A big step forward for better data, but adviser failure to embrace data aggregation may see banks take advantage in the advice market

Posted by Ian McKenna | Apr 14, 2026 | Insights | 0 |

This morning the FCA announced how they plan to unlock unprecedented amounts of money sitting in low-interest accounts and make it easier to move them to investments. The critical question is who will do the moving? Advisers look set to lose out unless we see a dramatic change in behaviour and urgent action from their technology suppliers.

The FCA Open Finance roadmap published this morning, outlines the regulator’s plans to implement a Smart Data strategy which has had cross party support since the start of the decade.

Advisers can login for FREE to access our detailed analysis, key functionality and supplier contact details.

About The Author

Ian McKenna

Ian founded Financial Technology Research Centre in 1995 nearly two decades before “FinTech” became part of the industry lexicon. A boutique consultancy the firm focuses on how personal finance organisations can communicate more effectively with their customers and help them take better financial decisions. As part of this work the firm work with many of the U.K.’s leading long-term savings institutions, financial advisers and technology providers to identify emerging technologies that can transform customer relationships. More recently the firm has added its own InsureTech and RegTech ventures to help advisers ensure they help consumers find the life insurance and workplace pensions solutions that best meet the needs. In addition to developing a UK view Ian travels extensively to identify similar trends around the world and the lessons that can be learned from other countries.