Technology

Speed. Integration. Capacity. It’s what every advice firm is chasing – but most platforms still make you jump through hoops. This month, we spotlight the tech making real strides in reducing admin, unlocking capacity, and getting clients over the line faster.

Here’s what’s hot this July 👇

Transact x Plannr: Faster Onboarding, Finally

If onboarding feels like death by paperwork, this update might be your moment of relief. Transact and Plannr Technologies Limited have teamed up to deliver an integration that automates client setup and dramatically reduces time to submission.

What’s in it: • Pre-population of Transact app forms via Plannr CRM • Seamless digital consent and ID verification • Straight-through processing (finally!)

💭 What this means for you: Think fewer manual touchpoints and faster turnaround for new business. If your team is still toggling between CRM, platform, and email trails just to open one account, it’s time to rethink your onboarding tech.

🔗 Read the full Transact + Plannr update

AdviserSoftware’s New AI Guide: One to Bookmark

There’s no shortage of AI noise – but this guide is worth your time. AdviserSoftware.com has launched a monthly AI-focused feature to help firms cut through the hype and understand where AI genuinely fits into their advice process.

💭 What this means for you: Whether you’re dabbling with AI for factfinding or client comms – or still figuring out what’s hype and what’s helpful – this guide can be your shortcut to clarity.

🔗 Check out the first edition

Facing a Capacity Crunch? Tech Might Be Your Exit Route

A standout piece from Professional Adviser highlights how advice firms are responding to rising demand and limited internal capacity – and yes, smart tech is the common thread.

From client triage tools to simplified workflows, the shift is clear: capacity isn’t just about hiring more people. It’s about making the people you already have more effective.

What this means for you: Think less about headcount and more about headspace. What’s eating up your team’s time – and is there tech to take it off their plate?

🔗 Read the full article

Final Thought: Smart Tech Isn’t Optional – It’s Strategic

If your tech doesn’t reduce friction, it’s not doing its job. Advisers don’t need “innovation.” They need: • Less rekeying • Faster onboarding • Cleaner compliance trails • Tools that earn back hours – not cost them

At We Complement, we work with firms who want exactly that. Tech that works for advisers, not the other way around.

📬 hello@wecomplement.co.uk 💬 Or drop us a message right here – we’re always up for a conversation about smarter operations.

The fintech landscape isn’t slowing down, and neither are the pressures on financial advice businesses. This month’s edition of TechTalk brings you the latest tech and regulatory developments—and more importantly, what they actually mean for your firm’s operations, compliance, and client experience.

Let’s dive in.

📊 Aviva & FNZ Launch New Tools for Advisers

Aviva for Advisers and FNZ have launched two new tools designed to help advisers work smarter, not harder:

• Adviser Analytics Hub: a new MI suite inside Aviva’s Adviser Hub, offering data insights on client behaviour, segmentation, and business trends.
• New asset transfer workflow – designed to simplify and speed up bulk client transfers onto the Aviva platform, with far less back-and-forth.

This goes beyond ‘more dashboards’—it’s a genuine push to align platform functionality with adviser realities.

💭 What this means for you: If your firm regularly battles with fragmented data or slow re-registration workflows, this tech could significantly reduce turnaround times and resource drain. If you’re platform-agnostic, now’s the time to review which providers are genuinely investing in adviser usability.

🔗 Explore Aviva & FNZ’s collaboration

🔐 Moneyinfo x ZeroKey: Integrated Client Data, Less Hassle

moneyinfo and ZeroKey have announced a new partnership that’s all about speeding up access to client data—without compromising quality.

The integration means advisers can:

• Pull in data from providers, platforms, and open banking feeds
• Pre-populate client profiles with minimal manual entry
• Manage onboarding and reviews via a slick branded mobile app

It’s a tangible step forward in the drive toward smarter, faster client servicing.

💭 What this means for you: Ask your team how many minutes they spend hunting for accurate data before each review meeting. Now multiply that across your entire client base. This kind of automation doesn’t just cut cost—it unlocks capacity and reduces friction in your client journey.

🔗 See what Moneyinfo and ZeroKey are building

🧠 FCA & ICO: AI Is Inevitable—But You Need to Be Ready

In a joint update, the FCA and ICO made it clear: they support the use of AI in financial services—but they’re keeping a close eye on it.

Key points:

• 85% of firms are already using or planning to use AI.
• Data protection is a top barrier.
• A new statutory AI code of practice is being developed to provide clearer guardrails.

The message is: innovation is encouraged, but it must be responsible, transparent, and client-focused.

💭 What this means for you: Whether you’re already using AI tools (e.g. for meeting notes, workflows, or MI) or just considering them, now is the time to audit your processes. Are your providers transparent about how data is handled? Are you confident you could demonstrate compliance?

🔗 Read the full FCA-ICO update

🛡️ Fraud Is Up—Here’s What That Means for Wealth Firms

A recent report shows a 73% increase in online fraud impacting UK businesses. For advice firms handling sensitive financial data, the implications are real and growing.

Advisers need to be aware that:

• Cybercriminals are targeting firms with weak integrations and outdated client portals.
• Trust can be eroded fast if clients feel their data isn’t secure.
• Regulators are paying attention to how firms handle identity verification, document transfers, and platform access.

💭 What this means for you: Security is no longer just an IT issue—it’s a brand issue. Clients are asking more questions about where their data goes and how it’s protected. If your tech partners aren’t visibly proactive on security, it may be time to revisit the stack.

📈 FCA’s 2025–2030 Plan: Get Ready for Open Finance

The FCA’s new 5-year strategy reveals a vision where technology and trust go hand-in-hand. Open Finance is no longer a buzzword—it’s a roadmap.

Key highlights:

• Laying the groundwork for Open Finance regulation and interoperability.
• Supporting firms to adopt AI and digital tools safely.
• Stronger focus on consumer outcomes through transparent data use.

💭 What this means for you: Open Finance could fundamentally reshape how you access, use, and share client data. Are your systems agile enough to keep up? The firms that invest in flexible, future-ready infrastructure today will be the ones that thrive when the frameworks land.

💬 Final Thought: Let’s Be Honest—The Tech Isn’t Slowing Down

The pace of change can be exhausting. But the firms that succeed aren’t the ones doing everything—they’re the ones doing the right things, at the right time.

This month’s updates are a reminder that:

• Data must be trusted, not just available
• AI must be usable and accountable
• Client experience still trumps ‘shiny tech’

At We Complement, we help financial planning firms find their balance—making smart tech decisions that genuinely support advisers, paraplanners, and clients. If you’d like a sounding board on what to prioritise, we’re here.

📬 hello@wecomplement.co.uk 💬 Or just reply here—we always love hearing from planners who want to make tech work.

🔁 Follow us for more monthly TechTalk updates — no jargon, just insights that matter.

Practical Tech Insights for Paraplanners & Advisers

Welcome to the May edition of TechTalk! This month, we’re diving into the latest tech developments in financial services, with a focus on tools and innovations that can make your day-to-day work more efficient and client-focused.

🧠 Enhancing Client Understanding with Psychometric Tools

Scottish Widows has integrated a psychometric testing tool into their platform, developed in collaboration with Oxford Risk. This tool assesses clients’ risk attitudes, knowledge, and composure, providing deeper insights into their financial behaviours.

Why it matters:

• For paraplanners: Gain richer client profiling data during onboarding.
• For advisers: Tailor investment strategies that align more closely with client behaviours, potentially reducing reactive decision-making during market volatility.

👉 Learn more about the integration

🔧 Streamlining Platform Operations: The Platforms Association

A new body, the Platforms Association, has been established to address common challenges in the investment platform sector, such as re-registration delays and inconsistent tech interfaces. Members include major players like Aegon, Quilter, and Fidelity.

Why it matters:

• For paraplanners and advisers: Expect improved platform interoperability and service standards, leading to more efficient client onboarding and management.

👉 Read about the Platforms Association’s goals

📊 Advancing Pension Visibility: Origo’s Dashboard Connection

Origo has successfully connected to the UK’s pensions dashboards ecosystem, a significant step towards providing clients with a consolidated view of their pension pots.Why it matters:

• For paraplanners: Simplifies the fact-finding process by aggregating pension information.
• For advisers: Enhances the ability to present comprehensive retirement planning strategies.

👉 Discover Origo’s role in the pensions dashboard

📑 Standardising Data Requests: The LoA Data Checklist

The LoA Data Checklist, developed by the Fix LoA Action Group (FLAG) and maintained by Criterion, is gaining traction with over 70 firms adopting it. This standard aims to streamline the process of obtaining information through Letters of Authority.

Why it matters:

• For paraplanners and advisers: Reduces administrative burden by clarifying the data expected from providers, leading to faster and more accurate information retrieval.

👉 Explore the LoA Data Checklist

💰 Meeting Client Demand: AJ Bell’s Gilt MPS Launch

AJ Bell has introduced a new Gilt Model Portfolio Service (MPS), offering a low-cost investment option amid growing adviser demand for gilts. The service features a management charge of just 0.10% per annum and is available with a minimum investment of £10,000.

• For advisers: Provides a tax-efficient, low-risk investment option suitable for clients seeking stable returns.

👉 Learn about AJ Bell’s Gilt MPS

🔍 Final Thoughts

The financial services world is evolving fast, and it’s clear that tech is no longer a ‘nice to have’—it’s central to how paraplanners and advisers deliver value, stay efficient, and serve clients better. From smarter client profiling to platform improvements and clearer data standards, these developments are all about making your day-to-day work easier and more effective.

At We Complement, we specialise in supporting financial planning businesses behind the scenes—whether that’s paraplanning, streamlining operations, or helping you adopt the right tech tools without the overwhelm. If you’re curious about how we can help, pop us a DM here on LinkedIn or drop us an email at hello@wecomplement.co.uk. We’re always up for a chat.

🔍 AI & Cybersecurity: What Advisers Need to Know

This month, I’ve focused on two big topics that are shaping financial advice right now—cybersecurity threats and AI developments. Both are moving fast, and staying ahead is key.

🛡 Cyber Threats & Client Data—Are Advisers Doing Enough?

Cybercriminals are getting smarter, and financial services firms are a prime target. Keeping client data safe isn’t just about ticking compliance boxes—it’s about protecting your reputation and trust.

The biggest risks right now:

• Phishing & social engineering – Scammers are more convincing than ever. Are you and your team prepared?
• Weak security protocols – Still relying on outdated systems? You could be leaving your firm exposed.
• Regulatory penalties – A single data breach could land you in hot water with the FCA.

Simple ways to tighten security: ✅ Use Multi-Factor Authentication (MFA) – A quick win to reduce the risk of unauthorised access. ✅ Secure document sharing – Ditch email attachments and switch to encrypted client portals. ✅ Regular staff training – People are the weakest link (and your strongest defence). Keep them informed!

📖 Further reading:

• Cybersecurity: Best Practices for Financial Advisers
• Top Cyber Trends for Financial Services in 2025

🤖 AI Updates—What Actually Matters for Financial Advice?

AI is transforming financial advice, but with all the hype, it can be hard to know what’s actually useful and what’s just noise.

Here’s what’s worth paying attention to:

• AI adoption is accelerating – More firms are integrating AI into their processes, streamlining workflows and improving client interactions.
• Regulators are watching – The FCA is keeping a close eye on AI to make sure it’s used responsibly.
• Potential risks—data security & bias – AI is only as good as the data it’s trained on. What safeguards are in place to ensure fair outcomes?

Key questions advisers should be asking: 💡 How does AI handle sensitive client data? 💡 Are AI-generated recommendations free from bias? 💡 What are the FCA’s compliance expectations?

📖 Further reading:

• Research Note: AI in UK Financial Services
• FCA and ICO to Host Roundtable on AI Adoption and Innovation

📜 FCA’s Focus on AI & Consumer Duty

The FCA is stepping up scrutiny on AI in financial services, making it clear that firms must prioritise client protection, transparency, and fairness.

The key concerns: 🔹 Data security – AI tools must protect client information and prevent data breaches. [Read more] 🔹 Transparency – Clients should understand AI-driven decisions, not just accept them blindly. [Read more] 🔹 Bias & discrimination – AI should help advisers serve all clients fairly, not reinforce hidden biases. [Read more]

What this means for advisers: ✔ Review your AI tools – Are they compliant with Consumer Duty standards? ✔ Monitor AI-generated advice – Ensure recommendations are accurate and in clients’ best interests. ✔ Stay informed – AI regulations are evolving. Keep up-to-date to avoid compliance headaches.

📖 Further reading:

• Data Analytics and Artificial Intelligence (AI) | FCA
• AI Risks in Financial Advice | FT

Cyber threats and AI are reshaping financial advice—are you prepared? By taking proactive steps now, you can protect your clients, improve efficiency, and stay ahead of the curve.

At We Complement, we’re here to help advisers integrate technology in a way that’s safe, efficient, and compliant. If you’re exploring how AI or digital tools could improve your practice, let’s chat!

We’d love to hear your thoughts on these developments—drop a comment or message us!

It’s been a busy month in the fintech space! From cutting-edge AI tools to some big regulatory and tech developments that could impact your day-to-day work, here’s what’s been happening and what it means for financial advisers.

AI in Advice: Hype or a Real Game-Changer?

AdvisoryAI has recently launched its second AI assistant, Evie, designed to streamline “the most time-consuming aspects of the financial advisory process.” Evie can update customer relationship management (CRM) systems, eliminating the need for manual data entry, and also automates meeting transcriptions and summaries, making it easier to stay on top of client interactions without the usual admin burden. Read more here.

But let’s be real—while AI has potential, many advisers are still figuring out where it fits. Our recent LinkedIn poll on client meeting notes showed that a huge 42% of advisers still rely on pen and paper, despite the availability of transcription and AI-powered tools. Meanwhile, just 11% record and transcribe meetings every time. This tells us there’s still a gap between the AI solutions being marketed and what advisers are actually comfortable using. So, is AI truly making your life easier, or is it just another layer of complexity? If you’re still sticking to traditional methods, what’s stopping you from embracing AI-driven solutions?

DeepSeek: The AI Model That’s Raising Eyebrows

A new AI model called DeepSeek has been making waves in the AI space. Developed by a Chinese research team, DeepSeek is an open-source large language model (LLM) designed to rival ChatGPT. While both models generate human-like responses, DeepSeek was developed in record time and at a fraction of the cost, raising concerns about the quality of its training data and security risks. For financial advisers, the key takeaway is that not all AI models are created equal. While ChatGPT has undergone rigorous testing and compliance reviews, DeepSeek’s rapid release raises questions about data security, reliability, and ethical considerations. If you’re considering integrating AI into your practice, make sure any tool you use meets compliance requirements, safeguards client data, and aligns with FCA guidelines. The last thing you want is to rely on an AI that hasn’t been stress-tested for accuracy in financial planning. Read more here.

Letters of Authority: Why Are Providers Making Life Harder?

In a move that’s frustrating many in the industry, some providers are refusing to speak with adviser admin staff—even when they have a signed Letter of Authority (LoA). This is making it harder to get client requests processed efficiently. For many firms, admin staff are the backbone of smooth client service, and this kind of red tape only slows things down.

The issue isn’t new, but it seems to be getting worse. Some providers claim security concerns or regulatory requirements prevent them from engaging with non-advisers, while others simply don’t have the internal processes to handle LoAs efficiently. This leads to delays in transferring client information, increased workloads for advisers, and unnecessary frustration for both firms and clients.

Recognising these challenges, The Pension Lab has launched the Fix LoA Action Group (FLAG), a collaborative initiative aimed at overhauling the LoA process. FLAG seeks to bring together industry stakeholders—including providers, advisers, paraplanners, and others—to streamline and improve the LoA process. The goal is to make LoA processing as simple and transparent as Open Banking.

Paraplanners, advisers, and admin teams—how is your firm handling these roadblocks? Have you found any workarounds, or are you simply forced to wait? Let’s keep this conversation going and push for real change. Read more here

The UK’s Potential Leadership in Asset Tokenisation

The UK is in a strong position to lead the global market in asset tokenisation, a revolutionary use of blockchain technology to digitise ownership of traditional assets. Tokenisation allows for fractional ownership of everything from property to fine art, opening new investment opportunities. However, while the U.S. has been focusing heavily on cryptocurrency, the UK has the opportunity to dominate the tokenisation space, offering a more accessible and secure market for investors.

Yet, there’s a significant lag in the UK’s regulatory framework for digital securities. Industry experts argue that stronger government leadership and clear regulatory guidance are needed to ensure the UK doesn’t fall behind other global financial hubs like Singapore or Luxembourg. Asset tokenisation could reshape capital markets, increase liquidity, and provide new opportunities for both advisers and clients.

If you’re advising clients on alternative investments or looking to diversify portfolios, this emerging trend could be a key area to watch. Read more here.

Final Thoughts

The takeaway this month? AI adoption in advice is happening, but advisers are still hesitant about fully integrating it. The LoA process continues to cause frustration, but efforts are underway to make it smoother. The UK’s potential in asset tokenisation could be a game-changer for advisers looking to offer new investment opportunities.

At We Complement, we’re here to help advisers navigate the evolving tech landscape with solutions designed to improve productivity, simplify compliance, and provide valuable support to both clients and teams. Whether it’s helping you get the most out of AI tools, streamlining admin, or staying on top of regulatory changes, we’re here to make tech work for you.

Until next time,

Amy North

Welcome to the January edition of Tech Talk. In this issue, we focus on how AI is transforming the financial services industry. AI-driven tools are making remarkable progress in streamlining operations, improving compliance, and enhancing customer experience. From meeting transcription to personalised suitability reports, these tools are enabling businesses to operate more efficiently, reduce costs, and deliver better outcomes for their clients.

AI Tools Revolutionising Financial Services

The integration of AI into financial services is unlocking new levels of efficiency and accuracy. Key players such as Fireflies.ai, Saturn, Aveni, Timeline, and Avenir are at the forefront, automating tasks, enhancing compliance, and enabling professionals to focus on high-value activities. Like many businesses, we’re in the early stages of conducting our own in-house research and would like to share an overview of some of the most impactful AI tools currently available:

Fireflies.ai: Streamlining Meeting Transcriptions and Analysis

Fireflies.ai automates the transcription and analysis of meetings, saving valuable time and ensuring accurate documentation. It supports platforms like Zoom, Google Meet, and Microsoft Teams, generating summaries, capturing action items, and enhancing team collaboration.

Key Features:

• Automated transcriptions with multilingual support
• AI-generated summaries highlighting key decisions and tasks
• Task tracking integration with tools like Slack
• A searchable database for easy retrieval of meeting notes
• Analytics on meeting participation and talk time

There’s a free 7-day Business Plan trial available, but we’ve been using their free forever subscription over the past week and can confirm it’s very user-friendly. Give it a try here: Fireflies.ai

Saturn: A Customisable Platform for Financial Advisers

Saturn is a powerful platform designed to enhance the efficiency of financial Advisers, paraplanners, and compliance teams. It automates routine tasks, manages data, and ensures compliance, allowing professionals to focus more on client-facing activities.

Key Features:

• Client management, data capture, and reporting
• Compliance and risk management tools
• Workflow automation to improve client service
• High security standards to protect sensitive information

Find out more at: Saturn

Aveni: AI-Driven Automation for Administrative Tasks

Aveni specialises in automating administrative tasks in financial services. By leveraging voice AI, the platform enhances customer service, ensures compliance, and boosts overall productivity by automating client-related activities such as onboarding and document processing.

Key Features:

• Automates tasks like client onboarding and document management
• Voice AI to improve customer interactions
• Ensures regulatory compliance
• Provides performance coaching and quality assurance

Pricing: For a customised quote, please reach out directly to Aveni.

Avenir: Personalised Suitability Reports in Minutes

Avenir simplifies the process of generating personalised suitability reports. Designed for financial advisers, the tool integrates seamlessly with client records to create reports in under 25 minutes, saving time and ensuring accuracy.

Key Features:

• Rapid generation of suitability reports
• Customisable templates for tailored reports
• Secure data processing and integration with client records

Pricing:

• Standard Plan: Unlimited reports with Avenir’s templates (currently 3 available, with 2 more in the pipeline)
• Premium Plan: Custom templates for your firm’s specific needs

The Importance of AI in Financial Services

AI is rapidly becoming a cornerstone of operational efficiency in the financial services sector. These technologies provide several key benefits:

• Improved Efficiency: Automating repetitive tasks allows financial professionals to focus on higher-value activities like client engagement and strategic planning.
• Enhanced Accuracy: AI ensures precise documentation, reducing the risk of human error.
• Compliance and Risk Management: AI tools help businesses stay ahead of evolving regulatory requirements, reducing the likelihood of compliance issues.
• Better Client Experience: Automation frees up professionals’ time, enabling them to deliver superior service to clients.

As AI continues to evolve, its impact on financial services will only expand. Firms embracing these technologies are well-positioned to improve operations, reduce costs, and deliver greater value to their clients.

We hope this edition of Tech Talk has provided valuable insights into the AI tools shaping the future of financial services. We will continue testing these systems over the coming months to assess which ones are truly worth the investment, and we’ll be sure to keep you updated on our findings.

Welcome to this month’s edition of the Tech Talk Newsletter! As always, we’re keeping you updated on the latest tools, insights, and news to help you stay ahead. December might be a quieter month for some, but our industry is buzzing with updates, especially around Consumer Duty and new innovations in financial advice technology. Let’s go!

New Diagnostic Tool to Tackle Consumer Duty in 2025

If you’ve been keeping an eye on the Financial Conduct Authority’s (FCA) Consumer Duty regulations, you’ll know the landscape is set to shift again in 2025. To help firms get ahead, the Consumer Duty Alliance (CDA) has partnered with The Consumer Duty Diagnostic to launch a new diagnostic tool.

This isn’t just another compliance checklist—it’s a dynamic tool designed to help firms benchmark their progress across critical areas of Consumer Duty, like cultural transformation, outcome testing, and client advocacy.

Keith Richards, CDA’s CEO, explained the reasoning behind this launch:

“The FCA is increasingly using data requests to evidence compliance with the duty and has signaled plans for random spot audits during 2025.”

The tool includes ten subject areas and 50 diagnostic questions. Answering these provides firms with a personalised report, offering actionable recommendations to plug any gaps, meet regulatory standards, and even identify potential growth opportunities.

The focus here isn’t just compliance—it’s outcomes. Richards made a great point about how the shift from prescriptive tick-box exercises to outcomes-driven assessments is already proving beneficial:

“Good consumer outcomes are leading to good business outcomes across the sector.”

But it’s not all smooth sailing. With a record number of Section 166 notices issued this year, firms are under pressure to tighten their practices. The CDA tool is a smart way to ensure you’re ready for whatever the FCA throws your way.

Consumer Duty Diagnostic

Making Financial Advice Accessible with LifeStage

Let’s switch gears to something super practical. WPS Advisory Limited, in partnership with Moneyhub , has launched a new app called LifeStage —and it’s a game-changer.

LifeStage was created to make financial advice more accessible and affordable. It’s designed to help users get a clear picture of their finances, from income and spending to savings, debts, pensions, and property. All of this is presented in one user-friendly dashboard, giving people the tools they need to make informed decisions.

Natalie Oliver, Head of Strategy at WPS Advisory, summed up the app’s mission perfectly:

“Our aim is to empower customers to manage their finances today, tomorrow, and in the future, while maintaining exceptional value for money.”

The app integrates with tools like:

• Guiide: A pension modeling tool that helps users create and manage retirement plans.

• Legado (joinlegado.com): A digital vault for securely storing and sharing important documents.

• SmartSearch: For instant anti-money laundering checks, ensuring compliance with regulations.

One feature I love is the data-sharing capability through Moneyhub’s sharing centre. Users can share their financial data with advisers, ensuring their advice is always based on real-time, accurate information. It’s a win-win—clients get tailored advice, and advisers get a clearer picture of their client’s financial situation.

Dan Scholey, Chief Commercial Officer at Moneyhub, described the app as a response to growing demand for workplace financial advice, especially in light of the FCA’s advice guidance boundary review. He also highlighted a key insight:

“Poor employee financial health impacts mental health, productivity, and retention. Employers have a big role to play in supporting their workforce’s financial well-being.”

The Problem with Platform Service: Parmenion’s Report

Now onto an issue that’s causing headaches across the industry—poor platform service.

Parmenion ’s latest report, The Impact of Poor Platform Service, created with the the lang cat, revealed some staggering statistics. Did you know that 95% of advisershave had to apologise to their clients because of poor platform service this year? That’s up from 2023 and a clear sign that something needs to change.

One adviser quoted in the report called the service they’ve experienced “unbearable,” citing long delays, lost records, and a lack of knowledgeable support. It’s no wonder 45% of advisersswitched platforms in 2024 due to frustration.

Platform transfers are a particular pain point:

• 90% of advisers associate transfers with negative experiences.

• Over 20% reported delays exceeding six months.

• Nearly 10% have waited more than a year for a transfer to complete.

These delays and inefficiencies are more than just an annoyance—they’re impacting productivity and eroding trust. Martin Jennings, Parmenion’s CEO, didn’t hold back in his assessment:

“In the new era of Consumer Duty, this year’s report is a disappointing read. Poor platform service is linked to a double-digit loss of productivity in advice firms.”

One proposed solution is for providers to publish standardised transfer data to improve transparency and accountability—something 89% of advisers support. Meanwhile, 75% of firms now favour cash transfers for their predictability and speed.

Steven Nelson, Insight Director at the lang cat, put it bluntly:

“Platforms must embrace technology and improve their processes—or advisers will vote with their feet, as we’ve already seen this year.”

As we wrap up 2024, it’s clear the industry is facing a mix of challenges and opportunities. From the evolving Consumer Duty landscape to the rise of tech-driven financial advice, the key takeaway is this: staying ahead means embracing innovation and focusing on outcomes.

At We Complement, we’re passionate about keeping you informed and equipped to handle whatever comes your way. If you’d like to learn more about any of the tools or reports mentioned, or if there’s something specific you’d like us to cover next month, let us know—we’d love to hear from you!

Wishing you all a productive and peaceful end to the year.