State of Financial Services in 2026

How do you evolve from being primarily
portfolio managers to being true lifeplanning partners for your clients?

The wealth management industry cannot cling to legacy structures while the ground shifts beneath it. Organisations must embrace change proactively, not wait for it to be forced upon them by outflows or industry disruptors. Those who emerge victorious in the latter half of the 2020s will be those who anticipate, adapt, and lead.

29% of clients plan to switch providers within three years; nearly 70% of inheritors change advisers within a year.
37% of UK advisers plan to retire in the next three years; the average age is 57.
76% of advisers report benefits from generative AI; 85% see it as valuable.
Women are expected to control 40–45% of wealth by 2030.
£50.62 trillion wealth transfer underway; firms must engage heirs early.

“Firms need to move quickly to adapt if they are to remain relevant among shifting demographics and emerging technologies. Traditional roles and behaviours that existed shaped the last decade won’t be the same solutions for future challenges.”
Rachael Smith
Head of Growth, Evelyn Partners

These are absolutely the issues we need to be discussing in 2026, while AI is new and the role of financial services is in transition.
Jonathan Tweedie
Managing Director & Head of Distribution,
RBC Brewin Dolphin