One of the clichés of the 21st century is to say data is the new oil but, like a lot of clichés, there's a kernel of truth in there struggling to come out. Indeed companies like Facebook have turned data into an awful lot of money and an awful lot of controversy.

But what does this mean for advisers? How can they put the data they hold to good use to improve the service they offer? And what are the pitfalls?

This week FTAdviser digital editor Damian Fantato is joined by Nick Eatock, chief executive of Intelliflo, and Russell Andrews, head of solutions at SEI.

They discuss what data is in the context of financial advice, what uses advisers can put their data to - both for their own businesses and for their clients, whether advisers are making enough use of it and what regulatory issues there might be.

The FTAdviser Podcast is the weekly podcast for financial advisers, brought to you by FTAdviser. Each week, FTAdviser is joined by guests from the industry to discuss the week in news and pressing industry issues.

The FTAdviser Podcast is designed to inform regulated UK advisers on a range of topics, covering investments, pensions, regulation and other key issues.

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