Advice firms move away from generic platforms as customisation gains momentum

The latest NextWealth platform research, which surveyed 340 financial advice professionals and conducted 19 in-depth interviews with industry leaders, found that in 2021, 56% of advisers relied on such platforms, but this figure has now fallen to 47% in 2024. This shift reflects a growing preference among advice firms for customised solutions that allow for greater control over client experience without taking on full regulatory responsibility. Mid-sized advice firms—those with between six and 50 advisers—are driving this trend, according to NextWealth, and are increasingly adoptin...