NextWealth has released the Data Openness 2026 report. This second edition of our research explores the data pipeline between financial advice firms, platforms, and providers, and forms part of our Adviser Tech Stack series.

Why this research matters

Last year we found that inconsistent and poorly structured data was a major contributor to operational inefficiency. Two thirds of advisers said they were satisfied with data from platforms and providers, but only 15% were very satisfied. A year on, much of that remains true. The same gaps came up in almost every conversation: transaction data, inconsistent formatting and a lack of standardisation across providers. The problem has not been solved. But the response to it has.

Firms are no longer waiting for providers to move. They are building data infrastructure and turning to aggregation providers to bridge the gap. The largest and fastest-growing firms now treat data capability as a non-negotiable in platform selection. For them, this is no longer a preference. It is a condition.

This year’s report goes deeper on important themes: what advice firms actually need from data and why, the reality of what firms have built versus what the market conversation implies, and the commercial consequences for platforms and providers that are not keeping up.

What is this research is for

• Understand the reality of adviser data infrastructure. Looking beyond the claims around data lakes, API’s and aggregation to show what firms have actually built, how far the data lake conversation is running ahead of reality, and what that means for how platforms and providers should be thinking about delivery.
• Identify where platform and provider data offerings create commercial risk or opportunity. Data provision is influencing platform panel decisions, consolidation shortlists, and new business flows. This report shows readers where and why.
• Inform product and technology roadmaps with evidence. Which data types matter most, which delivery methods firms are moving towards, and where investment will have the greatest impact.

Methodology

This report draws on research conducted between April-June 2026 to explore the use and availability of data between financial advice firms and providers (specifically, platforms and pension providers).

The following are the specific research activities undertaken:

• Survey of 201 financial advisers conducted in May 2026;
• Nine in-depth interviews with technology and operations executives at financial advice firms;
• Additional data requests from financial advice firms on the data they receive from providers.

Complete the form to the right to download a sample of the report with further details on what is covered in the report.

Fancy reading the full report? Get in touch at enquiries@nextwealth.co.uk.

Interested in our wider adviser technology series? Check out the full series here.

Authors

Chanelle Paynter, Associate Director at NextWealth & Alex Johnson, Head of Data at NextWealth

Suggested citation

NextWealth 2026, Data Openness Report, https://nextwealth.co.uk/research/data-openness-2026/

FAQs

What is the Data Openness Report 2026?

It is NextWealth’s second annual study of how data is shared and used between financial advice firms and providers — specifically platforms and pension providers. It looks beyond claims about data lakes, APIs, and aggregation to show what firms have actually built.

Why does this research matter?

The first report, in 2025, found that inconsistent, poorly structured data was a major cause of operational inefficiency across advice firms. Most platforms gave access to valuation data, but costs and charges, transaction history, and firm-level MI were largely out of reach. A year on, those gaps persist. What has changed is how the market is responding to them.

What will I learn from the report?

Three things. First, the reality of adviser data infrastructure — what firms have built and how far the data lake conversation is running ahead of reality. Second, where platform and provider data offerings create commercial risk or opportunity, including their influence on panel decisions, consolidation shortlists, and new business flows. Third, evidence to inform product and technology roadmaps — which data types matter most, which delivery methods firms are moving towards, and where investment will have the greatest impact.

Which data gaps does the report identify?

The same issues surfaced in almost every interview: transaction data, firm-level MI, and inconsistent formatting. The problem has not been solved.

Who is the report for?

Platforms, pension providers, and technology teams making decisions about data delivery, alongside advice firms assessing their own infrastructure.

What research informs the report?

The findings draw on research conducted between April and June 2026, comprising a survey of 201 financial advisers in May 2026, nine in-depth interviews with technology and operations executives at advice firms, and additional data requests from firms on what they receive from providers.

How do I read the report?

Complete the form to download a sample, which sets out further detail on what the report covers. To purchase a copy of the full report, get in touch at enquiries@nextwealth.co.uk.