We brought together some of the brightest minds in professional services for a thought-provoking lunch at 20 Stories in Manchester. Hosted by Cooper Parry’s Corporate Finance Partner, Andy Parker (who also happened to be celebrating his birthday), the roundtable welcomed 15 senior leaders from across the sector – including Managing Partners and CEOs for an open, honest conversation about the realities of executing deals and what’s next for professional services.
WHAT DO WE MEAN BY PROFESSIONAL SERVICES?
The term covers a broad range of firms that provide specialist advice and support to businesses and individuals. Around the table, we had leaders from legal firms, financial restructuring specialists, and wealth management businesses with a footprint across England. These are organisations built on expertise, relationships and trust. And they’re all facing similar challenges when it comes to growth, investment and talent.
DEALS, DEBT & DISTRIBUTION: THE INVESTMENT LANDSCAPE
With private equity investment sweeping across the sector, the conversation quickly turned to capital structures and the challenges of funding growth. The traditional partnership model – with full profit distribution – is increasingly under pressure. It’s a structure that can constrain investment in tech, particularly AI, and limit firms’ ability to scale.
Private equity, on the other hand, is offering a lifeline. With some of the attendees already benefitting from PE investment, there was a clear consensus: firms should at least consider external investment, especially as valuations have risen and the next generation of leaders show reluctance to take on significant debt to buy into equity.
AI: OPPORTUNITY OR OVERLOAD?
The debate around AI was one of the most animated of the afternoon. Everyone agreed it’s here to stay – but what it can do is evolving fast. There’s a real risk of over-reliance without proper oversight. Professional services firms have always thrived on the human
interface, and while AI can enhance delivery, it’s not a replacement for relationships. The big question: will the next generation of clients feel the same?
Another hot topic was whether firms should build their own AI tools (which can be expensive and risk redundancy as the pace of change in AI continues to be rapid) or lean on solutions developed by specialists. The consensus? Whichever route you take, the key is not to be left behind. Staying ahead of the curve will define who leads and who lags in the sector.
CULTURE, TALENT & TOMORROW’S LEADERS
Recruitment and retention remain hot topics. Culture came up time and again. Not just as a differentiator, but as a magnet for talent. There was also a frank discussion about the work ethic of younger generations and what that means for succession planning. Where are the next leaders coming from? And how do we make sure they’re ready to take the reins?
KEY TAKEAWAYS
1. Private equity is no longer a fringe consideration – it’s front and centre for firms looking to grow, innovate and stay competitive.
2. The partnership model is under strain – and without change, it could hold firms back.
3. AI is a game-changer – but it needs to be used wisely. There might also be opportunities to develop bespoke tools.
4. Culture is king – and the firms that get it right will win the war for talent.
This was an invite-only event, but if you’re interested in joining future sessions, get in touch. Expect big ideas, bold conversations and brilliant company.
