The future of mortgage advice

For many years, the mortgage industry has largely relied on recruiting experienced advisers from within the industry. Whilst that can help firms meet immediate hiring needs and deliver strong commercial impact, it doesn't create a sustainable talent pool.

In reality, we're often moving the same people between businesses rather than bringing new talent in. That approach may solve short term recruitment challenges, but it does little to address the longevity of our workforce and the mortgage and protection industry as a whole.

FCA data shows the number of mortgage adviser roles fell from 34,342 in 2024 to 32,990 in 2025. There will be many factors behind that decline, but it reinforces the importance of growing the talent pool from within, rather than relying solely on competing for experienced advisers. Like many industries, mortgage and protection advice faces an ageing demographic in some areas, and if we want to continue delivering quality advice to future generations of borrowers, we need a clear strategy for attracting and retaining new talent.

The good news is that there are talented individuals with the potential to become excellent mortgage or protection advisers in every sector of the economy. The challenge is showing people a clear route into the industry, whether that’s from school or college, or for people looking for a career change.

Too often, people, myself included, say they ‘fell into’ the mortgage industry, rather than actively choosing it as a career. As an industry, we need to do more to change that perception. Mortgage advice offers a recognised professional qualification, the opportunity to make a real difference to people's lives and clear career prospects. At a time when advances in technology and AI are changing many professions, human understanding in mortgage advice will be more important than ever.

Strong communication and a genuine desire to help customers are essential skills required to becoming a successful adviser. In fact, some of the most successful advisers I have worked with have come from backgrounds in retail, hospitality, customer service and sales. They may not have started with any prior mortgage or protection knowledge, but they had the communications skills required to succeed.

We are very proud to say that we have been running our academy for more than 25 years and the aim has always been to build a sustainable pipeline of advisers. Academy programmes provide a clear pathway into the profession, and they combine qualifications, hands on experience, and mentoring to help people develop the right skills.

More than 2,500 advisers have progressed through L&C’s academy during that time, including 235 in the last two years alone. A large majority of these advisers are still either at L&C or in the industry.

Just as importantly, academies attract people from a wide range of diverse backgrounds, bringing fresh perspectives into the industry while helping firms develop advisers who understand their culture and customers from day one.

By widening the entry points into the industry, firms can access a broader and more diverse range of talent. That benefits individual businesses, but it also strengthens the profession as a whole.

The most rewarding part of these programmes is seeing where people go next. Many academy graduates build long term careers within the business, progressing into senior adviser, management and leadership roles. Creating visible career pathways is a crucial part of this process as people are more likely to join an industry if they can see genuine opportunities for progression. Entry level roles are important, but so is demonstrating where those roles can lead if people are ambitious.

My own career is a good example of clear progression. I started out as a mortgage adviser at L&C and have been fortunate enough to progress to CEO at the firm. Throughout that journey, I've seen the impact that investment in people can have, not only on individual careers but on the growth and success of the business.

Several members of my senior leadership team entered the industry as advisers, and that is no coincidence. I've always believed that customer understanding gained through mortgage advice provides an excellent foundation for leadership.

While not every firm has the resources to establish an academy programme, every organisation can play a role in developing future talent. Whether that's through mentoring, apprenticeships or graduate schemes, there are many ways to help create the next generation of advisers.

Our challenge as an industry is to ensure enough people can see a clear path into the profession and have the support needed to succeed when they get there.