FASA 2025
Technology and Software Provider

Technology and Software Provider

FT Adviser reported in October — from a poll conducted this year — that poor decisions are the biggest concern for readers when it comes to artificial intelligence. Alongside this, the annual cost of compliance for the advice sector was nearly £6bn, according to Model Office’s Cost of Compliance report, which was released in November.

A few days later it was reported in FT Adviser's sister publication the Financial Times that UK cyber insurance claims tripled in 2024, according to data from the Association of British Insurers.

This comes as many in the industry are working hard to complete due diligence necessities with the complexities that have arisen around artificial intelligence.

The upside of the innovations are that technology and software providers will have more work in line with checking their offerings, and this will keep them busy. Providers in this area have done well at the awards this year.

Many newcomers to the industry providing technology and software innovations did very well.

In 2024 five companies won five-stars, whereas there are seven this year. Similarly, in 2024 there were six four-star winners compared with eight in 2025.

Prestwood led the winners with their Truth software, followed by Pension Lab, which was Readers’ Choice at the awards this year, and Seccl, which was Most Improved of the technology and software providers. Voyant also rose from four-stars to five-stars this year.

Dynamic Planner and Iress, which both got five-stars last year, were rated four-stars this year due to the influx of newcomers to this category.

Adam Leci, technical consultant for Truth software at Prestwood, which topped this year’s list with five-stars, said their software is “the only tool that is entirely lifestyle-driven”.

He explained: “Rather than focusing on income needs, withdrawal rates or product sales, Truth shows a simple and uncomplicated picture of whether a client's future lifestyle is affordable, or not.

"If not, we provide the tools to help plan collaboratively with clients to ensure they understand their finances and can achieve all their goals and objectives. 

“Where clients have too much, we can help give them the confidence to spend or gift more, with the reassurance of knowing they won't have to compromise on their lifestyles.

"This is why our software is called Truth: because it shows clients the truth about their money, no matter what that might be.”