifications will enable firms to acquire this customer segment. Click here for more about this report    

Retail investor trading in the US: perspectives on trading preferences and behaviors

Retail investor trading in the US: perspectives on trading preferences and behaviors
Celent conducted a survey of retail investors across the United States to better understand this segment of the wealth management industry. In this report, we answer:
  • What is the average profile of the retail investor in the US?
  • How have retail investors’ product preferences evolved over time?
  • How can firms capture and retain new and existing retail clients?
The aim of the report is to present a detailed picture of the online trading industry in the US from the perspective of the retail investor. Celent will conclude by stating its findings and making recommendations as to where wealth managers should potentially focus in the near term to capture retail investors. “The global financial markets, traditionally reserved for professional traders, are accessible to retail investors across all demographics and trading experience levels,” says Ashley Globerman, an analyst with Celent’s Wealth Management practice and coauthor of the report. “The profile and demands of retail investors, particularly those of self-directed investors, have evolved greatly over time.” The survey gauges their demographics, investing and trading behavior, product and service preferences, and technology adoption. The pool of survey participants ranges across all trading levels and demographics, such as age, gender, marital status, number of dependent children, and education and affluence levels. Some of the main findings of this survey are as follows:
  • The growth rate of self-directed investors continues to outpace that of non-self-directed investors.
  • Asset class preferences have changed slightly since Celent’s 2012 retail investor survey.
  • Dynamic client expectations continue to shape the wealth management industry.
  • There is investor demand for peripheral services outside of trading.
“As the wealth management industry and demands of retail investors continue to evolve, the importance of segmenting customers and adapting products and services based on their needs is increasingly critical in order for firms to remain competitive and gain broader market share,” says Isabella Fonseca, a research director with Celent’s Wealth Management practice and coauthor of the report.    

Newfound financial freedom – pension reform in the UK

Newfound financial freedom – pension reform in the UK
The UK pension industry will undergo significant regulatory changes in a few weeks’ time. From 6th April, millions of savers aged 55 years old will be permitted to take the cash from their pensions and will no longer be herded into buying annuity products.  Historically, savers had the freedom to take 25% of their pension in a tax-free lump sum, then were encouraged to buy an annuity with the remaining 75%.  However, pension reforms will now enable savers over the age of 55 to take out smaller lump sums (in each case 25% of the sum will be tax-free). The government has also changed rules around the 55% inheritance tax rate. What are the implications of this newly instituted “financial freedom” that impacts millions of Britons?  This historic change will bring about opportunities and challenges to the investment management industry and raise questions among retirees about tax consequences, suitable products and fees, life expectancy calculations, and wealth transfer and estate administration, for example. While these liberties provide retirees with control over their financial destiny, one must ask if they are adequately prepared to make the critical investment decisions that will impact the rest of their lives, as well as that of their heirs. Who is poised to help them? Perhaps this an opportunity for automated investment advisors and traditional investment managers to join forces (Nutmeg’s recent entrance into the pension space & “Retiready” from Aegon both come to mind).