Advisors seeking better client communication tools are likely to have their wish come true, according to a new report from Celent, a Boston-based financial research and consulting firm. The wealth managers surveyed in the report indicated that they are likely to add or enhance client-relationship management systems and client-reporting and client-facing technology tools within the next two years.

Advisors want to communicate better with clients, said Alexander Camargo, an analyst at Celent and co-author of the report on wealth management IT spending. “The new tools being developed allow advisors to gain insight into clients” and achieve a better picture of their wealth, he said in an interview. “The technology is improving tremendously,” Camargo added, providing “an opportunity for advisors to give clients more buy-in” and present information in a “new and dynamic way.”

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