Advisers prioritising existing clients in 2026 as regulatory concerns rise

Advisers are overwhelmingly focusing on client service and retention in 2026 against a backdrop of ongoing regulatory pressure and political uncertainty, according to a survey by TFAS Compliance Services (TCS).

90% of advisers cited continuing to service and support existing clients as their top priority for 2026. Alongside this core focus, 46% plan to increase client numbers, while 50% are targeting growth in overall business value.

When asked where they saw as the biggest opportunities, advisers pointed to the growing need for advice (71%) as the leading industry opportunity. This was followed by changes in tax and pension rules (60%), and the provision of intergenerational advice (43%).

Regulation and government policy top adviser challenges

Consistently listed among the top adviser challenges were governmental and regulatory changes, with government action and policy cited most as a top concern, by 65% of respondents.

This was followed by regulation (60%) and more specifically Consumer Duty (58%). More than half (57%) said they are focusing on reviewing processes to manage compliance risk. In addition, 46% of those surveyed highlighted the administrative burden on advice firms.

When asked about introducing simplified advice, only 7% said they plan to do so, while 21% said they would consider it with more information. A clear majority, 72%, said they had no plans to offer simplified advice in the near future.

Advisers cautiously optimistic about AI’s role

40% of advisers said they felt artificial intelligence (AI) will have, or is already having, a positive impact on the profession, while 55% remain unsure.

Just over half (55%) of advisers are already using or plan to use AI tools, most commonly for general support (such as ChatGPT or Microsoft Copilot) and summarising client meeting notes. 

Additionally, 77% said they do not plan to increase their technology use in 2026, with only 18% expecting to adopt new tools this year.

Richard Ardron, chief commercial officer for TFAS Enterprises, said: “It’s great to see advisers maintaining such a strong client focus and optimism in the face of ongoing regulatory and political pressures. As the demand for advice continues to increase, firms continue to adapt, from embracing AI to create much needed efficiencies to ensuring that they have the right systems and controls in place to meet the requirements of a data-led regulator."