Search

Adviser Technology Series
02/05/22

Tech Enabled Advice Report

Financial advice tech tipping point still years away, according to NextWealth

The latest NextWealth Adviser Tech Stack report (March 2022), focusing on tech-enabled advice, highlights how far the financial advice profession has to go to maximise the opportunities offered by technology.

The report is available as a one-off purchase or as part of a subscription. Reports in the series cover integrations, digital adoption and more. To find out more get in touch

The report identifies that what consumers want and what advisers want to provide are the same but currently there are huge disconnects to achieving this. This paid-for market report covers the following:

  • NextWealth View of the implications of the changes happening in advice tech and the areas that will be disrupted in the near term,
  • Definition of tech enabled advice along with four case studies of tech enabled advice in action.
  • Market size and opportunities for tech enabled advice, including consumer demand and advice adoption. The report distinguishes between robo advice and tech enabled advice, setting out the case for advice supported by technology to reach a wider population.
  • Current levels of adoption of technology within adviser firms and areas of greatest satisfaction and dissatisfaction with tech to support each stage of the advice process. The report also quantifies barriers to adoption and factors influencing choice of provider of new technology, helping advice tech providers focus on areas of greatest opportunity to drive adoption.
  • Adviser views on the aspects of financial planning that will be delivered by a machine, human or combination of the two, offering insights into the biggest opportunities for development and disruption.
  • Adviser views on five hypothetical tech enabled advice propositions – from bespoke platforms to portfolio management integrated to withdrawal strategies, we assess appetite for future propositions.
  • The report also includes detailed profiles of 12 technology providers powering tech enabled advice.

Every stage of financial planning has been shifting from manual processing to tech enabled practices and new tools and technology are constantly coming to market that promise to deliver greater efficiency and more effective insights. The opportunities are huge for our industry to reach a wider audience, helping more people secure their financial future.

Companies mentioned in this report:

Advice Bridge / Ammonite/ Charles Stanley / EV (formerly eValue) / FE CashCalc / First Wealth / Ignition Advice / intelliflo / Iress / M&G Wealth / Moneyinfo / Moneyhub / Prestwood Truth / Sprint / Timeline / True Potential

The report is available as a one-off purchase or as part of a subscription. Reports in the series cover integrations, digital adoption and more. To find out more get in touch.

Download Sample

Complete the form below to download a sample of the report. Or get in touch to purchase the full report.

Complete the form below to download a sample of the report. Or get in touch to purchase the full report.

    I would like to take part in NextWealth's research panel

      Direct to your inbox

      To stay up to date with what's next in wealth subscribe to our newsletter