Earlier this month, we published the first edition of our Data Openness report as part of the Adviser Tech Stack subscription series. The decision to explore this theme stemmed from discussions earlier in the year with senior leaders at some of the UK’s largest consolidators (as part of the 4^th edition of our Consolidators & Aggregators report) and acquiring financial advice firms. In those conversations we heard repeatedly that the availability and quality of data significantly influences decisions about which providers they choose to work with.

Importantly, this is not just a concern for national consolidators. In a survey of 200 financial advisers, 88% said that data availability impacts their choice of provider. This is a clear signal that data has become a critical point of differentiation across the advice ecosystem.

The impact of data on provider selection

Q. To what extent does the quality and process of accessing data offered by a provider affect your decision to work with them?

So why the renewed focus on data now?

Our research points to several factors driving this shift. Chief among them is operational efficiency: inconsistent, incomplete or poorly structured data remains a significant drag on adviser productivity. Whether it’s rekeying client information or navigating multiple systems, data friction remains a daily challenge for many firms.

Regulatory pressure is also playing a growing role. From RDR and MiFID II to the more recent Consumer Duty, advisers are now required to provide evidence of ongoing suitability. High-quality, timely data is no longer a luxury. It is essential for compliance.

For platforms, this presents a meaningful opportunity. Those that invest in better data access and transparency will be well-placed to support advisers in scaling their businesses, enhancing client outcomes and driving innovation. In a market where differentiation is increasingly hard-won, data may well be the next frontier.