
The Growing Use of AI Among Mortgage Advisers: A Game Changer for Efficiency and Decision-Making
The financial advisory sector, including mortgage advisers, is undergoing a transformative shift as artificial intelligence (AI) becomes an integral part of their toolkit. Recent research by NextWealth underscores this evolution, revealing a striking 28% increase in the adoption of AI among financial advisers within just a year. By 2024, a substantial 34% of advisers report actively leveraging AI in their workflows—a significant leap from the modest 6% in 2023.
This trend reflects a broader reduction in scepticism about AI’s capabilities. The percentage of advisers dismissing AI as “not fit for purpose” has plummeted from 29% in 2023 to a mere 7% in 2024. But what’s driving this rapid adoption, and how is AI reshaping the mortgage advice landscape?
Why AI Adoption is Growing in Financial Advice
The integration of AI into financial advisory roles isn’t merely a technological trend—it’s a response to industry-wide challenges. Mortgage advisers are increasingly turning to AI for its ability to:
Enhance Efficiency
AI tools streamline traditionally time-consuming processes, such as transcribing client meetings, summarizing key discussion points, and identifying action items. These capabilities free advisers to focus more on client engagement and strategic planning.
Reduce Errors and Improve Accuracy
By automating routine tasks, AI minimizes the risk of human error, ensuring precise documentation and data handling—critical in a sector where compliance and accuracy are paramount.
Gain Competitive Insights
Larger firms have been quicker to adopt AI, with 43% of advisers in firms of over ten members utilizing the technology, compared to just 19% of solo practitioners. These larger organizations leverage AI to process vast amounts of data, offering insights that help advisers tailor their recommendations to clients’ unique needs.

Why AI Adoption is Growing in Financial Advice
While larger firms are leading the charge, solo practitioners and smaller firms are more cautious. According to NextWealth, 52% of advisers express interest in AI but adopt a “wait and see” approach. This cautiousness is rooted in resource constraints and risk aversion. As one sole practitioner noted, “I’ll let them make the mistakes, and I’ll just navigate it myself.”
This disparity underscores the importance of accessible and scalable AI solutions tailored to the needs of smaller practices. Over time, as the technology matures and early adopters demonstrate its value, more independent advisers are likely to embrace AI.

Applications of AI in Mortgage Advice
AI is already making an impact in several areas of mortgage advising:
Meeting Documentation and Client Communication
Tools like transcription software and automated summary generators are revolutionising how advisers document client interactions, saving hours of administrative effort.
Data Analysis for Tailored Advice
AI systems analyse vast datasets to identify trends, predict market movements, and match clients with optimal mortgage products based on their financial profiles.
Regulatory Compliance
Compliance remains a critical concern for mortgage advisers. AI-powered solutions ensure that advisers meet regulatory requirements by automating checks and generating detailed compliance reports.
The Road Ahead: Opportunities and Challenges
As AI adoption grows, mortgage advisers face a mix of opportunities and challenges:
Opportunities
- Scalability for Small Firms: Emerging AI platforms aim to democratise access, enabling smaller firms to compete with larger enterprises.
- Enhanced Client Relationships: By automating administrative tasks, advisers can focus on building deeper client relationships and offering personalised advice.
Challenges
- Data Privacy and Trust: Advisers must address concerns about data security and ensure clients trust AI-driven recommendations.
- Skill Development: Successful AI integration requires advisers to develop new skills to leverage these tools effectively.

Conclusion
The adoption of AI among mortgage advisers reflects a broader industry trend toward embracing innovation for enhanced efficiency and decision-making. While larger firms currently dominate the AI landscape, smaller practices are beginning to recognize its potential. Over the coming years, as AI tools become more accessible and refined, they are likely to become indispensable for mortgage advisers of all sizes.
In a rapidly evolving market, staying informed about AI’s capabilities—and knowing when to adopt them—will be key for advisers aiming to stay competitive while delivering exceptional service. The future of mortgage advice isn’t just about human expertise; it’s about the synergy between human intelligence and artificial intelligence.