The professions are facing unprecedented change.
The pace of disruption that has so dramatically impacted industries such as publishing, music, taxis and accommodation is now replicating in all professions.
While technology is playing an integral role in driving change, the reality for industries such as financial planning, accounting and the law is that the technology is only ever an enabler. The cause of the cannibalisation of the business model for incumbent firms is the complete abandonment of heritage thinking.
This means that the very things that make an incumbent, dominant market leader strong can in fact be their greatest weaknesses when facing a new solution provider who does not play by the rules.