Abraham Okusanya: Rebuilding the adviser tech stack

The why and the how

clock • 4 min read

Abraham Okusanya

I have spent a lot of time in the past few months thinking and talking about the sorry state of the adviser technology landscape. According to a report by NextWealth/PFS, 42% of solo advisers spend between £5,000 to £25,000 a year on technology. This figure rises to 52% for firms with two to five advisers. My own conversation with more than 50 firms in the past year alone, suggests a typical small financial planning firm would spend around £10,000 a year per adviser in advice technology. We identified at least six different categories of technology with a cost in the region of £16,000...

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