The role of technology in later life advice continues to evolve as we approach 2026. Although AI dominates much of the current discussion, other established tools are already making a tangible difference to consumer outcomes. In this piece, Jonathan Thirkill, CEO of Advise Wise, shares insights on how sourcing platforms are supporting better advice across the later life journey.
As we look out over the blank canvas of 2026, within the later life market the prevailing sentiment is that we’re currently at a pivotal moment in how technology can best support client outcomes. Most recent commentary has centred on the implementation of AI into the advice journey and what this could mean for both advisers and clients alike, but it’s important not to lose sight of the value that other tools (such as sourcing platforms) can add as part of a more holistic conversation around technology-enhanced financial advice.
This was emphatically underlined by our most recent research, which asked registered advisers what they used sourcing platforms for. As you would expect, 75% unsurprisingly said they used it for product sourcing, while 53% generated KFIs directly through sourcing systems after finding appropriate product solutions. But outside of these key functions, what emerged was a pattern of advisers turning to these sorts of tools for a variety of consumer-focused reasons.
For instance, 28% of surveyed advisers claimed that sourcing platforms aided them in fact finding and for evidencing suitability, in turn underlining the importance (especially following the need to implement the Consumer Duty framework) of demonstrating the thought processes and research behind recommending both a lifetime mortgage as an overall suggestion, and a specific product.
Additionally, more than one in five (21%) of those surveyed said that they used sourcing platforms in order to access tools and calculators, such as those to demonstrate affordability or the effect of making regular repayments, highlighting how technology and resources can generate better consumer understanding and help them make informed decisions not only pre-application, but also over the full lifetime mortgage journey.
Additionally, around the same proportion of surveyed advisers (20%) turned to sourcing platforms to aid them in performing state benefit checks, again helping clients to have all the facts to be able to make a decision as to whether later life lending is the right solution for them.
At a time when the use of technology in the advice process is increasingly important, our research underlines the ways that sourcing platforms can enhance the advice journey far beyond simply researching products or streamlined KFI creation. Whether it’s resources and tools, or evidencing and vulnerability assessment support, using a trusted and effective sourcing partner undoubtedly adds value and aids delivering good consumer outcomes. With 84% of surveyed advisers looking to invest more of their time in later life lending this year, we will continue to invest in additional tools for our sourcing platform to help deliver for advisers and their clients.
The views expressed in contributed articles are those of the authors and do not necessarily reflect the views of the Council.
