Today marks the start of my 45th year as an Independent Financial Adviser. Since I began my career back in 1981, the world has certainly been through some seismic shifts. We’ve witnessed wars, from the Falklands to Ukraine. We’ve navigated monumental financial crises like Black Monday, the Dotcom bubble, the 2008 banking collapse and the recent economic turbulence from the Covid pandemic.
The way we work has been completely transformed. The arrival of the internet, the rise of social media, and the ever-present layers of regulation and compliance have reshaped the landscape of almost every industry, including our own. So, the world of 1981 is unrecognisable from today, right?
Not entirely. While the backdrop has changed dramatically, the fundamental human experiences that drive the need for sound financial advice have remained remarkably constant. The core reasons people seek guidance are timeless.
The Enduring Nature of Life’s Financial Challenges
In 1981, my clients came to me as they moved through life’s biggest milestones. They were getting married, celebrating the arrival of children and grandchildren, or navigating the painful paths of divorce and bereavement. They were building fortunes, and sometimes, losing them. They were planning for a dream retirement, a new home, or that vintage car they had always wanted. They were also dealing with the less welcome events, like serious illness or the constant demands of the taxman.
Fast forward to 2025, and the conversations I have every day echo those from four decades ago. The challenges are the same. In fact, we are now advising the children and even the grandchildren of our very first clients from the 1980s. Life’s journey, with all its joys and its hurdles, continues. People still fall in love, start families, change careers, and plan for the future and they still need a trusted partner to help them make sense of the financial implications.
A Shifting Industry Landscape
While our clients’ core needs haven’t changed, the financial advice industry itself has undergone a radical transformation. In the 1990s, there were around 220,000 IFAs in the UK. Today, that number has fallen to under 15,000. Yet, it’s estimated that over 11 million people in this country are in desperate need of advice and guidance to navigate life’s complexities. This gap highlights a critical need for accessible, reliable and truly independent financial counsel.
As we at Westerby’s prepare to celebrate our 40th anniversary next January, our Ruby year, we are more committed than ever to filling that void. We understand that in a world of constant change, stability and trust are more valuable than ever.
Our Commitment to Independence and Longevity
What sets Westerby’s apart is our structure and our philosophy. As an Employee Ownership Trust, our focus is entirely on our clients and our team. This model ensures that we remain fiercely independent, allowing us to provide impartial advisory, trustee, and administrative services right here in the UK. Our decisions are driven by what is best for the people we serve, not by external shareholders.
This structure fosters a culture of long-term thinking and deep-seated commitment. We are not just advisers; we are stewards of our clients’ financial futures. Our doors are, and always will be, wide open for people to talk to us about the challenges they face.
Looking to the Future
One thing I have learned over 45 years is that you can’t always predict what’s around the corner. But I can say with confidence that the challenges our clients face today will be the same ones they face in 2026 and beyond. Life will continue to present us with moments of great joy and profound difficulty.
Through it all, the need for a steady hand and expert guidance will remain. If you are looking for long-term, independent financial advice to help you navigate your own journey, please contact us.
About the Author
Stephen Harvey has been an independent financial adviser since 1981, specialising in advice for family businesses, entrepreneurs, private clients and high-net-worth individuals. He joined Westerby Group in May 2012, bringing extensive experience, including his instrumental role in launching one of the UK’s first SIPPs in 1990. Stephen now advises Westerby’s clients across the UK on financial planning, retirement strategies, investment advice and employee benefits.
