Professional services sector adviser – Meet our expert, Merete Poulsen

Merete Poulsen is an accounts manager in the Accounts and outsourcing team at Kreston Reeves. Since joining the firm in 2016, she has built a strong reputation for her work with professional services firms, with particular expertise in supporting law firms, financial advisers, and IT consultancies.

Merete is part of the firm’s Professional services sector group—a multidisciplinary team offering accounting, tax, regulatory compliance, and strategic advisory services tailored to the needs of professional practices.

Merete is based in the Canterbury office, but regularly visits our other offices and her clients at their premises. This hands-on approach allows her to build strong relationships and deliver advice that is closely aligned with each client’s specific needs.

Challenges in the sector for solicitor clients

Merete is currently helping solicitor clients in understanding and preparing for the anticipated changes following the Solicitor Regulation Authority (SRA) consultation on client money, which concluded in February 2025.

The consultation explored several key areas, including:

• Alternatives for holding client money
• Considering preventing firms from earning interest on funds held in a client account
• Potentially prescribing timeframes for residual balances
• Possible restrictions on advance fees
• Changes to oversight of firms

Merete led her firm’s detailed response to the SRA collaborating with Kreston Reeves’ clients, to incorporate their valuable insights and make sure their voices were heard. Merete stresses the importance of advocating for practical safeguards and increased focus on systems and procedures, rather than arbitrary change which may be seen as premature and reactionary in the wake of Axiom Ince..

“We’re working closely with our clients to help them understand the implications of these proposed changes,” Merete explains. “By developing tailored strategies that work for individual firms, we’re ensuring they remain compliant, continue to safeguard client money effectively, and are well-prepared for any regulatory shifts.”

Trusted advisor to clients

Beyond technical and compliance work, Merete plays a key role as a trusted adviser, particularly during pivotal business moments.

Whether it’s guiding firms through structural changes, advising on succession planning, or helping them adapt to regulatory developments, Merete brings a practical, forward-thinking approach grounded in deep sector knowledge.

“A big part of my work is helping clients plan for the future—whether that’s preparing for a sale or acquisition, or responding to regulatory changes. Many of my clients are partnerships, so funding and structural planning are always on the agenda.”

Following the latest budget, Merete has been advising clients on how recent tax changes may affect their firm, whether it is in the form of rising staff costs, annual remuneration planning or longer-term planning.

Merete’s advisory work also includes helping firms respond to broader strategic challenges—such as succession planning, partner exits and adapting to economic pressures. Her ability to combine technical expertise with commercial insight makes her a valued sounding board for firms navigating uncertainty.

“I really value building long-term relationships with clients, understanding their business priorities and partnering with them to achieve their goals. I enjoyed studying law at university—although I pursued Accounting and Finance at Southampton, followed by a Masters in Economic History at the London School of Economics and Political Science—so I particularly like working with law firms.

As part of my work, I prepare Solicitors’ Accounts and the accompanying reports in line with SRA rules. It’s rewarding to see how firms grow and strengthen their compliance year on year following the advice I provide. I also handle a lot of ad hoc queries from law firms about managing client money. It’s quite a niche area, so it’s important to keep on top of the current guidance.”

Looking ahead

Looking ahead, Merete notes that many professional firms are exploring the potential of AI and other innovations, while also grappling with broader economic pressures and uncertainties:

“A lot of professional firms are also considering how AI will affect their business operations, but at the moment, the investment can be high and this needs to be carefully considered. This, along with other increased costs and concerns generally around the future, means there is much to discuss with clients and plan for.

Merete outside of work

When Merete isn’t working, she enjoys travel to sunnier climes, a good book and eating out – . At home she is not afraid to recreate some of the more exotic dishes she has enjoyed, and she is an adventurous cook.

We can provide a wide range of help, support and advice to people and organisations within the professional services sector. As a full service accountancy firm, we can explore your needs holistically and bring in the relevant experts from across our firm. Click here to learn more about how we can help the professional services sector. Alternatively, please contact us today if you’d like to discuss your needs with a member of the team.