When I think about the future of financial advice, one word continues to rise to the surface: data. Advisers who embrace data-driven insights understand their clients better, make more informed decisions, while enhancing their practices.
And yet, many advisers are still grappling with how to harness data meaningfully. I’ve been fortunate to work with data and technology for some time now, and I’d like to share some thoughts on how we can turn this potential into progress.
At INN8, we talk a lot about how advisers can unlock deeper value through data. Why? Because today’s clients expect more than just investment recommendations - they want holistic advice. They want to feel seen, understood, and supported through all stages of their financial journey.
To do that effectively, we must understand our clients beyond just their basic details. What are their goals, aspirations, and concerns? What life stage are they in? What financial behaviours are they exhibiting? This is where data becomes truly valuable - not just for reporting purposes but for building stronger client relationships.
For me, data isn't just about numbers and dashboards - it's about telling a story. It’s about connecting the dots in a client’s financial life so that you, the adviser, can add deeper insight, more relevant and specific value.
I often hear people talk about “big data,” but I believe what we really need is smart data, the right data, in the right context, at the right time.
When we understand the “why” behind the data, we begin to unlock powerful insights. We can anticipate client needs, personalise solutions, and even enhance the overall client experience. Whether it’s understanding asset flows, client engagement patterns, or behavioural trends, smart data enables better decision-making at every level of your practice.
More and more people are using data tools to communicate their findings clearly. For financial advisers, these tools can help you better understand your clients and share insights in a way that's easy to grasp. As an example, instead of manually cleaning data, organising it, and creating reports, you can leverage tools like Excel’s macros, Power BI, and AI which will help automate the entire process - from data analysis to generating insights. This way, you not only save time but also deliver bespoke, data-driven reports more efficiently, allowing you to focus on what truly matters: delivering value to your clients.
At INN8, we’re building a platform designed with the adviser in mind - tools that don’t just collect data but help you interpret and act on it. We create adviser reports that offer a single, comprehensive view of each client. Using technology and data as an enablers, advisers can provide reports that are client specific e.g. high level reports for the clients that just want to have a brief overview of their portfolio values versus more detailed and analytical clients that want to know the value of each portfolio, the asset allocation, the investment growth over the last 1 year or since inception. Our goal is to make this information intuitive and actionable.
But it’s not just about technology. It’s about partnership. When we develop features or products, we involve advisers from the outset. We gather insights on what data matters most to you and design solutions that fit the reality of your practice. It’s about co-creating a data-driven experience that supports you - not overwhelms you.
As an example, data becomes an actionable insight when it is analysed and used to guide decisions. For example, a client's bank statement may reveal recurring high expenses, prompting an adviser to suggest budget adjustments to stay on track with financial goals.
Feedback that we often receive from smaller advice practices is: “We know data is important, but we don’t have the time, the skills, or the resources.”
I get it. Many practices are lean, focused on clients, and juggling multiple priorities. But the good news is, you don’t have to do it all on your own. That’s exactly why platforms like ours exist, to help simplify and centralise your data experience.
That said, I also recognise that no adviser operates on a single platform. You might use INN8, but you also use other tools or providers. That fragmentation can be frustrating. You’re trying to serve clients holistically, but your data is scattered.
There's no quick solution yet, but the industry is moving toward better systems that work together seamlessly. In the meantime, our aim is to offer you as much clarity and control as possible, starting with the data that sits right in front of you.
Of course, we can’t talk about data without mentioning artificial intelligence. Every week, new AI tools are being released. It’s a bit like our smartphones, there’s always a new update or feature just around the corner.
"AI isn’t here to replace advisers. It’s here to support you."
I see AI as an enabler. It can help you automate routine tasks, uncover patterns in client behaviour, and even assist with compliance and reporting. But the human connection, the empathy, the trust, and the relationship is something no algorithm can replicate. And that’s where you’ll always have the upper hand.
Our job is to give you more time to do what you do best: build relationships and guide your clients with wisdom and care.
Clients expect you to have a complete understanding of their financial lives, not just bits and pieces. That’s why I believe data is key in terms of how you engage and serve your clients. It’s not just a business advantage, it’s a client expectation.
Whether you’re at the start of your data journey or already well along the path, there’s opportunity in every step forward. With the right support, the right tools, and the right mindset, I truly believe you can drive growth both for you and your clients with data being at the core of your practice.