Majority of advisers put platform and provider choice down to data provision

Its NextWealth Data Openness report found that 88% of financial advisers said data provision influences their decision to work with a provider, while 70% of advice firms view data as a strategic asset. The findings revealed "significant concerns" among financial advisers around data quality, availability and integration. The report suggested that while the back office should be a "single source of truth", for most firms its data is often "inconsistent, incomplete and delivered in hard to integrate formats". The challenges are greatest at larger advice firms and consolidators, the f...