uk adviser software market assessment - finance ......2018/06/18 · f&trc are to provide the...

FINANCE & TECHNOLOGY RESEARCH CENTRE


UK Adviser Software Market Assessment - Synopsis

June 2018


F&TRC UK Adviser Software Market Assessment - Synopsis © F&TRC 2018

Technology which is available to adviser firms has evolved at a rapid rate over the last few years. It is still not perfect but it does offer more value than it used to.

Adoption of technology by adviser firms is now far greater than it has ever been. Possibly the greatest challenge is keeping track of what is available and the differences between the various offerings.

Our UK Adviser Software Market Assessment report has been developed over the past twelve months and provides analysis on:

F&TRC UK Adviser Software Market Assessment

• All the different types of software used by adviser firms,

• The role of each in the advice process, particularly in the context of product selection,

• An overview of the market share and key customers for the leading players in each sector

• Which technology solutions integrate with each other

• Which technology solutions integrate with different life offices & platforms

• Analysis of key functionality from each of the software products included in the study

The document provides over 140 pages of insight and analysis which is updated on a monthly basis.



Testimonials for the report

“Every product provider, platform and asset manager should have this document. It is the best summary I have seen of how technology is actually used within adviser firms and what the technology is that really makes a difference. An important insight to help both strategic and day to day decisions.”

Tim Walton, E-commerce Integration Manager

“The Adviser Software Insights research brings together an unparalleled level of information on how advisers use technology in their businesses. We find the study and our regular workshops with F&TRC a huge benefit in planning our technology strategy.“

Mark Peters, Head of Market Management, UK Life

“The comprehensive and informed analysis in the Adviser Software Insights report is complemented by the significant understanding Ian and his team has of the adviser marketplace. Highly recommend.”

Nick Eatock, Executive Chairman & Founder



Companies already covered in this study include:

Companies included in the study



Table of Contents

Content Slide No Content Slide No

The investment and pension advice processA high level overview of the key stages an adviser would go through when providing advice where technology could provide assistance.

Wealth Client Management Systems (CMS)

An overview of functionality and hygiene factors 29

The investment and pension accumulation advice process 10 How they add value 30

The investment and pension Decumulation advice process 11 How they influence product/fund selection 31

Know your client 12 Market leaders and high level functionality they provide (Overview) 32

Risk profiling 13 CMS provider 1 33

Understanding existing investments (inc. aggregation) 14 CMS provider 2 33

The role of different types of aggregation 15 CMS provider 3 34

Portfolio review and construction 16 CMS provider 4 35

Ongoing reviews 17 CMS provider 5 36

The mortgage and protection advice processA high level overview of the key stages an broker would go through when providing advice where technology could provide assistance.

CMS provider 6 37

CMS provider 7 38

The protection advice process 19 CMS provider 8 38

The mortgage advice process 20 CMS provider 9 39

Know your client 21 CMS provider 10 40

The key types of adviser software & market leadersA detailed look at the different types of adviser software available in the UK and how each can benefit advisers. This also considers the different vendors in the market, the software types they offer and the functionality they provide.

Platform Integrations 41

Life & Pension integrations 44

DFM/Asset Manager integrations 46

An overview of Investment & Pension Back office & Client Facing Tools 25 Financial planning tool integrations 49

An overview of Investment & Pension Financial Planning tools 26

An overview of Protection Software Vendors 27

An overview of Mortgage Software vendors 28



Table of Contents (Cont.)

Content Slide No Content Slide No

Mortgage Client Management Systems Personal Financial Management

An overview of functionality and hygiene factors 52 An overview of functionality and hygiene factors 69

How they add value 53 How they add value 70

Market leaders and high level functionality they provide (Overview) 54 Market leaders and high level functionality they provide (Overview) 71

Mortgage CMS provider 1 55 PFM provider 1 72




Client Portals PFM provider 5 73

An overview of functionality and hygiene factors 58 Risk Profiling Tools

How they add value 59 An overview of functionality and hygiene factors 74

Market leaders and high level functionality they provide (Overview) 60 How they add value 75

Client Portal supplier 1 61 How they influence product/fund selection 76

Client Portal supplier 2 61 Market leaders and high level functionality they provide (Overview) 77

Client Portal supplier 3 62 Risk Profiling Tool supplier 1 78












Table of Contents (Cont)Content Slide No Content Slide No

Quotation Portals (Protection and Annuity) Mortgage Sourcing Systems

An overview of functionality and hygiene factors 124 An overview of functionality and hygiene factors 145

How they add value 125 How they add value 146

How they influence product/fund selection 126 How they influence product/fund selection 147

Market leaders and high level functionality they provide (Overview) 127 Market leaders and high level functionality they provide (Overview) 148

Quotation Portal supplier 1 128 Mortgage Sourcing System supplier 1 149







Quotation Portal supplier 8 134 Wealth Management Systems

Quotation portal provider accessibility 135 Market leaders and high level functionality they provide (Overview) 154

Research Systems (Investment & Protection) Wealth Management Systems supplier 1 155

An overview of functionality and hygiene factors 139 Wealth Management Systems supplier 2 156

How they add value 140 Wealth Management Systems supplier 3 157

How they influence product/fund selection 141 Wealth Management Systems supplier 4 158

Research Systems supplier 1 142 Wealth Management Systems supplier 5 159




Research Systems supplier 5 143 RegTech Systems

Research Systems supplier 6 144 Market leaders and high level functionality they provide (Overview) 162

RegTech Systems supplier 1 162



UK Adviser Software Market Assessment - updates

The last three updates (first publication was July 2016) include:

March 2018 April 2018 May 2018

Investment & Pension Back Office and Client Facing Tools• Voyant Snapshot (added)

Investment & Pension Financial Planning and Research Tools• Voyant Adviser (added)• Voyant AdviserGo (added)

Financial Planning Tool Integrations• Intelliflo (updated)• New sections added

Mortgage Client Management System Market Leaders• 360dotnet (updated)

Client Portal Market Leaders• 3602dotnet (updated)• Voyant Snapshot (added)

Financial Planning/Cash Flow Modelling Market Leaders• Voyant Adviser (added)• Voyant AdviserGo (added)

Investment & Pension Financial Planning and Research Tools• Defaqto Engage (updated)• Prestwood (updated)

Protection Market Leaders and the tools they provide• Defaqto Engage (updated)• Prestwood (updated)

Non client Management Systems – Platform Integrations• Prestwood (updated)

Financial Planning Tool Integrations• Defaqto Engage (added)• Prestwood Truth (added)

Client Portal Market Leaders and Functionality• Moneyhub (updated)• Moneyinfo (updated)

Personal Financial Management Market Leaders• Banking Aggregation – Open Banking (new section)

Risk Profiling Market Leaders and Functionality• Defaqto Engage (added)• Evalue (updated)

Financial Planning/Cash Flow Modelling Market Leaders• Defaqto Engage (added)• Prestwood Truth (updated)

Financial Planning Tool Integrations• Intelligent Office (updated)• Finametrica (updated)• Moneyhub (added)

Client Portal Market Leaders and Functionality• Intelliflo Personal Finance Portal (updated)

Risk Profiling Market Leaders and Functionality• Synaptic Modeller (updated)

Financial Planning/Cash Flow Modelling Market Leaders• Synaptic Analyser (updated)

Transfer Analysis Market Leaders and Functionality• Synaptic Comparator (updated)

Quotation Portal Market Leaders and Functionality• iPipeline SolutionBuilder (updated)

Research System Market Leaders and Functionality• Synaptic Product & Fund (updated)

RegTech Market Leaders and Functionality• Engage Insight – Model Office (updated)

Please see Appendix 1 at the end of this document for details of previous updates since the report was first published.



Subscription costs

Pathfinder Reports plus online access/updates Initial Cost On-going Monthly Updates (min 11 months)*

UK Adviser Software Market Assessment (with updates) £3,000 + VAT + £500 + VAT per month

UK Adviser Software Market Assessment (one off report without updates)

£5,000 + VAT

Optional Extras

Half day workshop to review report and identify priorities for

relationships with Adviser Software providers with 2 F&TRC

consultants

£2,750 + VAT**

Ongoing quarterly meetings (est. 2½ hours) to review market

developments and how they impact your strategy with 2 F&TRC

consultants

£1,875 + VAT per quarter **

Access to the reports will be provided via personalised PDF files.

* The monthly subscription basis operates on an initial joining fee of £3,000 plus VAT and an ongoing subscription of £500 plus VAT per month (minimum period 11 months).

** Pricing for meetings within the M25 or via video conference. Meetings held outside the M25 will be charged at a higher day rate and we will request reimbursement of travel expenses.



F&TRC are to provide the latest version of our UK Adviser Software Insights report plus a minimum of eleven monthly updates to this report. The report provides an overview of the UK adviser software market and is updated monthly to reflect recent developments.

In purchasing the report indicated overleaf we accept the following:

1. The report will be prepared by F&TRC in good faith using our market experience and understanding. It will represent our view of the market however we cannot accept any responsibility for the date or other information included. F&TRC cannot accept any liability or be responsive for any decision taken based on the content of the report or related discussions.

2. The research report and monthly updates will be supplied as a personally watermarked digital files (PDF) and we undertake to treat the contents as confidential.

3. We will provide F&TRC with a list of any individuals within our organisation who require copies of the initial report and updates.

4. _______________________ [insert name of organisation] agree that in purchasing this report it will be used solely for internal use and will not be distributed outside of our organisation.

5. No part of the report may be extracted and used in any third party collateral without the prior written agreement of F&TRC. If use of the report contents in this manner is agreed it will only be for limited extracts.

6. Invoiced will be issued monthly and are payable within 14 days.

Where the company is using external advisers/consultants/contractors and wishes to share elements of the F&TRC research with such advisers the company agrees to obtain a specific undertaking from such advisers/consultants/contractors that they will not use the F&TRC reports for any other purpose than the work being carried out for _______________________ [insert name of organisation] and that the external advisers/consultants/contractors will destroy/delete any copies of the F&TRC reports after use.

7. Any unauthorised distribution renders the distributor liable for the cost of the document distributed for each third party they are passed on to.

8. Upon signing this order form you are committing to subscribe to the Insight report for a minimum period of 12 months. To terminate this arrangement you must supply 3 months notice in writing.

9. This agreement is governed by the laws of England and Wales and is subject to the exclusive jurisdiction of the English Courts.

UK Adviser Software Assessment – Terms & Conditions and Confidentiality



Ian McKenna, Director - F&TRC

020 3740 0000

07901 555515

[email protected]

Finance & Technology Research CentreUnited House North Road London N7 9DP Tel: 020 3740 0000

www.ftrc.cowww.digitalwealthinsights.comwww.advisersoftware.com www.adviserforum.com

Finance & Technology Research CentreDigital Wealth Insights

@F_TRC@DWealthInsights

Finance & Technology Research Centre

Follow us on social media:

[email protected]

https://uk.linkedin.com/in/iamckenna

@ianmckennaftrc

Adam Higgs, Lead Analyst, UK Adviser Software Market Assessment report

020 3457 9988

[email protected]

[email protected]

https://www.linkedin.com/in/adamphiggs/

@wealthtechad

Contact details

mailto:[email protected]

https://uk.linkedin.com/in/iamckenna

mailto:[email protected]

https://www.linkedin.com/in/adamphiggs/



Appendix 1: Summary of previous updates




The last three updates (first publication was July 2016) include:

January 2018 February 2018 March 2018

Investment & Pension back office and client facing tools• Advicefront (added)

Investment & Pension financial planning and research tools• Advicefront (added)• SimplyBiz Centra (added)

Protection Market Leaders• SimplyBiz Centra (added)

Non Client Management System Platform Integrations• Advicefront (added)

Financial Planning Tool Integrations• SimplyBiz Centra (added)

Risk Profiling Market Leaders• SimplyBiz Centra (added)

Financial Planning/Cash Flow Modelling Market Leaders• Advicefront added)• SimplyBiz Centra (added)

Portfolio Analysis Market Leaders• SimplyBiz Centra (added)

Mortgage Sourcing Market Leaders• Twenty7Tec (updated)

Protection Market Leaders• CalQLife (added)

Mortgage Market Leaders• Intelliflo (updated)• MortgageBrain (updated)

Wealth Client Management System Market Leaders• Intelliflo (updated)

Client Management System Platform Integrations• Intelliflo (updated)

Client Management System Life & Pension Provider Integrations• Intelliflo (updated)

Client Management System DFM/Asset Manager Integrations• Intelliflo (updated)

Financial Planning Tool Integrations• Intelliflo (updated)

Mortgage Client Management System• Intelliflo (updated)

Financial Planning/Cash Flow Modelling Market Leaders• CalQLife (added)

Investment & Pension Back Office and Client Facing Tools• Voyant Snapshot (added)

Investment & Pension Financial Planning and Research Tools• Voyant Adviser (added)• Voyant AdviserGo (added)

Financial Planning Tool Integrations• Intelliflo (updated)• New sections added

Mortgage Client Management System Market Leaders• 360dotnet (updated)

Client Portal Market Leaders• 3602dotnet (updated)• Voyant Snapshot (added)

Financial Planning/Cash Flow Modelling Market Leaders• Voyant Adviser (added)• Voyant AdviserGo (added)




September 2016 October 2016 November 2016

Market Leaders & the tools they provide• Two supplier entries updated• One new supplier added

Client Management Systems Market Leaders & Functionality• New content added to report

Platform Integrations• Two supplier entries updated

Financial Planning Tool Integrations• One supplier entry updated

Client Portal Market Leaders & Functionality• Two supplier entries updated• Two new suppliers added

Personal Financial Management• New content added to report

Risk Profiling Market Leaders & Functionality• One supplier entry updated

Investment & Pension Market Leaders & the tools they provide• One supplier entry updated• Two new suppliers added• Tables in this section segregated for additional clarity

Mortgage & Protection Market Leaders & the tools they provide• Three new suppliers added• Tables in this section segregated for additional clarity

Client Management Systems Market Leaders & Functionality• One supplier entry updated

Platform Integrations• One supplier entry updated

Life & Pension Provider Integrations• One supplier entry updated

Client Portal Market Leaders & Functionality• Two supplier entries updated


Cash Flow Modelling/Retirement Planner Market Leaders & Functionality• One new supplier added

Quotation Portal Market Leaders• Tables in this section segregated for additional clarity

Mortgage Sourcing Systems• New content added to report

Investment & Pension Market Leaders & the tools they provide• One supplier entry updated

Mortgage & Protection Market Leaders & the tools they provide• Two supplier entries updated• One new supplier added

Wealth Client Management Systems Market Leaders & Functionality• One supplier entry updated

Platform Integrations• One supplier entry updated• One new supplier added

Life & Pension Provider Integrations• One new supplier added

Financial Planning Tool Integrations• Two new suppliers added

Mortgage Client Management Systems • New content added to report

Client Portal Market Leaders & Functionality• Two new suppliers added

Quotation Portal Market Leaders• Two supplier entries updated

Mortgage Sourcing System Market Leaders & Functionality• One supplier entry updated




December 2016 January 2017 February 2017

Investment & Pension Market Leaders • One supplier entry updated

Mortgage & Protection Market Leaders• Three supplier entries updated

Wealth Client Management Systems Market Leaders • One new supplier added

Risk Profiling Market Leaders• One supplier entry updated


Transfer Analysis Market Leaders & Functionality• One supplier entry updated

Research Market Leaders & Functionality• One supplier entry updated

Wealth Management Software Market Leaders• New content added to report

Wealth Management Market Leaders & Functionality• Three new suppliers added

Investment & Pension Market Leaders• Two supplier entries updated• Two new suppliers added

Mortgage & Protection Market Leaders• Two supplier entries updated• Two new suppliers added

Wealth Client Management Systems Market Leaders • Two new suppliers added

Integrations• Two new suppliers added

Client Portal Market Leaders• Two new suppliers added

Risk Profiling Market Leaders• One supplier entry updated• One new supplier added

Cash Flow Modelling/Retirement Planner Market Leaders• Two supplier entries updated

Switching Analysis Market Leaders• Two supplier entries updated

Quotation Portal Market Leaders• One supplier entry updated

Research Systems Market Leaders• Two supplier entries updated

Wealth Management Market Leaders • Three new suppliers added

Investment & Pension Market Leaders• One new supplier added

Mortgage & Protection Market Leaders• Three new suppliers added

Wealth Client Management Systems Market Leaders • One new supplier added

Wealth Client Management Systems• New content added to report

Research Market Leaders• One supplier entry updated

Mortgage Sourcing Systems Market Leaders• Three new suppliers added

Mortgage Sourcing Systems• New content added to report

Wealth Management System Market Leaders • One supplier entry updated

Wealth Management Systems• New content added to report




March 2017 April 2017 May 2017

Investment & Pension Market Leaders • Three new suppliers added

Mortgage & Protection Market Leaders• Two new suppliers added

Client Management System - Platform Integrations • Four supplier entries updated

Non-client Management System - Platform Integrations • New content added to report• Two supplier entries updated• Four new suppliers added

Client Management Systems – Life & Pension Integrations• Five new suppliers added• Eight supplier entries updated

Non-client Management System – Life & Pension Integrations • New content added to report• Two supplier entries updated• Two new suppliers added

Client Management System – DFM/Asset Manager Integrations • New content added to report

Non-client Management System – DFM/Asset Manager Integrations • New content added to report

Cash Flow Modelling/Retirement Planner Market Leaders• One new supplier added

RegTech Market Leaders• One new supplier added


Mortgage & Protection Market Leaders• One new supplier added

Wealth Client Management Systems Market Leaders • Three supplier entries updated• One new supplier added

Financial Planning Tool Integrations• Two new suppliers added

Mortgage Client Management Systems Market Leaders• One supplier entry updated

Client Portal Market Leaders• One supplier entry updated

Risk Profiling Market Leaders• One new supplier added

Quotation Portal Market Leaders• One supplier entry updated• One new supplier added

Investment & Pension Market Leaders• One supplier entry updated• Two new suppliers added

Mortgage & Protection Market Leaders• One supplier entry updated• Two new suppliers added

Wealth Client Management Systems Market Leaders • Two supplier entries updated

Client Management Systems – Platform Integrations• One supplier entry updated

Non-client Management System - Platform Integrations • One supplier entry updated

Client Management Systems – Life & Pension Integrations• One supplier entry updated


Client Portal Market Leaders• Two supplier entries updated

PFM Market Leaders & Functionality• Two supplier entries updated



Mortgage Sourcing Market Leaders• One supplier entry updated




June 2017 July 2017 August 2017

Investment & Pension Market Leaders • One new supplier added

Mortgage & Protection Market Leaders• One new supplier added

Wealth Management Market Leaders & Functionality• Two supplier entries updated

Client Management Systems – Life & Pension Integrations• Two supplier entries updated

Risk Profiling Market Leaders & Functionality• One new supplier added


Quotation Portal Market Leaders• One new supplier added

Quotation Portals• New content added to report


Non-client Management System - Platform Integrations • Two supplier entries updated

Non-client Management System – Life & Pension Integrations • Two supplier entries updated

Financial Planning Tool Integrations • One supplier entry updated


Client Portal Market Leaders• Two supplier entries updated• Two new suppliers added

Portfolio Rebalancing Market Leaders• New content added to report• One new supplier added


Mortgage Sourcing Market Leaders• One supplier entry updated

Wealth Management Systems Market Leaders • Three new suppliers added

Investment & Pension Back Office and Client Facing Tools• New content added to report• One new supplier added

Investment & Pension Financial Planning & Research Tools• New content added to report• Five new suppliers added

Protection Market Leaders• Tables in this section segregated for additional clarity• Three supplier entries updated

Mortgage Market Leaders• Tables in this section segregated for additional clarity

Wealth Client Management Systems Market Leaders • One supplier entry updated

Client Management Systems – Platform Integrations• One new supplier added

Financial Planning Tool Integrations • One new supplier added


Client Portal Market Leaders• One supplier entry updated

Cash Flow Modelling/Retirement Planner Market Leaders• Three new suppliers added

Portfolio Analysis• New content added to report• Two new suppliers added

Rebalancing Market Leaders• One new supplier added


Mortgage Sourcing Market Leaders• Two supplier entries updated




September 2017 October 2017 November 2017

Investment & Pension Back Office and Client Facing Tools• One new supplier added


Non-client Management System - Platform Integrations • One new supplier added

Client Portal Market Leaders• One new supplier added

Cash Flow Modelling/Retirement Planner Market Leaders• Three supplier entries updated• One new supplier added

Portfolio Analysis Market Leaders• One supplier updated• One new supplier added

Portfolio Rebalancing Market Leaders• One new supplier added


Wealth Management Systems Market Leaders • One supplier entry updated

Investment & Pension Financial Planning & Research Tools• Two new suppliers added

Mortgage Market Leaders• Two supplier entries updated• Two new suppliers added


Non-client Management System - Platform Integrations • One new supplier added



Portfolio Analysis Market Leaders• One new supplier added

Portfolio Rebalancing Market Leaders• One new supplier added

Mortgage Application Market Leaders• One new supplier added

Mortgage Application Lender Accessibility• New content added to report

Investment & Pension Financial Planning & Research Tools• Two supplier entries updated



Cash Flow Modelling/Retirement Planner Market Leaders• Two new suppliers added

Switching Analysis Market Leaders• One supplier entry updated


uk adviser software market assessment - finance ......2018/06/18 · f&trc are to provide the...

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