Wrapping up the year that’s past and looking forward to 2026, Freney explained why the profession has become more skilled and reducing costs remains important to serve more clients.
2025 wrap-up
What was the most significant thing (good or bad) to come out of this year?
There’s been a slew of good and bad events this year, however if I wanted to give the boring, blanket answer – it’s seeing how advisers and the advice profession is beginning to adopt technology on a widespread, broader basis. I don’t want to limit this to AI/LLM usage, but I see and hear just about every adviser and advice firm exploring and asking questions about how they can be more efficient using these tools.
How has the profession grown over the year?
The shrinking number of advisers, even ahead of the December cut-off, has meant that more and more advisers are becoming more skilled and adept at their offering – which is exactly where we want to see the profession go.
What was the biggest achievement for the profession this year?
It would be hard to list one achievement alone; we’ve had a lot of small wins over the course of the year, again just contributing to the development of the profession.
What shocked you this year?
The Shield/First Guardian debacle still showing bad actors persist, despite all we’ve worked towards to reduce and eliminate these. It’s telling that product-only advice and conflicted models are on the way out, which is comforting.
How do you wind up business for the year?
Aside from finalising any advice that I can, it ends with a quick phone call to any existing clients I haven’t spoken to for a while. I make a note of any big life events that may be happening and just check in. No agenda, no request for documents to be signed, just making sure everyone is happy and knows they’re looked after. It doesn’t have to be a big song and dance or a ritual or a process in the firm, just a show of care.
2026 look ahead
What are you hoping to come out of 2026?
I’d love to see further consolidation of our industry, lower cost and barriers to advice and a growing sense of trust for our industry. The more we can do as individuals and businesses to rebuild and invoke trust in the broader public, and translate that to better outcomes for clients, is something I hope we manage to make significant and measurable progress on.
How are you feeling about the year to come and why?
Extremely optimistic for the industry as a whole. I’m seeing the way our industry is turning a corner away from product-driven advice and more towards goals/behavioural based advice, and to be honest, is downright inspiring. This shift aligns much more closely with the way clients expect advice to be provided – not through sterile documents and layers of compliance.
What do you think needs to be a top priority for 2026?
Simplifying our regulatory standards, and ideally, reducing costs. Whilst this is easier said than done, any progress that is started in 2026 can continue into the future. Even incremental progress to reduce unnecessary friction would be telling.
What is your main goal as an adviser for the coming year?
Refine and develop my personal processes and advice philosophy; even nearly a decade and half in the industry as a whole, there’s more to learn and ways to develop. Clients and revenue will always come if you’re doing a good job, but continuous learning and self-improvement will only enhance this in the short and long term.
Where do you see the advice profession heading in 2026?
Fewer advisers servicing more clients; becoming more efficient, effective and refined as an industry and as individuals. Whether an adviser is specialised or operates more broadly, anyone who can combine behavioural or psychological insights to their technical skill will always be successful.
