The Global Research Council’s Sector Survey: Investigating Shifting Currents

Q&A with Louise Broekman

The State of the Market Report has been a pivotal resource for the advisory board sector since its launch in 2019. Published every two years, it provides critical insights, challenges assumptions, and tracks emerging trends to shape best practices. In this Q&A, Founder and Head of the Global Research Council, Louise Broekman gives a behind-the-scenes glimpse at the making of the report, its impact on the sector, and how it empowers decision-makers to embrace advisory boards with confidence.

What inspired the creation of the first State of the Market Report?

The first report, written in 2019, came at a time when the advisory board sector was still immature and largely unexplored. We wanted not only to understand the sector, but also to educate and drive meaningful impact. The Global Research Council releases the report every two years to allow for market trends to be clearly identified and  to have a longer term view rather than just a tactical annual assessment. That’s also the reason we have committed to our 100 Year Strategy. As soon as we release a report, we are already starting the next and we’re currently deep in the process for the 2025 – 2027 edition.

How does the report contribute to the advisory board community?

The purpose is to present a point of view and put it into context for our members’ regions and sectors. Its function is to support members to have localised conversations and view the sector from a different lens. In particular, it enables our members to have quality conversations with potential clients and those interested in setting up advisory boards. This foundational knowledge elevates the conversation faster. 

How do you approach the making of the report?

We bring the “outside in” so we’re not creating an echo chamber of always believing our own story. We don’t research to defend the sector… we do research to challenge it. We must remind ourselves that not all advisory boards are effective. We need to challenge our practices first to ensure we set the benchmark, and stay ahead of market scrutiny. Each time we produce the report we see many exciting trends for the sector as well as  challenges that impact ethics and best practice. It demonstrates the importance of our role as the professional body. The report makes sure that the development of the sector is done really well and we maintain our focus on the market, not ourselves.

What challenges do you face in uncovering insights through your research?

Advisory boards has been a hidden sector. Organisations at all levels are establishing and executing them in a lot of different ways… and very private ways. Its fragmented and its democratised. To gather data and qualitative stories, is not always accessible due to confidentiality and commercial sensitivities.

So how do you gather meaningful data in such a fragmented and private sector?

For those who are able to share their insights, we thoroughly encourage you to do so via our Global Research Council’s sector survey. We do not require organisational or advisor identification. Broad perspectives is what we are seeking.

Why should people take part in the research, and what impact does it make?

It only takes 7 minutes, but the impact is far-reaching. Our report has been referred to by Korn Ferry, The Financial Times, the Australian Institute of Company Directors and many more – impacting government bodies, multinationals, universities, the business sector and start-ups and scale-ups around the globe. It also informs our freely available ABF 101 Best Practice Framework and our Code of Ethics. These resources empower people to explore advisory boards with confidence, even if they’ve never had one before.

You’re currently gathering insights for the 2025 – 2027 report, what do you see so far?

Next year will be a line in the sand, signalling the maturing of the advisory board sector. It’s no longer a niche activity or investment – there’s been a tidal wave of advisory board adoption and is mainstream. Every organisation at any stage will benefit from the use of advisory boards… if they do it well. Management frameworks will become front and centre in amplifying impact. Look out for the report being released in May!