Thanks Andrew. At this time we have no particular plans to follow-up. It is true that some of the older generation may struggle to be open in the way things might be done in the future. I suppose that was the purpose of this article to encourage them to be more open. It’s hard to generalise but I have already seen some willing to jump ship and create their own firm leveraging the latest technologies.

One of the challenges I am seeing relates to the ability for the next generation to buy into the firm. This is driven by the credit squeeze and high house prices making it hard to borrow money to buy equity.

Your point about business advisers is well made. However, the practitioner who has the client relationship is the one best situated to leverage that trust and to engage effectively with the client about other concerns they may have about their business or personal finances. They may not be the ultimate deliverer of the services but they are certainly needed to unlock the opportunity.

The tools are available for increased advisory services but it may need specialists to be hired to provide it, similar to engaging a financial planner. As we know it is not easy for older practitioners to flick the switch to business advisory.