The partnership will enable international financial advisors to implement investment propositions across their client books.

UK wealth manager Brooks Macdonald, with £21.7 billion ($29 billion) total funds under management and advice (FUMA), has entered into a new partnership with Woven Advice which builds data infrastructure for the financial advice sector. The partnership will enable international financial advisors (IFA) to implement investment propositions across their client books.

Although IFAs have long had access to tools for researching and constructing a central investment proposition, the firm said rolling that proposition out across a book of clients had been more difficult and taken longer when done manually.

Woven brings platform, product and investment data into a single view, so that a firm can assess its entire book against its customer identification programme (CIP) in the time it currently takes to review a handful of clients, the wealth manager said. Personalised suitability reports and client communication tools then carry that assessment through to each client individually.

Woven Advice's solution was developed with direct input from advisors and paraplanners at Brooks Financial, whose experience of implementing an investment proposition in practice shaped how the technology handles client-by-client recommendations. Brooks Financial is already using Woven, alongside a number of IFA firms within the Brooks Macdonald partnerships programme.

“Partnering with Woven allows us to enhance our service proposition through innovative technology, while staying true to the advisor-led approach that our clients value,” Andrea Montague, CEO of Brooks Macdonald, said.

"Good advice is often let down by the infrastructure behind it,” Nicky Sevel, CEO of Woven Advice, added. “Data sits in different places, reviews take longer than they should, and clients end up paying more than they need to. Woven exists to fix that – cutting the cost clients carry and giving advisors their time back. Working with Brooks Macdonald lets us do it at real scale, with a firm that shares our view of what advisors should be spending their day on."

Woven Advice gives advisors and paraplanners a normalised view of their client book and automates the administrative work of platform and investment switching, aiming to reduce the fees clients pay and the time advisors spend on administration.