Most advice businesses today operate with a complex web of technology systems, often more than 20 in total. While each system may serve a specific purpose, the lack of integration between them creates inefficiencies, duplication, and data mismatches. The Netwealth AdviceTech 2025 report, Turning data into growth, identifies ‘A connected data backbone’ as a critical trend, highlighting how leading businesses are addressing this fragmentation to unlock data for insights, better reporting, and a foundation for advanced technologies like Artificial Intelligence (AI).

Key takeaways:

• Integration solves system fragmentation and inefficiency.
• Centralised data enables reliable reporting and decision-making.
• Supports personalisation, automation, and AI adoption.
• A strong data backbone is key for scalable, intelligent advice.
  

From data silos to seamless integration

AdviceTech Stars – the businesses leading in technology adoption – are solving this challenge by building integrated, governed data environments. These businesses are creating a single source of truth that supports every aspect of the advice lifecycle.

The journey toward a connected data backbone begins with integration. AdviceTech Stars are using a combination of built-in data feeds, low-code integration tools such as Workato, and public APIs to connect their core systems. These systems could be platforms like Xplan, Xero, and Netwealth, which support advice delivery, financial modelling, and client reporting.

The 2025 AdviceTech report, Turning data into growth, notes a significant rise in the use of integration technologies among Stars, from just 21% in 2020 to 63% in 2025. This reflects a growing recognition that integration is a necessity for businesses that want to scale efficiently and deliver consistent, compliant advice.

Source: Netwealth 2025 AdviceTech research

Centralising data for clarity and control

To harness the power of their data, AdviceTech Stars are going beyond integrating data, and are implementing centralised data warehouses or data lakes. These tools normalise, match, and merge data records from across the firm’s ecosystem, creating a unified view of clients, portfolios, and operations.

This centralisation enables two-way synchronisation between systems, ensuring that updates made in one platform are reflected across others. This helps to reduce the need for manual data entry and reconciliation, and supports more reliable reporting.

Enabling better decisions and client experiences

A connected data backbone benefits both internal operations and the client experience. With integrated systems and centralised data, businesses can deliver faster, more accurate advice. They can personalise communications based on real-time insights, automate routine interactions, and respond quickly to changes in client circumstances.

Integrated data also improves transparency. Clients receive consistent information across channels, and advisers have a complete view of each client’s history, preferences, and goals. This holistic perspective strengthens relationships and builds trust.

From a strategic standpoint, integrated data enables better decision-making. Advice businesses can track performance, identify trends, and run scenario planning with confidence in the accuracy of their data. 

The groundwork for AI and automation

A connected data backbone is essential for businesses looking to adopt AI and automation. These technologies rely on high-quality, structured data to function effectively. Without integration and centralisation, AI tools may produce inconsistent or unreliable results. AdviceTech Stars are building a strong data foundation so that they can take full advantage of capabilities such as GenAI, automated compliance checks, and predictive modelling.

The AdviceTech 2025 report, Turning data into growth, makes a compelling case for building a strong data backbone. This supports personalisation, automation, AI, and compliance, all while improving the client experience. AdviceTech Stars are showing that with the right data infrastructure, they can turn data into growth.