Financial advice firms have spent years moving client paperwork online, but for many the underlying process has changed less than the screens suggest. Information captured in a portal is still downloaded, checked and typed again into a CRM, and then again later in the advice journey.
Joe Power, Chief Operations Manager at Centology, argues that the fix lies less in new front ends than in what happens to data once it has been captured. Power joined Centology in 2020 and leads product strategy, technology and operations across its AI-powered wealth management solution.
Centology was built out of an adviser’s frustration. Its founder, David Stamp, spent more than 30 years working in financial advice and, Power said, “became increasingly frustrated by fragmented systems, duplicated data and the manual intervention needed to move a client through the advice process.”
That produced what Power called “a clear ambition: to create a more connected technology environment where information can be captured once and used throughout the client relationship, rather than repeatedly re-keyed into different systems.”
The platform brings together CRM, a client portal and app, workflow and orchestration technology, case management, AI tools, meeting capture and minutes, documents, communications, reporting and integrations. “Pulse, our intelligent orchestration engine, allows firms to configure workflows around how they operate, coordinate journeys from start to finish and support straight-through processing where integrations permit it,” Power said. “Our role is to sit at the heart of the adviser technology ecosystem, connecting the client, adviser, process and data while working with the other technology firms need.”
Online is not the same as digital
Onboarding is where Power sees the most common mistake. “One of the biggest mistakes is assuming that putting a paper process online automatically makes it digital,” he said. “A client may enter information into a portal or digital fact-find, but if somebody then has to download it, check it, copy it into the CRM and re-enter parts later in the advice journey, the process remains largely manual.”
Getting it right, in his view, means following the information after it has been captured, so that client data feeds the CRM, workflow, case management, documents and AI tools without being entered twice. Pulse coordinates the tasks, people and integrations around that journey and, where platform and provider connections support it, straight-through processing can take it beyond Centology itself. “The goal is one continuous client journey, rather than a collection of disconnected digital experiences,” he said.
Client expectations are moving the same way. “Clients increasingly expect instant, convenient access to their financial information, with current valuations and documents readily available through straightforward digital channels,” Power said. They also expect easier communication with their adviser and quicker answers when they need support.
“Advisers add most value when they are interpreting a client’s circumstances, applying professional judgement and helping people make important financial decisions,” he said. “Too much time can still be lost to document chasing, re-keying data, writing up meetings and managing information across separate systems.”
In Centology’s case, clients interact through the portal or app and that information feeds the CRM and the wider advice process. Meeting capture and AI-supported tools turn conversations into records, and CaseHub moves information gathered during onboarding and meetings towards analysis, recommendations and suitability. Power was clear about where the line sits. “Technology can make the process more efficient, but the human role remains central. Advisers and their teams still provide the judgement, context and empathy that clients rely on.”
Where the savings are
For wealth managers squeezed on cost and client experience at the same time, Power points to repeated work rather than grand projects. “If a client has already provided information, it should not need to be entered again later. If a meeting has taken place, the outputs should be easier to capture and use. If one activity naturally creates the next step, the workflow should help move that forward,” he said. “These tasks may seem small individually, but across hundreds or thousands of clients they can create a significant operational cost.”
He sees AI playing “a significant role” in wealth management, “particularly where it is connected to real business processes and supported by good data.” The near-term uses he lists are practical: extracting information from documents, summarising data, producing meeting outputs, drafting communications, identifying missing information and supporting administrative or compliance work. The greater value, he said, comes when those tools work with what the firm already holds on the client. “For example, a meeting may update the client record, inform the case, trigger the next task and highlight areas requiring review.”
He is equally direct about the risks. “Financial advice is regulated, personal and built on trust, so controls, oversight and auditability are essential,” Power said. “Firms need to understand how data is being used, how outputs are produced and where professional judgement is required.” UK advice firms have operated under the FCA’s Consumer Duty since July 2023, which requires them to deliver and evidence good outcomes for retail customers.
Adoption, in his experience, is decided on the ground. “Digital transformation only works when the technology fits the way people actually work,” he said. “Firms can introduce a new CRM, portal, app, workflow tool or AI capability, but adoption will be limited if it adds complexity or creates another system for teams to work around.” Advisers, paraplanners, administrators and compliance teams should be involved early, he argues, because they know where duplication happens and where time is lost. The benefit also has to show quickly. “If information that was previously entered three times can be entered once, or if a long manual process becomes a shorter managed workflow, people can see the benefit in their day-to-day work.”
Centology’s next stage, Power said, “is about deepening the connection between those areas so information captured once can continue working throughout the client lifecycle.” In practice, an onboarding journey or client conversation would update the client record, feed into a Review Agenda and move into CaseHub to support recommendations and suitability, with Pulse orchestrating the wider workflow. The company’s AI capabilities are built into the platform rather than running as separate external tools.
For the wider market, he points to a shift from technology that stores information to technology that can actively use and orchestrate it. “For too long, people have had to act as the integration layer between disconnected systems,” he said. “The opportunity now is to let information flow more intelligently while keeping skilled people focused on judgement, expertise and client value.”
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