Go with the flow: Less platform coverage and AI integration being used to streamline

According to Investment Trends’ 2025 Adviser Technology Needs Report, the average number of platforms used per practice has dropped to 2.0 in 2025, continuing what has been a steady decline in the number used since 2022 (3.0).

Similarly, 71 per cent of new client inflows are now being directed into the adviser’s primary platform, up from 65 per cent in 2022.

Speaking to ifa, Cameron Spittle, director at Investment Trends, highlighted some key trends indicated in this data: “Advisers are no longer spreading flows across multiple platforms.

“They’re looking to continue to drive efficiencies in their business. Therefore, aligning to the one or two platforms that integrate with their business more seamlessly is a really important thing for them to think about.”

A core reason for efficiency and simplicity is the scaling many advice firms are undergoing, with an influx of private capital facilitating an increasing number of mergers.

As the scale of a firm grows, the need for simplification and streamlining grows.

“There’s a clear theme around the size of advice practices, and they’re starting t, there’s a need to make decisions around what the systems they use and the platforms they use to drive an efficient business, just like anyone would,” Spittle said.

One avenue that can drive efficiency is smart and targeted investment in new technology, with the data showing 23 per cent of advisers now prefer a single, end-to-end solution, up from 18 per cent last year.

Similarly, nearly the same proportion (22 per cent) favour open architecture with seamless integration.

“However, a significant 36 per cent remain agnostic, and another 9 per cent are unsure of their ideal set-up,” Investment Trends said.

Perhaps the best placed technology to assist advisers in this scaling is platform-based AI, yet many firms are lacking on this front. Though 61 per cent of advisers are now using AI in their practices, they are mostly through third-party platforms and are used for simple tasks.

“I do see AI playing a role in client engagement,” Spittle said. “I’m hopeful that AI frees up capacity for advisers so they can spend more time with clients, which is what they like doing.”

This could be achieved by delegating necessary but repetitive workflows such as document generation, client follow-up emails and compliance checks to an AI system designed for the practice, freeing up more face-to-face time.

Core to integrating AI into a firm’s workflows is understanding how one’s own practice works, through methods such as understanding spaces where human errors are occurring, what tasks take up the most time, and ensuring you are compliant with any regulations.

“When asked about their preferred access points for AI, advisers favour integration within their advice software, especially for client-facing and strategic tasks,” Spittle added.