Iress, a wealth management software provider, has announced a strategic partnership with Thoughtworks, a global technology consultancy, aimed at accelerating platform modernisation and enabling AI-driven growth across its wealth businesses.
The collaboration will see clients begin benefiting from the changes in the second half of 2026, with Iress working to modernise its core platforms, streamline its technology architecture and build out new growth capabilities. The partnership is structured to operate within a disciplined research and development capital envelope of 5–7% of revenue.
The partnership will concentrate on four key areas: operational excellence, including improving delivery speed and reducing complexity; client-led product innovation, focused on data-driven features that ease manual workloads and support adviser productivity; targeted platform modernisation using a staged, modular approach that steers clear of large-scale replatforming; and data and AI-driven value creation, embedding artificial intelligence to unlock Iress’ proprietary data and support evolving advice models.
Iress group CEO and managing director Andrew Russell said: “Our clients operate in increasingly complex and regulated environments where speed, insight and efficiency matter more than ever. By working with a partner that brings world-leading thinking in software design and AI-enabled capabilities, we are accelerating how we evolve our core platforms, beginning with Xplan, while staying focused on what clients value most about our software: reliability, usability and the depth and flexibility needed to support complex advice.”
Iress UK CEO Alistair Morgan said: “In the UK, we’re seeing a clear shift from firms ‘simply’ acquiring businesses to focusing on how they integrate and scale those businesses effectively and at pace. This investment in platform modernisation strengthens our role as the engine behind that consolidation, giving firms the infrastructure they need to simplify operating models and deliver consistent client outcomes at scale.”
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