Technology is reshaping how financial advice is delivered, but the underlying client need for family protection and long-term planning has not changed.
Ian McKenna founded the Financial Technology Research Centre (FTRC) and was named UK Life Insurance Leader of the Year in 2022.
On Sense of Identity, he discusses his path from the music industry into advice, why customer-centric delivery matters, how UK and US markets compare, and why cybersecurity should sit at the centre of adviser and provider planning.
McKenna's perspective combines operational experience as an IFA with research and commentary on how technology, market structure, and regulation affect advice firms and providers. For advisers and providers reviewing their next 12 months, the practical question is how to align technology investment, client outcomes, and security discipline without losing sight of what clients actually need.
A Deliberate Move From Music Into Advice
Before financial services, McKenna worked in the music industry as a roadie and then in personal management for bands and artists, including involvement in historic recording projects.
He moved into advice deliberately after recognising that his interest lay in helping people rather than in the technical side of live music production. That shift led him to establish what is now recognised as an independent financial advice (IFA) business.
Journalism, Advocacy, And Client Outcomes
He describes his outspoken style as rooted in a journalistic instinct to challenge how the industry operates, particularly around claim settlements and whether firms act in clients' interests.
That same drive shapes how he talks about technology today: less as novelty, more as a tool for helping people navigate protection and planning decisions with confidence.
UK And US Markets: Shared Client Needs, Uneven Pace
McKenna often compares UK and US financial markets. The differences matter for product design and distribution, but the fundamentals he returns to are consistent.
Clients worldwide still need to protect their families and plan for the future. The UK is catching up with the US in several areas, but gaps remain in how advice is delivered and how technology supports that work.
Market structure varies by country; the client need for protection and planning does not.
Providers and advisers comparing international models can learn from US innovation without assuming every US pattern fits UK regulation, distribution, or client expectations.
Customer-Centric Advice And The Next Generation Of Advisers
McKenna argues that understanding and empathising with customers is central to how financial services should evolve over the next year.
From Sales-Led To Protection-Led
He sees a new generation of advisers who prioritise family protection over pure sales targets, which he views as a positive shift for the profession and for clients.
"Understanding and empathising with customers is crucial. We're seeing a new generation of advisers who prioritise family protection over sales, which is a positive development."
Ian McKenna, Founder, Financial Technology Research Centre
Firms that align propositions, communications, and technology with that client-first mindset are better placed to meet expectations under initiatives such as Consumer Duty, where outcomes and clarity matter as much as the product sold.
Cybersecurity For Advisers And Providers
Technology enables better engagement, but it also expands the attack surface for firms handling sensitive client data.
Digital And Physical Security Together
McKenna treats cybersecurity as essential rather than optional. His view is that protection involves both digital and physical controls, backed by continuous vigilance and education across the firm.
"Cybersecurity is of utmost importance. It involves both digital and physical security measures. The key is continuous vigilance and education across the firm. The industry must constantly evolve to effectively combat cyber threats."
Ian McKenna, Founder, Financial Technology Research Centre
"Adviser firms need practical routes to protect everyday client email without adding friction that pushes clients back to insecure channels or unnecessary support calls."
Carole Howard, Head of Networks, Beyond Encryption (Mailock)
Security programmes that stop at policy documents rarely change day-to-day behaviour. Training, tooling, and leadership attention need to align so that client communications and internal processes reflect the same standard.
Questions For Advice Firms
Do digital and physical security controls cover how client data is actually handled day to day?
Is cybersecurity training ongoing across the firm, not only at onboarding?
Does client communication meet the standard you would expect under Consumer Duty and data protection obligations?
Those checks sit alongside the wider shift toward customer-centric advice and technology that supports rather than complicates client relationships.
Focus On What You Can Change
Asked what advice he would give his younger self, McKenna keeps the answer simple: concentrate on what you can change, and do not waste energy on what you cannot.
Commitment and enthusiasm, applied consistently, can still create a substantial impact in a regulated industry that often moves slowly.
Choosing The Right Customer Channel?
Read our research on portals, logins, email, and post before deciding how customers should receive important documents.
Firms reviewing secure client communication alongside adviser technology plans may want to see how email-based delivery can stay familiar for clients while adding encryption and auditability.
FAQs
Who Is Ian Mckenna?
Ian McKenna is founder of the Financial Technology Research Centre (FTRC) and was named UK Life Insurance Leader of the Year in 2022. He previously worked in the music industry before moving into financial advice.
What Did Ian Mckenna Say About UK and US Financial Markets?
He noted that client needs for family protection and future planning are similar worldwide, while the UK is gradually catching up with the US in several areas of market development and technology adoption.
What Did Ian Mckenna Say About Cybersecurity in Financial Services?
He described cybersecurity as essential, covering both digital and physical security, with continuous vigilance and education across the firm and ongoing evolution to combat emerging threats.
What Did Ian Mckenna Say About Customer-Centric Advice?
He emphasised understanding and empathising with customers, and highlighted a new generation of advisers who prioritise family protection over sales-led approaches.
Paul, CEO and Founder of Beyond Encryption, is an expert in digital identity, fintech, cybersecurity, and business. He developed Webline, a leading UK comparison engine, and now drives Mailock, Nigel, and AssureScore to help regulated businesses secure customer data.
Paul Holland
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