Launching the Woven Market Map

The Woven Advice Tech Market Map: Connecting the wealth and advice tech eco-system in the UK

London, 22 January 24

Woven Advice is proud to announce the launch of Market Map, a platform designed to transform the way advisers discover and interact with the latest solutions in Advice and Wealth Technology across the UK. This collaborative, free service caters to the increasing demand in tech awareness and focus in a market witnessing increasing regulation, unprecedented consolidation and a flurry of new supportive technology solutions.

Keeping up to date with the latest tech trends has become a challenge for all firms. In 2023 alone the industry saw the emergence and adoption of over 20 new tools designed for the modern financial adviser’s practice. 

This is only the start of the financial advice tech (FAT) boom, with 5 new solutions already emerging in 2024 and set to double by the end of the year thanks to advancements in modern technology and next-generation AI services.

Recognising the challenges industry players face in navigating this rapidly expanding space, Woven Advice, with its experience in building market relationships and integrating solutions for data portability and accuracy, has created Market Map. 

Market Map goes beyond being a mere technology directory. It is a comprehensive ecosystem where advisers can also connect with consultants and services who often make the adoption of this tech feasible to the lean advice firm. The range of services spans from marketing and design to bespoke development and business outsourcing, catering to diverse needs within the industry.  Not only does it share information about technology - the goal is to make the Market Map a one stop shop to find help for advice practices.

Market Map investigated a range of 93 different tools commonly used by advisers to service clients and discovered a number of insights along the way:

• 17 different apps can be used for CRM tasks by advice firms
• 18 providers are targeting automation and time savings for advisers
• 9 tools are publicly incorporating AI into their products
• 6 solutions are creating disruptive tech that could revolutionise the way advisers work 

Advisers can access Market Map entirely for free and are encouraged to sign up for market updates and news, staying abreast of the latest trends and innovations. For providers, Market Map offers a complimentary listing option as well as a premium listing for additional exposure, ensuring a holistic and unbiased directory service.

Woven Advice’s initiative in launching Market Map is a game-changer for the Advice and Wealth Technology sector in the UK, fostering a more connected, informed, and efficient industry landscape.

About Woven Advice:

Woven Advice is at the forefront of integrating and enhancing advice and wealth technology solutions. With a focus on improving data portability and accuracy, Woven Advice is not just a service provider but a catalyst for industry-wide improvement and innovation.

Woven Advice  launched their tool in 2023 to revolutionise the way financial advisers view and utilise their data. Seeking to create a frictionless and seamless flow of data between back-offices, productivity tools, investment providers and tools essential for the financial advice space to perform its tasks. Founders Nicky and Oli, have spent decades working with advice data and different advice tech systems.

“Our company values are to collaborate and support each other in the community. So we decided to share our knowledge with you. For free.” - Nicky Sevel CEO

Contact:

Nicky Sevel

07462942310

nicky.sevel@wovenadvice.com