This comes at a time where being a financial adviser is more complicated than ever, with compliance and financial costs weighing more heavily than ever before.
But according to some, technology is putting self-licensing well within grasp.
“Across our customer base, self‑licensing is far more achievable than it was historically, largely because technology can now support a lot of the operational and compliance foundations that used to sit exclusively with licensees,” Pria Hussain, customer success manager at advice technology platform provider intelliflo, told ifa.
“A lot of the infrastructure layer can now be replicated, and in some cases improved, through modern advice platforms.”
ASO Wealth is one advice practice that has used technology to facilitate their self-licensed status, with founders Julien Renard and Nazar Pochynok both highlighting their belief that new advice tech is core to simplifying the process.
“We kept asking ourselves, ‘why are we being limited?’ We’ve got our values, we’ve got over 10 years of experience, and we have a clear view on what the future of advice should look like,” Pochynok explained.
“We didn’t want to be held back by someone sitting above us saying, ‘that’s not how we do things’, just because they need to keep hundreds of other advisers in line.”
Renard added: “We spoke to a number of licensees and, naturally, they all said, ‘you’d better come on board because doing it yourself is a lot to manage.’ There was a lot of emphasis on the risk and the workload.
“But when we actually sat down and went through what was required with the right support, we looked at each other and thought, ‘this doesn’t seem that hard – let’s just do it.’”
Hussain further explained where she believes ASO has succeeded: “What ASO Wealth does particularly well is pairing the right systems with clear ownership and discipline.
“The technology supports consistent client data capture and engagement, advice documentation, and oversight, but it doesn’t replace responsibility, it reinforces it. That’s the pattern we see with firms who are successful in this space.”
She also stated that this introduction of technology not only removes the sometimes-restrictive infrastructure of a licensee, but enhances the client experience.
“The biggest change is that the client experience is becoming far more continuous and less transactional,” Hussain explained.
“Onboarding is no longer just about getting someone ‘set up’. It’s about capturing data once, using it across multiple advice processes, and reducing friction for both the client and the advice firm. When done well, it sets the tone for the entire relationship.”
She added: “Ongoing engagement has also evolved. Technology now allows firm teams to stay closer to clients between reviews, whether that’s through proactive reminders, clearer visibility of progress, or more consistent follow‑ups.”
For Hussain, the advice practice of the future, particularly the ones that succeed in being independent, is one that is intentional about its technology stack while keeping clients at the centre of their practice.
“It’s not about having the most tools, it’s about having the right ones, clearly aligned to how the firm actually works,” she said.
“Core systems handle client data, advice workflows, and governance, while other tools play specific, well‑defined roles for example a secure client portal to enhance client engagement.”
Hussain concluded: “Automation removes repetitive work. AI supports monitoring, oversight, and exception management. And teams spend less time managing systems and more time focused on clients.
“Importantly, compliance and quality are built into everyday processes, not managed separately. When technology is set up that way, it supports growth without compromising control, which is exactly what advice businesses are trying to balance.”
