Running an advice business in 2025 isn’t for the faint-hearted. Between shifting margins, rising costs, and the daily balancing act of people, tech, and compliance – it’s no wonder you’ve found yourself thinking, what next?
Maybe it was when profitability slipped for the third quarter running. Or when you realised your best advisers are spending more time on admin than advice. Or maybe it was that Sunday evening feeling wondering if you’re still building something or just holding it together.
You’re not alone. I’ve spoken with dozens of advisory firm owners recently – smart, seasoned professionals – who are all navigating the same crossroads. Some are fired up about growth. Some are worn down by the grind. Most are wondering how to keep scaling without burning out or selling out.
And the industry isn’t short on opinions:
- “The pendulum has swung in favour of buying – if you’ve got the strategy, vision and capital.”
- “Private equity roll-ups are the future.”
- “The value is moving upstream, advice-led, not product-centric.”
- “You either scale or sell.”
- “Invest more in tech. It’s the only way to survive.”
- “It’s never been a better time for quality advice firms to do well.”
It’s a lot to take in. Especially when the real questions are more personal: Can I grow and still be profitable? How do I stay sustainable? What does my legacy look like? Is succession just a polite word for exit? And how do I keep doing what I love – without drowning in red tape?
There’s no single right answer. But the good news? There is a path that’s right for you. Let’s break down the three most common strategies we see advice firms pursuing – and what to consider before making the call.
Option 1: Roll up, take the cheque
The appeal is obvious. Private equity-backed offers or institutional roll-ups often come with a big cheque promises of scale, security, and simplicity. You sign, you transition, you retire – or you stay on in some earn out or other guise.
The upside? A defined outcome. Liquidity. A seat at a bigger table. Operational leverage and scale from a larger team and system. For many, particularly those nearing retirement or fatigued by change, it could be the right move.
The trade-off? You relinquish control-over how advice is delivered, how clients are served, and how your team operates. Cultural fit becomes someone else’s call. Autonomy gives way to hierarchy. Your legacy may blur into a brand that’s no longer yours. And if you’ve spent years building that legacy, it’s worth asking: are you ready to give that up?
It’s a solid succession path for some; for others, it’s a short-term fix.
Option 2: Go it alone and double down on internal investment
At the other end of the spectrum is backing yourself. Build out the tech stack, strengthen compliance, get your back-office processes sorted, evolve your value proposition, hire the right staff and advisers. It’s bold, takes confidence and for some, necessary.
But it requires serious capital, time, and tolerance for risk. If you’re undercapitalised or spread too thin, you’ll hit what I call the “brick wall of execution”, where growth is constrained by complexity.
Plenty of firms stall here. They’ve got the vision, but not the bandwidth. It’s one of the classic stages of development, where practices face a ‘brick wall’ that can’t be powered through with effort alone. Progress demands a new structure, new support, or a new way of doing business altogether.
Option 3: Partner for growth, not exit
Then there’s a third path – partnering for growth, not selling out completely. This is the “middle road” – strategic, flexible, and increasingly popular among practices that want to evolve without losing what makes them unique.
Partnering for growth means joining forces with a like-minded group that shares your values, respects your independence, and understands your ambition. It’s not about folding into a corporate machine. It’s about aligning with the right partner who complements your strengths, fills in the gaps, aligns culturally, and helps you get where you want to go-faster and with less friction.
You keep your independence and identity, your client focus, and your way of doing things – but you gain access to resources and support that would be virtually impossible to build alone.
What changes? Less time spent on compliance, tech headaches, or admin. You stop pouring energy into areas that, while important, aren’t what you love or what you’re best at. Instead, you plug into a modern support system designed to lighten those burdens – built to help you do what you do best: deliver exceptional advice and grow relationships.
This model is often less capital-intensive and could take the form of a true merger of entities through to capital partnering with the right equity partner. Instead of funding infrastructure or headcount, you tap into what’s already in place – technology, compliance, investment governance, marketing, strategic coaching – all built to support your next chapter.
Done well, partnering for growth feels less like surrender and more like liberation: the freedom to serve, the bandwidth to innovate and the momentum to turn succession planning into a springboard rather than a finish line.
Why partnership makes sense in 2025
Your expertise is too valuable to undervalue. The advice profession doesn’t need more volume – it needs sustainable, client-centred growth.
If you’re open to partnering, what should you look for?
- Alignment of cultural DNA and behaviours
- A vision of the future that makes sense, provides motivation, and clarity of outcomes
- A genuine track record of collaboration focused on mutual success
- A true advice-first community focused on client outcomes and enduring relationships
- Proven scalable infrastructure
- Streamlined tech and back-office support that reduces admin and saves time
- Ongoing strategic support and coaching to help sharpen your leadership and decision-making
- Strong capital backing to fund ongoing innovation
The Final Word
What do you want from your business – and your future? Start by defining what success looks like for you. How do you want to work, lead, and live?
You don’t have to sell your soul to scale. And you don’t have to go it alone to stay autonomous. You’re not failing if you seek support – in fact, that might be the smartest move you make.
There’s no perfect model. But there is one that fits you: your vision, your values, and long-term goals. If you’re exploring partnerships, look past the pitch. Ask: What support will I really get? What’s the culture like? Who’ll back me when things get tough?
And don’t forget – this is still a people business. It’s supposed to be enjoyable. Don’t lose sight of why you started: to make a positive and enduring difference, to build something meaningful, and yes, to have some fun along the way.
Your legacy isn’t defined by the exit – it’s shaped by every choice you make along the way. With the right partner, growth and fulfillment don’t have to be trade-offs – they can go hand in hand.
Matthew Fogarty is executive general manager – strategic relations for Infocus Wealth Management.
