NextWealth publishes results of Advice Tech Stack reviews

NextWealth has published the results of its latest Advice Tech Stack: Adviser Reviews, which asks financial advice professionals to grade each part of their firm’s tech stack.

Advisers were asked to consider integrations with other tech, the support provided, their willingness to recommend the technology, and value for money.

Four platforms achieved an overall rating of four or above out of five, with Fundment coming out on top with a score of 4.83.

Fundment scored four or above on every criterion, with P1 the only other platform to achieve this feat coming in second with a score of 4.55.

Quilter came in third with a score of 4.12 and Scottish Widows was fourth with a rating of 4.08.

“Fundment is the highest-rated platform in our report and sits 0.28 points clear of second place,” said NextWealth founder and CEO, Heathr Hopkins.

“It is also the only platform to score four or above on all criteria in all four years we have been measuring this.

“Quilter, with £117.9bn in assets under administration, is managing to deliver excellent tech and support at scale – that’s quite a feat.”

The analysis also highlighted the emergence of two ‘stand-out’ trends: slowing adoption of new tech and value for money proving to be the strongest pull factor for platform choice.

Just 13 per cent of firms surveyed planned to add a new technology partner in the next 12 months, down from 34 per cent in both 2024 and 2025.

NextWealth noted that tech adoption had previously risen in response to external factors, such as the Covid-19 pandemic, regulatory change, and the rise of generative AI.

It added that this did not indicate a move away from technology, but rather that firms were intentionally slowing down the rate of adoption of new technology.

“It’s a deliberate strategy,” Hopkins stated. “Smaller firms describe consciously holding back rather than chasing every new development. Or as one sole trader we spoke to put it – I’d rather let bigger firms make the mistakes and I’ll just follow.”

Value for money was found to have the strongest correlation to asset growth of any criterion measured, ahead of service, integration, or willingness to recommend.

“We wanted to understand whether user reviews correlate to asset growth and we found a positive relationship between the average user review score and asset growth,” Hopkins added.

“Integrations may be an ongoing ource of frustration, and we’ve seen that persist from one report to the next, but perceptions of value are more likely to influence where advisers increase assets.”

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