Are advice business data silos a necessary evil?

‘Like them or not, data silos are here to stay’

clock • 4 min read

Robin Bevan looks at the seemingly inevitable 'necessary evil' this are data silos...

Siloed data refers to information trapped within separate systems. The nature of the UK's financial advice market means that all but the largest financial advice firms have several data silos within their business: their customer relationship management (CRM) system, their investment platforms, their financial planning tool and their client reporting application to name but a few. There's no obvious way round this: platforms will remain the natural ‘golden source' of investment data. Likewise, CRMs will remain the golden source of client related data, and the data generated by one is ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your Business

Was Aberdeen's financial planning arm ever going to work?

Was Aberdeen's financial planning arm ever going to work?

‘It was never going to be easy’

Justin Cash
clock 20 August 2025 • 4 min read
All the advice firm acquisitions that have taken place in 2025

All the advice firm acquisitions that have taken place in 2025

Keeping track of the ongoing consolidation of the advice industry

Professional Adviser
clock 20 August 2025 • 3 min read
Most IFAs do not expect FCA's advice/guidance proposals to change demand

Most IFAs do not expect FCA's advice/guidance proposals to change demand

IFAs are positive overall about the changes for clients

Isabel Baxter
clock 11 August 2025 • 1 min read