NICE Actimize Achieves Win at WealthBriefing Awards Amid Advisor Shortage and Growing Wealth Complexity

This week, for the fourth consecutive year, NICE Actimize received the prestigious “Suitability” award from the WealthBriefing/WealthTech Americas Awards 2025. This accolade marks a pivotal moment in the evolving wealth management landscape. According to McKinsey & Company, the industry is currently experiencing a robust growth phase, driven by an increase in American wealth and increasingly complex client needs. Notably, clients are showing a greater willingness to invest in personalized, human-delivered financial advice.

However, the good news is tempered by a significant concern: McKinsey’s research indicates a looming shortfall of 100,000 advisors this year. As the industry faces this workforce challenge, it becomes clear that advanced AI and automation are stepping in as crucial operational solutions, with signs of growth in these areas already emerging.

As Wally Okby, a strategic advisor for Datos Insights’ Wealth Management practice, emphasizes, “Customer needs and expectations continue to evolve, and financial institutions must strive to stay one step ahead. The capabilities and breadth of their product portfolios must extend beyond traditional offerings to tackle new market challenges and seize emerging opportunities.”

NICE Actimize’s Sales Practices & Suitability solution, part of the SURVEIL-X Holistic Surveillance platform, is proving to be an essential tool for wealth management firms navigating these complexities. In a diverse investment landscape, financial institutions must identify sales activity issues and document actions to meet stringent regulatory requirements. This innovative solution offers comprehensive coverage for a wide range of sales practice issues, ensuring that investment recommendations align with each client’s objectives, suitability profiles and are in their best interest.

What sets NICE Actimize apart in this competitive arena? The SURVEIL-X Suitability solution has seen strong adoption over the past year among both mid-sized institutions and large-scale financial services organizations. The ease of deployment, enhanced by cloud technology and reduced costs, has made these solutions critical for wealth management teams.

NICE Actimize focuses on the “know your employee” and behavioral aspects of suitability, providing both short-term and long-term benefits to advisors and management. Firms can leverage these solutions to meet regulatory obligations while managing client abuse risks on a more holistic level, thereby encouraging improved customer relationships and building a robust suitability compliance program.

The solution features a built-in broker risk dashboard, providing an intuitive overview of the risks associated with individual brokers. By automating oversight and supervision, firms can maintain consistency and create a consolidated audit trail, thereby reducing regulatory risks while enhancing productivity. Sophisticated analytics facilitate compliance with evolving standards set by regulatory bodies such as FINRA, IIROC, MiFID, CFTC, UK FCA, BaFin, AMF, CONSOB, HKMA, and ASIC.

The automation of alert generation, reporting, and auditing not only alleviates manual processes but also increases staff efficiency, producing high-quality alerts with fewer false positives. This consistency across the enterprise allows firms to utilize resources more effectively.

Comprehensive reporting tools and hierarchical organizational views enhance oversight and transparency, ensuring brokers provide suitable investment recommendations. This focus on client satisfaction also mitigates the risks of litigation, regulatory penalties, and reputational damage.

The annual WealthBriefing WealthTech Americas Awards celebrate the most innovative companies, teams, and individuals in the industry. This year saw a notable increase in entrants, underscoring the growing interest in recognizing excellence in wealth management technology. Stephen Harris, CEO of ClearView Financial Media and publisher of WealthBriefing, stated, “These awards provide organizations and individuals the opportunity to clarify their strategic thinking, gain independent validation, and celebrate their achievements with peers.”

As the wealth management sector continues to navigate a complex landscape, NICE Actimize stands out as a beacon of innovation and resilience, poised to meet today’s challenges and those of tomorrow.