About Time Too

The announcement that websites offering unregulated and potentially harmful financial “influence” are to be taken down is a welcome development, and one that professional financial advisers should note.

According to a recent BBC article, authorities are stepping up efforts to tackle the spread of misleading advice online, targeting social media influencers and unlicensed platforms that promote risky or outright fraudulent schemes. For too long, these voices have had an outsized impact on consumer behaviour, often to the detriment of those they claim to help. This move is not only timely, but necessary. For professional financial advisers, it signals a subtle but important shift in public sentiment.

In my  recent  article, “Trust in Financial Advice is Growing”,  I  highlighted how consumer confidence in regulated financial advice is on the rise. After years of scepticism, more people are beginning to understand the value of qualified, tailored, and regulated guidance.

However, it is clear there is still work to do. According to Money Marketing, less than 9 % of the UK population received financial advice in the last year. That’s a staggeringly low figure, especially in a climate where people are facing increased financial pressure and complexity.

So, what’s the disconnect?

One possibility is that many individuals have been turning to influencers and non-professional sources because they are perceived as more accessible or relatable. But as those channels begin to lose credibility, and as regulators step in, there is a real opportunity for the profession to meet the need.

How can we help?

For businesses aiming to sell or grow, this regulatory shift presents a strategic moment. At Harrison Spence, we work closely with business owners at every stage—from exit planning to scaling up—ensuring their structures, and governance frameworks are soundly aligned. In my opinion, you should always be prepared for a sale or growth to help achieve the best possible outcome.

Now is the time for professional advisers to be visible, vocal, and accessible. Consumers are beginning to realise that while DIY finance or algorithm-led tools might be appealing on the surface, they often fall short when life gets complicated.

As a career financial adviser myself, I am delighted that there is life in our industry and the next generation of financial advisers will be able to avail themselves of all the latest technology available to help deliver sound, professional advice.

However, this is a moment not just to welcome regulatory action, but to seize the momentum it creates. By reinforcing the value of real, regulated financial advice, and by making it easier for businesses and individuals to access it, the profession can build on the trust it has been steadily regaining. In the end, proper advice isn’t just preferable, it is essential.

For more information on how we can help you and your business, please do get in touch, as always, any first meeting is always at our expense.