Change Isn’t Coming — It’s Already Here

Last August, I made the decision to keep working through the summer. It felt like the right move, the market was still active, and there was plenty to keep us busy. This year, the market remains just as busy, but August brings a different kind of excitement for me: my youngest son is getting married. Unbelievable really, considering it feels like only yesterday I was walking him to school on his first day.

Where has the time gone? In fact, where has this year gone?

It’s one of those moments that makes you stop and take stock. Life moves on, often without us even noticing. The same can be said for business, particularly in our sector, where the pace of change has shifted up several gears.

The honest truth is change is inevitable. Whether it’s a life event or market turbulence, things are always moving. What’s different now is the speed at which we’re being asked to react.

A recent Money Marketing piece confirms what many of us already sense — clients are increasingly expecting their advisers to adapt investment strategies swiftly in response to volatility. Standing still is no longer an option. Consumer Duty has made it clear: acting in good time and ensuring good outcomes isn’t a tick-box exercise, it’s a required commitment.

Typically, summer offers a brief moment of calm. I’ve often referred to this as ‘thinking time’; space to pause, breathe, and reflect. Many professionals use it wisely, some even when on holiday and away from the everyday distractions. We know several IFAs who take these quieter summer months to explore serious decisions: retirement, mergers, or sometimes simply asking, “Is this still the right path for me?”

So, what’s happening in the market?

I was struck last year by research showing that nearly half (49%) of UK financial planners and IFAs plan to retire within the next five years, with around a third intending to exit before the age of 50. That’s a huge wave of experience and client relationships that may need to be handed over swiftly. Where are the IFAs to deal with it all? Perhaps unsurprisingly, many expect that only half of their client assets will be retained once they leave.

This is where the concept of “Cultural Fit” becomes more than just a buzzword. Whether you’re merging, selling, or passing the baton to a successor, ensuring alignment in values, approach, and ambition is essential. It directly impacts client retention, the value you achieve for your years of hard work, and ultimately, your post-transition satisfaction.

If you’re beginning to sense a shift in your professional journey, whether in pace, direction, or leadership, we’re here to guide you.

I’ve always believed the best decisions come from clarity. At Harrison Spence, we offer an independent, experienced perspective across the full range of your options, including those you may not have realised were open to you.