In a poll of 207 advisers, the research revealed 29% of advisers felt cashflow modelling was the tool that could make the most difference.

The robo-advice or self-service route was less popular, endorsed by just 10% of those advisers surveyed as having a role to play in closing the advice gap.
 
In a follow-up question on how they use technology, advisers were asked: “What’s most important to you when using a provider pension portal?”

Answers to this question were mixed as 32% highlighted an “intuitive user-friendly design” as the top requirement, followed by “ease of onboarding/transferring clients” at 26%.

“Speed of service” was less important at 12%, suggesting that quality was the priority.
 
Justin Taurog, deputy CEO of VitalityInvest, said: “The right technology has the potential to significantly streamline advisers’ administrative processes, freeing up time for them to focus on the areas where they can add most value – namely offering bespoke, relevant advice.

“Building a platform that does the basics well is what we believe is key.

“This backs up our own experience and our VitalityInvest platform has received excellent feedback from advisers on the speed and simplicity of ISA and pension transfers.”