Facing the Next 10 Years: The Real Challenges for Our Profession

When I was asked on stage at MDRT Day in Thessaloniki what I thought would be the biggest challenge for our profession over the next 10 years, I had to smile — because that’s not an easy question to answer!

First of all, none of us have a crystal ball. We can’t predict the future. What we can do, however, is prepare ourselves to deal with what’s right in front of us and remain adaptable to whatever comes next.

Recruiting the Next Generation

One of the most obvious challenges we face — particularly in financial services — is the recruitment of younger professionals. The average age of a financial adviser in the UK is still over 50, and that number hasn’t changed much in recent years. That means, unless we attract and inspire a new generation, we’ll face a significant gap in the years ahead.

But that’s not just a recruitment problem; it’s a culture problem. We need to make this profession appealing again. We must show younger people that financial advice isn’t just about numbers — it’s about people, purpose, and making a difference in someone’s life.

Navigating Regulation and Change

Another challenge we all know too well is regulation. It’s been part of our professional landscape for more than two decades, and it’s not going away.

Over the years, I’ve often heard colleagues describe new legislation as the “end of the world for financial services.” In fact, there’s even a French phrase I like to use — l’apocalypse du jour — meaning “the apocalypse of the day.” I’ve lost count of how many times I’ve been told, “That’s it. We’re done. We may as well quit and do something else.”

And yet… here we are. Stronger. More resilient. More professional. Every so-called obstacle has made us better at what we do.

The Constant That Never Changes

When you look back over the last 100 years of our industry, you’ll realise something remarkable: the challenges haven’t really changed — they’ve just been dressed up differently.

Technology evolves, regulations shift, and markets fluctuate, but the fundamental ingredients for success remain the same: passion, enthusiasm, commitment, authenticity, and belief in what we do.

If you hold on to those qualities, you can face anything. The future will always bring uncertainty, but those who lead with purpose and authenticity will always find a way to thrive.

Looking Ahead with Confidence

So, as we look ahead to the next decade, my advice is simple:
Don’t fear the challenges — expect them.
Don’t wait for certainty — create it.
And above all, stay true to the values that have defined our profession since its beginning.

Because while the world might change, the principles that lead to success — belief, service, and passion — will never go out of date.