In our uncertain world, trusted advice is more valuable than ever

Advisers have a vital role in helping clients navigate an increasingly complex financial landscape as IHT changes draw closer.

In many respects, uncertainty has become the new normal.
Economic shifts, geopolitical instability, evolving family dynamics and regulatory change are reshaping our world, while markets react sharply to conflict, oil prices and political developments.

And that uncertainty isn’t letting up. The planned inclusion of pensions within the scope of inheritance tax from 2027 adds another layer of complexity as intergenerational wealth transfers gather pace.

This is not simply a technical change. It gives advisers an opportunity to show the value of planning that connects pensions, estates and the needs of the wider family.

These were among the main themes at our annual recognition event in September, where we celebrated trailblazing financial advisers and paraplanners from some of our key partner firms for their exceptional and innovative work on behalf of clients.

Insights from author, journalist and former BBC correspondent Gordon Corera, an industry panel and the awards discussion all pointed to the same conclusion: when the world becomes harder to interpret, clear and trusted advice gains value.

The value of advice extends well beyond choosing products or constructing portfolios. Advisers are helping people navigate complexity, providing clarity when circumstances change, and perspective when competing priorities collide.

One of the many interesting discussions at the event was around the growing importance of family engagement, particularly as pensions come within the scope of IHT.

The reframing of pensions back to their primary purpose and away from being a vehicle for tax-efficient transfer of wealth creates a real opportunity to demonstrate the value of financial planning.

But some things do need to be different.

Historically, many adviser relationships have centred on a single – usually male – individual within a household. While this approach may work for some, it can create real challenges when spouses, partners, children or beneficiaries have limited engagement with, and understanding of, plans that have been put in place.

Some advisers have told us that, despite building trusted client relationships over decades, they often had little contact with spouses, partners or the next generation before the client died.

In some cases, information was difficult to find, or important decisions became more complicated than they needed to be.

Our Advice Participation Gap report, developed with NextWealth, highlights why this matters: around two-thirds of women change adviser after their spouse or partner dies. The adviser simply hasn’t built a connection with them – and the business walks away with them.

This is not simply a technical change. It gives advisers an opportunity to show the value of planning that connects pensions, estates and the needs of the wider family.”

For advice businesses, wider family engagement can only be a good thing.

As client demographics evolve and wealth transfers accelerate, many firms already know the value in building relationships across generations to help support continuity during periods of family transition.

This can create a strong alignment between client and business outcomes. By helping families – not just one person – engage more deeply with financial planning, advisers can strengthen relationships while delivering broader and more enduring support.

Treating everyone as an individual is the best way to make advice more welcoming for those who, otherwise, might feel it’s not for people like them.

Many advisers already do this terrifically well. The Advice Participation Gap report suggests that wider adoption of this approach across the industry could strengthen engagement, support asset growth and reduce the risk of clients moving elsewhere, or opting out of advice entirely.

At the same time, advisers face growing demands on their time. Regulatory requirements, governance responsibilities – not least Value for Money and consumer duty – and rising client expectations are competing for attention.

Helping advisers access better data, streamline processes and make more informed business decisions means they can focus on what matters most and what they do best: advice.

That support needs to go beyond research and thought leadership alone. Advisers need practical help, specialist expertise, meaningful business discussions and solutions that make a tangible difference to the way they serve their clients.

Clear insights into a client book can be transformative, revealing patterns across age, gender, products and more. Advisers shouldn’t be caught off guard by an ageing client base or those with multiple pensions requiring urgent attention ahead of the IHT changes. New platform technology makes that all possible.

It’s all tied up with the future value of their business, especially if they’re considering selling or consolidating at some point.

Understanding these trends is no longer a nice-to-have. It is fundamental to delivering good client outcomes, deepening client relationships and building an advice business that is prepared for the opportunities and challenges ahead.