Advice firms are investing in technology, but adoption isn’t keeping up
This is article 4 in our 6-part series which explores the operational challenges shaping growth for wealth management firms across the UK. Developed from our work alongside ambitious firms, it brings together key themes, pressures, and priorities we’re seeing across the market.
Most firms take a logical approach when choosing technology. A firm migrates to a different back office system, launches a new platform, or invests in a new client app because it looks right on paper. The harder questions come afterwards. Does it become part of how advisers and support teams actually work, and will they use it?
That gap between rollout and real usage is not limited to financial services. The UK Government’s Technology Adoption Review found that the UK ranked fifth in the Global Innovation Index 2024, but only twelfth for knowledge diffusion.¹ In other words, acquiring or developing technology is not the same as using it properly across the business.
Adoption drops when the system sits outside day-to-day work
Most firms do not struggle with adoption because teams are resistant for the sake of it. The issue is usually more practical than that.
If a system feels slightly outside the normal flow of work, people start to work around it:
An adviser goes back to email because it feels quicker and easier.
A support team member keeps a local process going because it is familiar.
A document is shared through an older route because it avoids an extra step.
This shows up in adviser research too. NextWealth found that nearly 75% of advisers made changes to their technology during 2024, yet only 26% said they were satisfied with their current tech stack.² That suggests the challenge is no longer just accessing technology, but whether it fits well enough into day-to-day processes to be used consistently.
Uneven adoption slows things down
Once usage becomes patchy, the firm ends up running two processes at once: the intended process, and the process people actually follow.
That matters because inconsistent use can erode the value of the system very quickly. When some things happen in the system and some outside of it, visibility drops and consistency breaks down.
FE fundinfo’s 2024 Financial Adviser study shows why firms keep investing despite this. It found that 55% of advisers had increased spending on technology over the previous year, and 40% planned to increase spending again over the next 12 months.³ The appetite to improve is clearly there. The harder part is turning that investment into processes that are actually followed.
Why rollout is not the same as adoption
A new technology system can be live and still not be integral to how the firm operates.
This is reflected in Innovate UK Business Connect’s 2025 financial advice and wealth management report, which notes that even when technologies are implemented, many advice firms face challenges in using them effectively. The report says this uncertainty leads to systems not being used properly , so firms don’t get the full benefit.⁴
That is an important distinction. A rollout may be complete, training may have happened, and the system may be technically available. But if people still treat it as optional, the firm carries the cost of change without gaining the full operational benefit.
What stronger adoption looks like
Adoption improves when technology feels easy to use, not like extra work.
For wealth management firms, this usually means communication, document sharing, and client interaction happening in one place, in a way that becomes the default way of working. The goal is not to force behaviour through policy alone. It is to make the platform useful, connected, and relevant enough to the adviser process that people choose to use it consistently.
When that happens, the operational benefit becomes clearer. Processes are easier to oversee. Communication is easier to follow. The client experience becomes more consistent because the system is reinforcing the workflow rather than competing with it.
What this looks like in practice
Launching technology isn’t enough if it’s only used occasionally. It needs to become part of everyday work, particularly around secure communication, and other client facing workflows.
Moneyinfo client, Town Close is a good example of what strong adoption looks like over time. As they put it:
“We’ve been on a journey with Moneyinfo and they are part of our future. It’s the way we do business now and I can’t imagine how we’d ever do it without them.”
Alan Flack, Town Close
In Town Close’s case, the use of Moneyinfo expanded over time from aggregated valuations into broader business processes and secure communications.
Want to know if your firm is getting the most from its technology?
Then join Industry Insights Webinar: 6 opportunities wealth managers must be aware of.
It is a practical way to step back and see where pressure is building across the business. We’ll look at six common problem areas that often lead to inefficiency, inconsistent service, and growing compliance strain. If even one sounds familiar, this session will help you see what’s really going on and where to focus next.
Ready to review your current setup now?
Book a discovery call to identify where adoption is falling away, and see how Moneyinfo can help you get more from your existing technology.
Sources:
¹ https://assets.publishing.service.gov.uk/media/6857e0995225e4ed0bf3ceb5/dsit_technology_adoption_review_web.pdf
² https://nextwealth.co.uk/financial-adviser-tech-key-trends-shaping-the-uk-financial-advice-industry-in-2024/
³ https://www.fefundinfo.com/insights/financial-advisers-increase-technology-spending-in-pursuit-of-operational-efficiency-and-client-engagement
⁴ https://iuk-business-connect.org.uk/wp-content/uploads/2025/02/Future-Finance-%E2%80%93-Technology-Insights-Series-Financial-Advice-and-Wealth-Management-compressed.pdf