10X

10X Think Indexing 2023: Advice tech and the future of investment platforms

January 8, 2024 | 33m 57s

Learning: Knowledge

Investment platforms are playing an increasingly supportive role in the financial advice industry. They can give advisers an edge when it comes to planning, analysis, and keeping clients invested through the cycle and aligned to their long-term goals. This panel of experts will explore how technology is helping advice firms grow.

Key themes
•   Consumer transparency and value chain: There’s a clear emphasis on the need for enhanced consumer disclosures. It’s not just about stating costs but substantiating them across the value chain. This theme reflects a broader shift in the UK market towards greater transparency and accountability.
•   Allocation of spending: Platforms are grappling with the challenge of determining how much of their spending benefits the end client compared to the financial advice business. The discussion recognises the global nature of this challenge, especially in comparison to the scale advantage of providers in the US.
•   Technology development strategy: The ongoing debate on whether to outsource or insource technology development is prevalent. The consensus is that aspects touching the adviser and client should be owned (insourced), while back-end processes can be outsourced for efficiency. The focus is on finding the right balance and leveraging external expertise where necessary.

These takeaways collectively highlight the evolving landscape of financial services, emphasising transparency, strategic spending, and a thoughtful approach to technology development.

Panelists:
Daniel van Andel (Head of Adviser Proposition, Allan Gray)
Daryll Welsh (Head of Product, Ninety One Investment Platform)
Elton James (Head of Corporate Business, Glacier)

Moderated by:
Caroline Naylor-Renn – COO, 10X