Are advice business data silos a necessary evil?

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 ...