From mortgage broker to relationship manager

In the first article in this series, I posed a simple question around artificial intelligence (AI): if it could do one thing for your business tomorrow, what would you want it to be? The aim was to cut through the noise and focus on practical use rather than theory.

This time, it is worth taking that a step further and asking what happens if, over time, AI starts to take on more of the process that sits behind what advisers do today. Because while much of the current discussion is about tools and efficiency, the bigger shift may be in how the role itself evolves.

Where time is spent today
If you break down the average case, a significant amount of an adviser’s time is still spent on tasks that are largely process-driven. Fact-finding, gathering information, chasing documents, inputting data, checking details, and working through sourcing systems all form a core part of the day-to-day role.

These are essential tasks, but they are also areas where technology is already starting to make inroads. Intelligent forms can capture detailed client information before the first conversation even takes place, document portals can request and validate information automatically, and sourcing tools are becoming quicker and more refined in how they filter options. None of this removes the need for advice, but it does start to change where time is spent.

What AI is likely to take on
Looking ahead, it is not difficult to see how a large proportion of the process could become increasingly automated. Factfinds could be completed through client-facing interfaces that gather income, expenditure and background information in advance. Document collection and verification could be handled with minimal manual input. Product matching could be done almost instantly, based on detailed criteria and data points.

In effect, a significant part of the ‘heavy lifting’ could sit outside of the adviser’s direct involvement, handled in the background by systems that are designed to be quicker and more consistent. That does not mean the role disappears. It means the balance shifts.

The rise of the hybrid model
What starts to emerge is a more hybrid approach, where technology supports a large part of the process, but the adviser remains central to the outcome. AI may handle a high percentage of the administrative and analytical work, but the final recommendation, the interpretation of the options, and the guidance provided to the client still sit firmly with the individual.

In that model, the adviser’s role becomes more focused on judgement and less on process. It is about understanding the client’s situation in context, explaining the implications of different options, and helping them make decisions with confidence.

Changing client expectations
Alongside this shift, client expectations are also moving. There is a growing assumption that information will be available quickly, that updates will be provided without the need to chase, and the overall journey will be more transparent than it has been in the past.

That creates both a challenge and an opportunity. On one hand, there is pressure to meet those expectations in a way that is consistent and reliable. On the other, there is the chance to enhance the experience, making it feel more responsive and more tailored to the individual. In many cases, technology will play a role in delivering that, but it is how it is combined with the adviser’s input that will shape the overall experience.

Where the adviser adds value
As more of the process becomes streamlined, the areas where advisers add value become clearer rather than less relevant. Complex cases, where criteria is not straightforward, will still require experience and understanding. Situations involving self-employed income, later life lending, or more unusual circumstances are unlikely to be reduced to a simple automated journey.

There is also the human element. Buying a property or arranging a mortgage remains a significant financial and emotional decision, and having someone to guide clients through that process, particularly when things do not go to plan, is not something that can easily be replaced.

A shift in focus, not a reduction in role
The direction of travel suggests advisers may spend less time on the mechanics of the process and more time on the parts that require interpretation, reassurance and decision-making. In that sense, the role becomes closer to that of a relationship manager, someone who oversees the journey and supports the client at key points rather than handling every individual step.

That is not a reduction in what advisers do, but a shift in where their time and expertise are applied.

Looking ahead
In the final article in this series, I will look at how lenders are approaching technology and what that might mean for the intermediary market more broadly. Because while the evolution of the adviser role is one part of the picture, how lenders choose to use technology alongside it could have an equally significant impact.

For now, the key point is that AI will influence how the role is shaped over the coming years, and that is where the focus needs to be.