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A Leading Wealth Management Firm

Building a Faster Contextual Search Experience

Providing faster, more relevant search results for wealth advisors.

A Leading Wealth Management Firm wanted to improve operational efficiency, reduce total cost of ownership and, perhaps most critically, improve the user experience for its advisors. For this, it needed a new platform with advanced search functionality to replace its existing monolith system.

The Imperative for Change

The company needed a new, future-proof wealth management platform that would scale with the business. And they needed the platform to be up and running in six to eight months.

A key requirement was a class-leading search experience. Search is the most frequently used functionality of wealth management platforms, and with Google setting expectations for speed, the client wanted millisecond-fast search response times with ranked results. 

The Transformative Solution

To enable a fast time-to-market, we looked for an out-of-the-box solution featuring open-source industry-standard functionalities to avoid vendor lock-in.

We chose Elastic Stack, an industry-standard solution already used by Walmart, eBay, and T-Mobile. The experience layer was built in Kibana while the search layer was provided by Elastic Indexes, with document-level security via X-Pack.

Data ingestion was the biggest challenge—we needed to ingest data from a variety of sources and make it available to the user in near real-time. For this, we used Beats for logs, alongside Logstash for ingestion of business-related objects including advisor and client data.

For security, we hosted the solution on-premise using Elastic Cloud Enterprise—a future-proof solution that enables easy upgrades.

The Business Impact

The platform was delivered on time and within budget. Since launch, the new search functionality has reduced search response times by 80% across the platform—a significant improvement in usability.

The business has also enrolled more than 20,000 advisors on to the platform, with 90% of advisors rating search as their favored functionality to access other capabilities.

20K+
advisors using the platform
80%
improvement in search response times
90%
of advisors use search to access various functional capabilities
Ankur Kumar
Ankur Kumar
Senior Director Technology