Wealth Management Business Capabilities Model
$999 – $2,999
Wealth Management Business Capabilities Model: The advent of digital technologies and the competition from Fintechs is reshaping the wealth management field. Most wealth managers embark on ambitious transformation programs to remake their business models and product portfolio. The Wealth Management business capabilities model will be a foundation to drive technology enablement and enterprise transformation decisions. The wealth advisory capabilities matrix comprises 630 capabilities across three levels.
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The Wealth Management Industry is Changing – Fast:
Wealth management firms are facing significant internal and external challenges that necessitate transformation. The internal challenges include legacy technology systems, siloed business units, inefficient processes, and talent shortages. External drivers include changing client expectations, regulatory requirements, and increased competition from digital disruptors. As a result, wealth management firms must adapt and transform their business models to meet these challenges and stay competitive.
Many firms are turning to technology to transform their business operations and improve the client experience. For example, digital transformation efforts can help wealth management firms streamline operations, automate processes, and provide clients with more personalized and efficient services.
Challenges in Wealth Transformation Efforts:
While the need for transformation is clear, many wealth management firms struggle to implement successful transformation efforts. There are several reasons why transformation efforts fail or fall short. One common reason is a lack of alignment between business strategy and technology investments. As a result, firms may invest in new technology without clearly understanding how it will support their business goals.
Another challenge is resistance to change from employees. Transformation efforts can disrupt established workflows and require new skills, which can be difficult for employees to accept. This resistance can slow down the transformation process or prevent it from being successful altogether.
Inadequate planning and execution can also lead to transformation failures. Firms may lack a clear roadmap or fail to allocate sufficient resources to support the transformation effort. Successful wealth management transformation efforts require a clear understanding of business goals, careful planning and execution, and effective change management and communication.
To ensure successful wealth management transformation programs, business architecture can help create a structural blueprint for a shared understanding between all stakeholders. Wealth Management Business Capabilities can capture the essence of what the business does structurally and foundationally.
Wealth Management Capabilities Model Overview:
CIOPages.com Wealth Management Business Capabilities Model is a pre-built and customizable list of capabilities for a firm that plans, invests, and manages money for its clients. It is an integrated and in-depth artifact and captures the essence of all critical functions of a Wealth Management firm. The wealth advisory capabilities matrix comprises 630 capabilities across three levels.
The Wealth Management capabilities map includes the following formats:
- An Excel spreadsheet with the list of Wealth Management capabilities.
- A PowerPoint format with the top two levels in a nested visualization.
- A Word document with capabilities in a multilevel list format.
- Capability Definitions (Level 3)
- Capability KPIs (Level 2)
BONUSES: Several bonus documents about capability modeling and business architecture.
How to use the Wealth Management Business Capabilities Model?
The Wealth Management capability model is a must-have tool for business and enterprise architects to jumpstart capability modeling and business architecture efforts.
The CIOPages Wealth Management, business capabilities model encapsulates end-to-end aspects of the function of a Wealth Management firm in a comprehensive, multilevel list.
There are several benefits from business capabilities, including, among others:
- Capabilities function as a common language between business and technology teams.
- Capabilities are an abstraction of business functions and flows that are stable and long-lasting.
- A capability-based roadmap helps focus on capability evolution rather than project execution.
- The relationship between capabilities and systems/applications provides a footprint analysis and can lead to better application portfolio rationalization decisions.
The Wealth Management capabilities model results from the combined efforts of business architects, Wealth Management domain experts, and enterprise architects. The Wealth Management capabilities list strives to be mutually exclusive, collectively exhaustive, and individually a whole.
Additional Bonus Deliverables offered FREE of Charge:
FREE BONUS Deliverables
General Intro to Capability Modeling
Business Architecture Framework
Business Capability Profile Template
Capability Assessment Template - Criteria and Notes
Role and Responsibilities of Business Architecture Leader
- The CIOPages.com Wealth Management business capabilities model is a digital product with no returns or refunds.
- A generic capabilities model may or may not fit your needs, or the percentage of which capabilities are relevant will vary widely.
- Sold on an as-is basis and without any implied or explicit warranties
- Consultants and firms wanting to use it for their clients have a different pricing model.
- The sale is for the model only and does not include customization or implementation help.
- Please review our standard terms of service.
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What are Business Capabilities?
Business Capabilities describe “What” a business does. Business capabilities are the foundational building blocks in business architecture as they are the solid components and stable entities to model a company.
What is the value of a Business Capabilities Model?
- A well-structured business capability model aligns business and technology.
- A company-wide capabilities matrix provides a common language that bridges the traditional gap between business and IT teams.
- A granular capability model (not too high level) allows for mapping to technology components to understand the functional sufficiency and footprint of applications to meet business needs.
- A company-wide capabilities assessment concerning strategic importance, underlying process maturity, adequacy of resourcing, and level of technology enablement paints a vivid picture of the state of the enterprise.
- Requirements backlog anchored to a capability helps companies focus on capability evolution, not siloed project execution.
- Using capabilities as Lego blocks, business owners and product managers can communicate their needs better to allow for optimal technology enablement.
- A detailed capabilities list with logical clusters of related functionality helps vendor evaluation and selection.
- A capability view helps you identify conflicts, overlaps, and redundancies and zero in on the weak areas to develop a roadmap to evolve the capabilities.
Will a generic business capabilities map fit our unique needs?
CIOPages.com business capability maps aim to meet or beat a threshold of 75-80% relevance. However, there is always that 20-25% that may need to be modified and customized to capture the unique essence of your enterprise. Also, having a pre-built capability reference model helps in a) not missing out on the core and distinct business capabilities and b) spending 80% of your time on the 20% of the capabilities that make you who you are!
But I’ve seen this entire Capability Map depicted as a few boxes. Why so many Capabilities?
The problem with some of the mickey-mouse capability maps is that they are too high level and are nothing more than a few boxes and arrows that can become Wall Art.
For a capability to link strategy to execution and to bring about functional enablement at a feature/function level, a well-structured and deeply-decomposed business capability map is essential.
Managing hundreds of capabilities – writing capability profiles, assessing the capabilities, conducting a gap analysis between the desired state and current state of company capabilities, and anchoring backlog items to capabilities – is a complex task.
Can you help us customize the business capabilities model to our enterprise needs?
We are glad you asked! Yes, of course. Our domain and functional experts can contribute by taking these sample business capabilities models and customizing them to your needs.
The work will be fast, efficient, and practical with a full-fledged capability reference model as an accelerator.
Contact us for Advisory/Consulting Services.
Why should I pay?
The domain knowledge and intellect that went into constructing the capability models are very high. The cost is less than 3 hours of the time of a low-priced consultant. Or perhaps the price of pizza lunch for the team to brainstorm and whiteboard the enterprise business capabilities model.
Consider the ROI: B) The hours of work a pre-built capability map will save your team instead of working on it from scratch. B) The time saved due to the straw model covering 75-80% of your needs. And c) focusing on what makes you unique rather than working on the entire list of corporate capabilities.
Wealth Management Business Capabilities Model
$999 – $2,999
We keep the licensing options – clean and straightforward.
Individual License: Where we offer an individual license, you can use the deliverable for personal use. You pay only once for using the deliverable forever. You are entitled any new updates within 12 months.
Enterprise License: If you are representing a company, irrespective of size, and intend to use the deliverables as a part of your enterprise transformation, the enterprise license is applicable in your situation. You pay only once for using the deliverable forever. You are entitled any new updates within 12 months.
Consultancy License: A consulting or professional services or IT services company that intends to use the deliverables for their client work need to pay the consultancy license fee. You pay only once for using the deliverable forever. You are entitled any new updates within 12 months.
Can I see a Sample Deliverable?
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Can I share or sell the deliverables with anyone?
You can share the deliverables within a company for proper use. You cannot share the deliverables outside your company. Selling or giving away free is prohibited, as well.
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Not generally. Compared to our professional services fee, the price of our products is a fraction of what we charge for custom work. Hence, our business model does not support pre-sales support.
Do you offer orientation or support to understand and use your deliverables?
Yes, for a separate fee. You can hire our consultants for remote help and in some cases for onsite assistance. Please Contact Us.