The NextWealth Adviser Tech Stack series explores the technology that powers UK financial advice, whatā€™s working now and whatā€™s coming next. This report, Clearing the path for AI in advice, focuses on AI. AI adoption appears to be moving quickly, an encouraging contrast to the typically slower pace of change across the adviser tech stack.
This yearā€™s Financial Advice Business Benchmarks (FABB) report is the seventh in the series. We publish it free each year to give back to the financial advice community and share insights that help businesses navigate an ever-changing market.
It has been ten years since Pension Freedoms granted people far greater flexibility in how they could drawdown their defined contribution pension pots. With clients no longer restricted to purchasing annuities, the market for retirement investments has grown in importance.
The world is changing, fast. Technology, and particularly AI, is shifting the balance of where advisers spend their time, away from the more technical processes of planning to where human judgement and empathy make the greatest difference. At the same time, socio-economic and demographic shifts are reshaping what clients need from financial advisers. Nowhere is this more evident than at the point of retirement, as we will explore in this guide, supported by Standard Life.
OurĀ Adviser Reviews report, part of NextWealthā€™s Adviser Tech Stack series is now available. The NextWealth Adviser Tech Stack series delivers in-depth analysis of the technology that underpins the delivery of financial advice. This latest edition is our annual state of the nation report, covering market share and adviser reviews of key tech providers as well as the ways that financial advice professionals are using their tech and how that is changing.
At NextWealth, we have launched a new report comparing propositions for providers of smoothed funds, exploring how financial advisers use them in client portfolios and why non-users don't recommend them.
NextWealth has published a report on Data Openness, asĀ part of our Adviser Tech Stack series. Inconsistent and poorly structured data is a major contributor to operational inefficiency in financial advice firms. This report is part of our Adviser Tech Stack series. Inconsistent, poorly structured data remains a major source of inefficiency for financial advice firms.
