Woven close fundraising for integrated advice data management solution

Woven Advice, an innovative advice tech company providing an integrated data management solution for financial advisers and wealth managers, is thrilled to announce the close of their SEIS funding round led by Fuel Ventures, with an EIS tranche to follow this quarter. 

Committed to solving the financial advice data problem that plagues the industry, driving up costs and inefficiencies, Woven Advice aims to revolutionise the way advisers access and leverage their back-office data through a unified, integrated data solution.

Founded by former Iress colleagues, Nicky Sevel and Oli Brown set out with the vision to solve financial advice inefficiencies by solving the advice data challenge with an end to end integrated data management solution for advisers and wealth managers. 

Over 25 million individuals in the UK could benefit from financial advice, but for the inefficient and costly activities financial advisers will be able to automate with Woven’s technology. Data is often manually keyed between 10 or more systems by more than 5 individuals. This unnecessary overhead blocks advice professionals from taking on more clients and growing their businesses.

By assisting advisers and wealth managers with data portability, Woven are helping businesses transform their practices, from data cleansing, through to acquisitions. Starting with MI and data dashboards, firms receive easy access to their back-office data, cutting time to produce MI and meet consumer duty requirements. For firms on the acquisition journey, or acquiring other firms, Woven provides a data aggregation layer, to help with data due diligence and providing consolidated reporting to parent companies.

“Advisers are held back by the quality of their data and their inability to fix it. Moving into the AI age, firms must start with clean data and quality integrations to stay competitive and benefit from the potential efficiencies” said Sevel.

To date, Woven Advice has had support from a number of key advice firms and consolidators. They’ve built out robust integrations with Iress Xplan and Intelliflo, with Plannr, Time4Advice and a number of key popular platforms on its near term roadmap.

Sevel, a former planner, has worked across a number of adviser technology solutions including Xplan, FE Analytics and CashCalc as well as in-house at large wealth managers. Passionate about data and integrations, Woven are focused on collaboration in the industry, to “level-up” the current standard of software and integrations in the market. As a reflection on its brand values, Woven has released the Woven Market Map, a free website where advisers can discover new and existing technology products, and experts best placed to implement them.

Supported by Innovate UK with grant funding, along with the Founders Factory Accelerator program, this fundraising round represents the first external money the founders have taken into the business. 

Woven Advice welcomes advisers wishing to improve their data quality and speed up MI reporting to get in contact and arrange a free trial on their website: (www.wovenadvice.com).

About Woven Advice - Woven Advice is a cloud based technology solution that interrogates, reports and fixes back-office data for financial advisers. By automating data processes and reducing manual keying, Woven Advice aims to enable financial advisers to reduce costs and enable AI for better client outcomes.

Contact - Nicky Sevel, CEO and Founder. nicky.sevel@wovenadvice.com