Beaton's recent 'Bigger. Better. Or Both?' First Movers seminar analysed the merits of size and growth (Bigger) versus focusing on clients' needs (Better) and being rewarded for success. In this context it's interesting to note that of the 10 firms recognised by ALB only half are conventional (ABL, H&W, MO, WH, WK). The others are incorporated consolidators (M+K), listed (ILH, S&G) or so-called non-firm firms (AL, BL).
Industry watchers will no doubt latch on to this as yet another harbinger of change. Nimbleness in the market, access to capital and innovation are, on average, more likely in new structures. So, well done the conventional five. And let's all take note of the five playing by new rules. They are the game-changers and disruptors – dismiss or ignore them at your peril.