The world of Advisory and Consulting is changing rapidly. The road ahead is a rocky ride and changing market dynamics are adding to the challenges. The need for advisory firms will always be there, but it is crucial to lay the foundation for a sustainable future. Technology and the internal market dynamics are causing a compound effect of disrupting the present state of this industry. 30% of jobs in Britain and 38% in America will be automated by 2030 as per a recent study; the significant disruption being in the field of Media and Tech consulting.
The Advisory and Consulting industry depends on a fiduciary model. Its prevalence will bring in a higher degree of transparency. The investors therefore will be inclined to invest only if the approach is changed to be more customer-centric rather than profit-centric.