Can small advice firms still compete in a tech-driven market?

clock • 3 min read

When AI is finally cracked in the context of financial advice, the competitive advantages will be enormous. The question is whether the economics of the technology market will let smaller firms share in them, writes Max Anderson

Having spent time on both sides of the fence, first as an adviser in an independent advice firm and now additionally as a founder in wealthtech, I've watched the same dynamic from two angles. As an adviser, I felt it. Technology that promised to make my life easier but demanded I change the way I worked to use it. As a founder, I can see why it happens. Under the surface, most UK advice firms are small. One, two, maybe five advisers. Even within larger networks, individual offices are made up of unique advisers running their own version of the required processes. Advisers who advise, a b...

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