Scaled advice technology
Discover the top suppliers of scaled advice technology used by wealth professionals, and learn how advice firms are using it.
What are the most popular scaled advice technologies?
Scaled advice is used to give personal advice that is limited in scope. Given as piece-by-piece advice rather than holistic or comprehensive advice, it is often provided over the phone or online at a fraction of the cost of holistic advice.
If you're willing to provide piece-by-piece advice at the request of a client, a great piece of scaled advice technology can benefit your advice business by helping to expand your client base. This scaled advice approach may suit younger clients.
Research from the Netwealth 2021 AdviceTech Report shows that the top 4 suppliers of scaled advice technology used by wealth professionals and financial advisers include: Xplan Prime (31.5 per cent of advice firms), a solution built in-house (17.4 per cent of advice firms), Astute Wheel (16.3 per cent) and Midwinter AdviceOS (13.0 per cent).
Netwealth's 2021 AdviceTech Report
The 2021 Netwealth AdviceTech Report explores six major opportunities and crucial technology trends that advice firms should consider as they evolve their client value proposition and enhance their customer experience.
How are advice firms using this technology?
26.4 per cent of advice firms use scaled advice technologies for the provision of advice, which is similar to the proportion 12 months ago.
35.1 per cent are looking to implement this AdviceTech in the next 24 months.
More than three-quarters (75.4 per cent) of firms who utilise scaled advice technologies use it at least weekly as part of their service.
Explore other AdviceTech tools used by wealth professionals
- Accounting software
- Cashflow, budgeting and account aggregation tools
- Client portals
- Cloud-hosted document storage and sharing services
- Cloud-hosted email and communication services
- Commission management software
- CRM software
- Database and system integration technology
- Digital signature tools
- Email campaigns and newsletter management technology
- Investment research tools
- Managed accounts
- Online and mobile advertising
- Online fact-find and risk profiling tools
- Presentation software
- Scaled advice technology
- SMSF administration software
- Social media management tools
- Social media networks
- Superannuation and investment platform
- Survey and client feedback tools
- Task, activity and project management technology
- Virtual online meeting tools
- Website management and blog tools
More AdviceTech resources
Innovation workshop
Netwealth has designed this 90-minute workshop to help you and your team prioritise technology solutions against business objectives to develop your business' AdviceTech roadmap.
The Emerging Affluent Report
This report is a playbook for financial advisers on how to attract, manage and retain The Emerging Affluent.
2021 AdviceTech summary video from Matt Heine
This 12 minute video explores some of the core themes that are highlighted in Netwealth's 2021 AdviceTech report.