Clean compliant data is key to success platform switching
Whether you're preparing to sell your advice firm - or looking to acquire one - your data can make or break the deal.
For acquiring firms, platform-switching software only works as well as the data you feed it. For selling firms, having clean, structured client data is essential to securing a strong valuation and completing the deal quickly.
In this guide, we cover how advice firms can prepare their data for sale and how acquiring firms can ensure a seamless platform switch with minimal disruption.
Before any sale, buyers need to understand what they’re purchasing - and that starts with good business metrics.
Financial advice firms preparing for sale should be able to show:
Slicing this data or excluding specific segments (e.g., clients over 80 or those with under £25k in AUM) makes your business easier to analyse and more attractive to buy. For acquiring firms using platform-switching software, it also makes segmentation and migration planning far more manageable.
One of the top causes of delays during advice firm acquisitions is data extraction.
Sellers often underestimate how long it takes - on average, up to 3 months - to compile the datasets needed for early-stage due diligence. For acquiring firms ready to switch platforms and onboard clients, waiting months for usable data can be a dealbreaker.
That’s why sellers should prepare:
For acquirers, when used in tandem with switching software, clean data can radically reduce onboarding timescales and ensure a smoother transition.
During due diligence, acquirers want a full view of the business - not just CRM data.
Expect to review:
A firm that has this organised - digitally and accurately - is far easier to assess and onboard onto your platform of choice.
Whether staying on the same back-office system or switching to a new platform, data cleansing is non-negotiable.
It’s not just about removing duplicates. Acquirers should be prepared to:
This process, done early, ensures your platform switching software can map and migrate clients correctly - and avoids significant delays or errors down the line.
Many smaller firms operate without a dedicated back-office system. This doesn't rule them out but makes the sell/purchase more challenging.
Without structured systems:
Acquirers should plan for additional onboarding time and consider building a pre-migration mini project to standardise key client records before a platform switch begins.
The FCA’s Consumer Duty has raised the bar on evidencing ongoing servicing and suitability. For acquirers, this means reviewing far more than financials.
Be ready to assess:
These areas often aren’t accurately tracked in legacy systems. Firms may need additional checks or data cleanse sessions before your platform-switching software can handle the transition.
After acquisition, consolidating platforms is one of the fastest ways to reduce costs and improve client outcomes.
However, selling firms often come with a long tail of provider relationships. Acquirers should:
These checks ensure a smoother integration post-acquisition and give clients access to better pricing via institutional agreements.
Good Data = Good Deals
In M&A, clean data closes deals. Anything less slows them down.
If you're an acquiring firm investing in platform-switching software, ensure the firms you're onboarding are data-ready - or give them the tools to get there.
And if you're preparing your advice firm for sale, don’t wait until you have an offer. The earlier you start cleansing and structuring your data, the better the outcome - for you, your clients, and your buyer.
👋 Need help simplifying platform transfers post-acquisition?
We provide the switching software and services that acquiring advice firms need to streamline onboarding, reduce out-of-market exposure, and stay compliant under Consumer Duty.