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Adviser Technology Series
04/02/25

Adviser Tech Stack: Advice at Scale

Our Advice at Scale report, part of NextWealth’s Adviser Tech Stack series is now available. In this report, we explore how the meaning of hybrid advice has evolved alongside shifts in the market.

Think about it—most firms already provide hybrid advice; the difference lies in how they integrate technology. For some, this may simply mean offering telephone or video-based meetings.

Last year, our hybrid-focused report, Hacking the Advice Journey, examined this landscape. This time, we’re shifting the focus to advice at scale—a goal that many firms are striving to achieve.

The report delves into how large financial institutions are reimagining advice delivery using modern technology and innovative operating models. While many firms seek to automate parts of the advice process, we believe that achieving true scale requires a more fundamental transformation.

In this report we take a first principles-based approach to:
  • Establish context by defining the problem we’re trying to solve
  • Define the irrefutable facts about the problem
  • Challenge thinking about the regulatory backdrop to demonstrate that the regulator is willing to help firms crack the nut of delivering advice at scale
  • Break down the needs of the consumer in the advice journey, and how technology can support
  • Share learnings from those that have tried to offer advice at scale
  • Identify the tech solutions that can help institutions looking to offer advice at scale
  • Showcase live examples of firms that are offering advice at scale
Methodology

This report is based on:

  • 18 in-depth interviews with representatives of large financial institutions and advice businesses, including banks, life companies, workplace savings providers, vertically integrated firms and financial advice consolidators. Four interviews were with firms based outside the UK (Ireland and US).
  • Findings from an online survey of 340 financial advice professionals, conducted between June and August 2024.

 

Complete the form to download a sample of the report. Alternatively, you can purchase a copy by contacting enquiries@nextwealth.co.uk.

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