The FT report this morning a senior mortgage broker asking questions of his trade

“These AI platforms are giving phenomenally precise and thoughtful mortgage advice,”

says Hegarty, former chief executive of UK mortgage broker Habito.

“It built sensitivity models for my mortgage around changes in rates and the pros and cons of fixing versus not fixing — all of the things that mortgage brokers advise on.”

But when he started playing around with Claude, Anthropic’s AI platform, he was “shocked” by how prescriptive it was willing to be in what is a highly regulated advisory process.

“It wasn’t just saying here are some representative numbers that you might be interested in. It was saying: ‘You should definitely get that one.’”

Mortgage broking is not a regulated activity as giving financial advice is. But to the ordinary person, what the mortgage broker (like the annuity broker ) is unregulated but still “financial”.

It is only a matter of time for the FCA to prescribe how artificial intelligence can be authorised to tell us how to invest , save tax and make sure we have money in the future when we need it most.

I don’t want to sound dismissive of a profession that I spent half my career in, but I can’t see why someone like me would want to employ people like me to get advice. I’d rather get my answers through AI so long as I could trust it.

How often do I put what I write into the hands of artificial intelligence? The answer is every time I put my words into an email, or a blog or when I construct a report for a client. The programs within the software that I use pick up on what I say and correct me when I misspell or get my words the wrong way round. They make suggestions about saying what I’m trying to get across in a more simple way.

I bet this resonates with all of us and I bet that everyone who is taking e a financial decision will be asking the computer what to consider.

I know that many relationships between clients and advisers are long standing and that unlike consulting a mortgage or annuity broker, depend on a deep understanding.

Nonetheless , I am not sure that my business – which involves turning pots into pensions is not ripe for the AI adviser.

The mortgage process — researching, advising on and executing a home loan — is ripe for disruption by AI.

And James Pickford of the FT has clear evidence that people are taking their advice from AI

“AI platforms are clearly already giving an absolute tonne of mortgage advice as we speak,” says Hegarty, who is now co-chief executive of African mobile banking service Kuda. A 2025 survey of 5,000 people by Lloyds Bank found that more than one in five used AI for mortgage advice.

I will not enter into the world of mortgages, I am happily beyond purchasing houses and my only requirement of mortgage advice may be to release equity as needs arise.

But I have a pot and I have insufficient income to maintain my lifestyle. Like millions of others , I am in that stage of life where my pension pot is available but untouched, awaiting a sensible way forward.

James Pickford’s extensive roam through the improvements that AI might bring to house purchase and remortgaging ends with his summing up from one senior banker

“The danger is that people think AI can solve everything,”

says Morris of Santander.

“What we have to focus on is a thoughtful, responsible application of the technology. How do we adopt it in a way that blends the best of human nuance and interpersonal qualities with the known benefits that come from a technology that can help us speed things up and reduce costs?”

We may not have much longer to wait before we get an answer.

Pensions are notoriously slow at picking up on new technology and advice on what to do with pots to make them into pensions (my example) is not high on the priorities of trustees and commercial providers.

But I suspect that technology is already readying itself . Put “how do I turn a pension pot into a pension?” and you will find page after page of adverts for savings vehicles. I wonder if I will get help in getting myself a wage in retirement, in years to come?

I hope the AI pension adviser will be with me shortly!