The market for wealth management solutions continues to grow. As financial institutions formulate wealth management strategies, a number of challenges can be found along the way, including integrating applications and systems within a wealth management framework, selecting the appropriate solution provider, choosing the best deployment option, obtaining the most accurate data, and complying with new regulations.

According to Wikipedia; the term Internet of Things was proposed by Kevin Ashton in 1999, a British technology pioneer who cofounded the Auto-ID Center at the Massachusetts Institute of Technology (MIT), which created a global standard system for RFID (Radio-frequency identification) and other sensors. The concept is based on the fact that as more objects are becoming embedded with sensors and gaining the ability to communicate. This will result in widespread information networks which will create new business models, improve existing business processes, and potentially reduce costs and risks.

There has been a lot written about data analytics in the recent years. A revolution has certainly begun but what are the affects to corporations and consumers across industries. One cannot address the topic of data analytics without first considering the privacy concerns of clients and consumers.

There is some concern that the emergence of “robo-advisors” may pose a competitive disadvantage and will ultimately change the playing field for more traditional advisors as millennials in particular; will tend to choose more technology-centric services that directly connect investors with suites of analytic tools to create financial plans over traditional advisory practices.

The new priority in innovation for Wealth Management firms is clearly Big data analytics. In the Capital markets industry firms process and produce considerable amounts of digital data in real time on a daily basis. This creates opportunities for broker-dealers, asset managers, custodians and hedge funds.

Beijing; China, has already produced fast-growing tech companies, like Tencent, Baidu, LightInTheBox and, smartphone maker Xiaomi. Beijing has a great concentration of wealth and as of date sixty eight institutions of higher learning, including China’s best computer science departments. These firms have a clear understanding of the Chinese market and are able to steer through policies that have made it difficult for some U.S. firms to do business.