Getting mortgage clients to see the value of protection insurance isn’t always easy. Julie Botha, Head of Adviser Development, shares her top tips on how best to approach protection in the mortgage conversation.

Most people favour immediate gratification over longer-term gain, so it’s no surprise that homebuyers often prioritise furnishings and décor over protection insurance. Research shows only 15% of buyers see protection as a top priority, ranking it behind furniture, décor, and home improvements¹. While financial protection may be the more sensible choice, a new sofa or kitchen delivers instant, tangible satisfaction.

Concerningly though, over half of mortgage holders say they couldn’t maintain repayments for more than six months if their income stopped.

Prioritising protection

With household finances stretched and the cost of buying a home still high, clients often feel torn between immediate needs, home improvements, bills, childcare and the less tangible benefits of insurance. At the same time, they’re more focused on the excitement of moving in than on the risks of illness or death.

Yet a mortgage is typically the largest financial commitment a person will take on. Protection therefore must form a core part of the conversation, especially when we consider the requirements of Consumer Duty and the need to avoid foreseeable harm and deliver good client outcomes. What could be more harmful than your client losing their house for the sake of a conversation around the value of protection insurance.

Approaching protection with the client

One common mistake is introducing protection at the end of the mortgage discussion. This can make it feel like an afterthought or an upsell, which clients may be resistant to. Instead, introduce protection early and revisit it naturally throughout the conversation so it feels integral, not optional.

Exploratory questions can help shift perspective. Asking why a client chose a particular home or whether they’d like to pass it on to their children encourages them to reflect on its emotional and long-term value. This can shift the emphasis from merely protecting the ‘bricks and mortar’ to the home, the people in it and the client’s long-term goals and aspirations.

You can also explore practical scenarios: if their income stopped, which bills would matter most? Or ask what outgoings they could afford to lose. These questions highlight priorities while reinforcing the importance of protection in a relatable way.

Reframing the conversation

How protection is framed can significantly influence client decisions. For example, referring to a mortgage as a “debt” can prompt a different mindset. Asking “who owns your home?” or why lenders require buildings insurance can help clients recognise their financial exposure.

When presenting recommendations, use cost comparisons to add perspective. Clients already understand their monthly spending, whether on subscriptions, phone contracts, or their mortgage. Position protection alongside these costs to show how relatively small it is compared to what it safeguards.

By making protection insurance a core part of the mortgage advice process and reframing the conversation, we can help more homeowners prioritise products like Life, Serious Illness Cover and Income Protection – all whilst maintaining the home they’ve worked so hard to acquire.

Find out more

^{1Research carried out by Opinium on behalf of Vitality with 2,000 homeowners with a mortgage between 17-26 October 2025}

We were over the moon to be named Best Technology Provider at the Professional Adviser Awards, held in London on 18 March.

This recognition means a lot because it reflects the significant progress we’ve made in our commitment to delivering outstanding technology, service and support - and the incredible team behind it.

Commenting on the win, our CEO Alistair Morgan said, “I couldn’t be prouder of our team and the journey we’ve been on. This award recognises not just the progress we’ve made, but the energy, commitment and belief that’s gone into transforming our business. To see that effort reflected in both industry recognition and client feedback is especially rewarding.”

Winning over judges - and advisers

The judges’ feedback was particularly pointed, noting how Iress has 'come back into favour' following a major turnaround. They highlighted our focus on 'real-world case studies' and a renewed effort in 'winning advisers over'- the exact pillars we put in place back in 2023 to build a uniquely UK-centric strategy.

And it isn’t just the judging panel who have noticed a difference - our clients have too. Our UK Net Promoter Score (NPS) has increased by 29.5 points since 2024, driven by client feedback, with one commenting, ‘this feels like a very different Iress’.

It was an honour to be in such strong company with the other Professional Adviser Award winners and finalists. See who took home the trophy here.

I couldn’t be prouder of our team and the journey we’ve been on.

Alistair Morgan - CEO, Iress UK

Gender differences call for a bespoke approach.

After several decades working in this industry, I’ve seen first‑hand how women’s experiences with money, work, and family shape their – and their family’s – long-term financial security.

I often find myself thinking about the freedom and confidence we all want as we move through life. The sense of autonomy we enjoy in our early twenties deserves to stay with us. Ideally, it should evolve and become even more meaningful as our families grow and as we look ahead to retirement.

Yet, for too many women, that feeling slips away.

Something we’ve been highlighting for years, and that has real consequences, is that women typically retire with smaller pension pots but live longer than men. A 55‑year‑old woman today lives (on average) three years longer than a man of the same age – with double the chance of reaching 100*. And yet only 24% of women are currently on track for a comfortable retirement, compared to 36% of men**.

These aren’t just statistics. They reflect choices and life moments that women recognise all too well. Many take career breaks, step back from full‑time work, or prioritise saving over long‑term investing, which they feel less confident about.

Sometimes these choices are made from necessity, but often women simply haven’t been given the advice or support to take a confident, long‑term view of their financial wellbeing.

It’s a society-wide issue, with a recent report from the University of Edinburgh reinforcing Scottish Widows Women & Retirement Report’s call for the UK pensions system and financial advice sector to address the gap between men’s and women’s pension wealth.

And even though many women have built healthy pension pots, there is still the important question of how to turn those savings into an income that lasts.

New-found flexibility

With that aim in mind, it makes sense that annuities are rising in popularity again*** but it’s not just down to today’s better rates. One of the persistent myths I come across is that annuities are rigid and outdated, yet they’ve quietly transformed into something far more flexible and feature‑rich than many people realise.

For women who’ve had fragmented career patterns, taken time out, or built pension wealth differently to their partners, annuities can be a powerful aid for long-term security.

Annuities remove the uncertainty of market fluctuations and there’s no need to worry about managing investments or keeping an eye on withdrawals which can be a worry with drawdown.

They can be tailored with:

• Escalation options to help protect income against inflation.
• Dependants’ benefits such as spouse’s or partner’s income continuation.
• Guarantee periods that ensure income continues for a set time.
• Value Protection on all or a portion of the initial capital outlay.

In many ways, annuities in payment mirror the best features of the defined benefit (final salary) pensions we still view as the gold standard: stable, predictable, lifelong income.

‘Wealth care’ – and planning as a couple

With lower pension savings, women, are undoubtedly more exposed to financial dependency.

At Scottish Widows, we’re constantly encouraging women to prioritise their own wealth care to secure their long-term financial security.

A critical part of that is open, proactive discussions with partners about retirement finances. Because many couples build their wealth jointly – across pensions, savings, and property – retirement planning should also be planned jointly, so that both partners understand the income that will be available in retirement, consider dependants and intergenerational wealth transfer.

When thinking about annuities, taking time to consider dependants’ benefits really matters. It is one of the simplest ways to make sure no one is unintentionally left financially vulnerable later on.

Looking ahead

Modern annuities can give women a powerful mix of reliability, flexibility and long‑lasting value — exactly what is needed to navigate longer lives, often-smaller pension pots and the uncertainty of any market swings.

With a little wealth care and open planning with partners, women can build an income that protects them and their families. And truly, what better way to approach later life than with real confidence, clarity and security.

^Sources:

^{* https://www.ons.gov.uk/}

^{** Scottish Widows Women and Retirement Report 2025}

^{*** https://www.abi.org.uk/news/news-articles/2025/2/another-post-pension-freedoms-record-for-annuity-sales/}

As we approach Q2, now is the perfect time to get ahead and discover our upcoming plans for Xplan. Be sure to register for tomorrow’s Xplan Product Roadmap Webinar to get a sneak peek of what you can expect this next quarter.

Recently we have been focused on bringing you valuable webinars designed to enhance your Xplan experience. If you didn’t catch it, be sure to watch the Xplan Unlocked: Optimising Task Hub webinar, hosted by our Iress Learning Centre. This session covered key insights on building efficient workflows and managing tasks effectively - essential knowledge for streamlining your daily operations. You can watch the recording here. For access to the training plan for Q2, please see this link.

Additionally, our Advisely team presented an insightful webinar exploring the opportunities that lie ahead for advisers as 2.5 million Australians approach retirement over the next decade. If you missed it, don’t worry you can access the recording here.

Now, onto some exciting news about Xtools+. Last year, we promised the ability to model two separate super funds within Xtools+. We’re thrilled to announce that, after some refinements, we’re now set to deliver this feature in 2025. Our latest roadmap update offers an in-depth look at the improvements we’re making, including a preview of some of the new screens, and gives you an idea of when these updates will be available on your Xplan site. To learn more click here.

Lastly, we’re always eager to hear your feedback. If you have thoughts on our Xtools initiatives, you can now share them directly through Xtools Connect.

Win a $1,000 Airbnb voucher

Share your growth plans for this year in this two-minute Advisely Growth Survey before Sunday, 27th April 2025, and you'll go into the draw to win a $1,000 Airbnb voucher – perfect for your next getaway! T&Cs apply.

As we get stuck into 2025, conference season is ramping up once again and we couldn’t be more excited to get on the road. Over the next few weeks, the team and I will be attending a few customer conferences, where we’ll be on hand to help you power up your efficiency with Xplan.

Earlier this month, we hosted our Xplan Product Roadmap, where we shared what we delivered over the previous quarter and our product plans for the year. If you weren’t able to attend, you can catch up on the key highlights and watch the recording here.

We also launched a new webinar series, Xplan Live: New features in action. This quarterly series brings you live demonstrations on Xplan’s latest features and functionalities, to help you get the most out of your software. If you missed the first session, be sure to watch the recording here to stay up to date.

Looking ahead to next month, I will be hosting a thought-provoking Advisely webinar on the opportunities that lay ahead for advisers amidst the retirement wave, with 2.5 million Australians set to retire over the next decade. This is a session you won’t want to miss, so be sure to register here.

Until next time.

In this new series, Warren O’Connell, Head of Business Development for Sourcing at Iress, sits down with some of the UK mortgage market’s movers and shakers to explore their perspectives, predictions, and personal passions driving the industry forward.

This time, Warren chats with Ash Borland, the sales and marketing coach and former mortgage broker who has built a reputation as one of the UK's top mortgage marketing experts.

So, Ash, are you ready for some Home Truths?

Tell us, what’s exciting you most about the UK mortgage market right now?

Honestly, brokers finally realising they are the brand. For years, we hid behind firms and introducers. Now, more advisers are showing their face, building an audience and owning their expertise. And it works. People don’t buy mortgages. They buy trust. The advisers who understand that are pulling ahead. The ones still hiding behind a logo are going to feel that gap widen.

Where do you see the biggest opportunities for brokers and intermediaries in the next 12 months?

Branding. Again. If that sounds repetitive, good, because most people still aren’t taking it seriously. The opportunity isn’t a new lender or a clever sourcing trick. It’s positioning yourself so clients choose you before they even enquire. If you’re competing on speed or price, you’re competing on things that technology will eventually do better and cheaper. If you’re competing on trust and depth, you’re playing a different game.

What’s one industry challenge that you think doesn’t get talked about enough?

Family Income Benefit. I still meet advisers who don’t lead with it, and I genuinely can’t understand why. If income stops, everything stops. That’s the foundation of financial security. Yet it’s barely discussed compared to other products. It’s not because advisers don’t care. It’s because the structure isn’t there. When the process is weak, the important conversations get skipped.

If you could wave a magic wand and change one thing about the mortgage process, what would it be?

I would stop separating mortgages and protection. They should be one conversation, not two. Right now, protection is technically discussed, but isn’t embedded. So it drifts. It becomes optional. It gets pushed to later. That isn’t a client issue. It’s a process issue. When protection is positioned properly, at submission and as part of completing the mortgage, outcomes improve for everyone.

What drives you personally in this industry? What keeps you motivated?

I like backing the small guy. There are plenty of voices talking about scale, exits and big teams. That isn’t my world. I’m interested in the independent adviser who wants to earn very well, serve properly and still have a life. I’ve seen single brokers outperform firms with multiple advisers, not because they hustle harder but because they operate better. That’s what keeps me motivated.

How do you see collaboration shaping the future of the mortgage space?

It’s going to stop being optional. Automation will take some of the mechanical work, that’s inevitable. So the human side becomes more important, not less. Brokers will need stronger relationships with each other, with professionals outside the industry and even with creators and influencers. Right now, collaboration is often about splits and transactions. In five years, it will be about staying relevant together.

Technology has made an enormous difference to the intermediary journey - where do you see the biggest gains still to be made?

Admin. This job has always been too admin-heavy. If technology genuinely reduces backend friction, advisers get their time back. That time should be spent having better conversations, not chasing paperwork. We’re not fully there yet. A lot of systems promise more than they deliver under pressure. But that’s where the real upside sits.

How does Iress fit into your strategy, and how do our tools and partnership help you deliver better for your customers?

From a broker perspective, tools like Xplan Mortgage help bring structure to what can otherwise feel messy. The advisers I work with who use it well see better efficiency and more control in their process. For me personally, Iress has also given me a platform. They’ve supported my voice and allowed me to represent independent advisers in bigger conversations. I respect that.

What does success look like for you - and for the industry - over the next five years?

For me, it isn’t scale. It’s adoption. More brokers building real brands. More embedding protection properly. More running structured businesses instead of chaotic ones. The industry doesn’t need to get bigger. It needs to get better.

Finally, if you could give one piece of advice to intermediaries navigating today’s market, what would it be?

Stop trying to win on things that can be automated. If your entire value proposition is speed or cost, you’re vulnerable. Slow down. Create depth. Make clients feel understood. Become the adviser they wouldn’t replace. The brokers who build something human will thrive. The ones who stay transactional will get squeezed.

Thank you Ash, for sharing your Home Truths.

At Iress, we have conversations like this every day and through industry meet-ups like our Mortgage Forum. By talking openly in this way, we can develop the right tools and technology to keep brokers and lenders ahead of the opportunities that exist in the mortgage market.

Look out for more Home Truths from our other friends and partners soon.

Would you like to be interviewed by Warren? Email him at warren.o’connell@iress.com

With rising living costs, homeowners face unprecedented financial pressure. This gives advisers an opportunity to reframe the mortgage protection conversation, writes Andy Philo, Strategic Partnerships Director for Vitality.

Unsurprisingly, recent Protection Viewpoint research from the Association of Mortgage Intermediaries (AMI) found that the ongoing economic outlook is weighing heavily on homeowners¹.

For most people with a mortgage, their home is both their biggest asset and their biggest liability. In recent years, rising living costs and mortgage rate volatility have added to the pressure. According to the AMI report, over half of mortgage holders are feeling a big emotional impact from the current economic environment when making financial decisions¹.

Given the challenging backdrop, comprehensive mortgage protection is more essential than ever, but concerningly millions of mortgage holders still lack an adequate financial safety-net.

Homeowners are lacking comprehensive cover

Talk to most people about mortgage protection and it is probably life insurance that immediately springs to their mind. This is reflected in market data, that consistently shows sales of life cover outstripping all other forms of protection.

Research by the HomeOwners Alliance and LifeSearch found that while 50% of homeowners had life insurance, just 20% had critical illness cover and only 16% had income protection²

The low uptake of income protection is especially concerning. Vitality research shows parents with a mortgage could only keep paying for 4.5 months if they lost their income³, and 46% of homeowners would struggle to meet mortgage payments within six months following a sudden loss of income due to illness or injury². Shockingly, over a third of mortgage holders have no protection cover at all!²

Rethinking what we mean by mortgage protection

As an industry, it is time to double down on our efforts to ensure more homeowners are protected. But it’s essential that we don’t just stop at protecting the mortgage debt and nothing more.

The overemphasis on life cover at the expense of other forms of protection is leading to a situation in which all that’s really being protected is the bank’s debt liability in the event of the mortgage holder dying.

Yet, premature death is the least likely risk during the mortgage term. Vitality’s Life Risk Calculator shows a 30-year-old female with a 25-year mortgage has just a 2% risk of death but a 46% risk of being unable to work for one month or more.

The FCA’s Consumer Duty makes it clear: advisers must deliver good outcomes and avoid foreseeable harm. That means recommending solutions that meet client needs, offer fair value, and help them achieve their financial objectives. Limiting cover to the mortgage debt repayment alone risks falling short of that standard.

A good outcome isn’t just about paying off a loan - it’s about ensuring clients can stay in their home, maintain their lifestyle, and recover without financial stress. It’s about thinking beyond just the debt and considering the long-term picture.

^{[1] a-m-i.org.uk/wp-content/uploads/2025/11/Protection-ViewpointThe-Next-Chapter.pdf}

^{[2] Bricks But No Backup: 2.3 Million UK Mortgage Holders Have No Financial Safety Net - HomeOwners Alliance}

^{[3] Vitality urge parents to think beyond mortgage and safeguard stability | Money Marketing}

As we start a new year, it’s clear that 2025 marked a pivotal year for trading technologies, and particularly for Iress’ Trading and Market Data (TMD) business.

Over the year, market participants across buy-side, sell-side and retail segments faced a convergence of challenges: geopolitical uncertainty, market unpredictability, sharp volatility driving increased trading activity, greater regulatory scrutiny and more rigorous operational resilience obligations.

At the same time, clients’ trading and market data priorities focused increasingly on greater platform, system and workflow interoperability. More than three-quarters of respondents to a Waters Technology data benchmark survey in December 2025 identified data transparency, workflow automation and platform integration as top investment priorities.

Against this backdrop, we are focused on continuing to modernise our trading infrastructure without significant disruption and strengthening transparency, control and resilience capabilities across our product suite.

Here’s a ‘highlights reel’ of our 2025 enhancements, and a preview of what’s coming down the line.

Continuing platform evolution

In 2025, a whole-of-industry initiative in Australia - Service Release 15 (SR15) - gave Iress a unique opportunity to reset our foundations. SR15 was a coordinated upgrade across the Australian trading ecosystem, involving the Australian Securities Exchange (ASX), brokers, technology providers, and regulators, to modernise core market infrastructure, improve operational efficiency, and prepare systems for future demands. While largely invisible to investors, SR15 was a significant technical achievement behind the scenes. For Iress, it accelerated our platform transformation, enabling us to reimagine trading as a cloud-enabled architecture that enhances interoperability, scalability, and innovation, positioning us and our clients to better navigate the megatrends reshaping global markets.

The launch of MyIress in 2025 introduced a new, browser-based, zero-install trading environment supporting multi-asset trading and improved data workflows. Built on FDC3 standards and underpinned by interop.io technology, MyIress allows firms to access Iress tools within a single workspace, and to share context seamlessly across functions. MyIress is already in production with a number of clients.

Iress Pro has also been upgraded to integrate the same widget framework as MyIress. This common platform architecture enables new features to be developed once and deployed consistently across multiple desktop and web environments, enhancing the value of our technology innovation while supporting clients to adopt new capabilities at their own pace.

We also made significant advances in our Data and Analytics solutions. Our new Iress Data Insights module normalises order and trade data (including IOS+) within a cloud-based lakehouse, supporting enhanced business intelligence, and efficient auditing and regulatory reporting. The first Data Insights module (Regulatory Reporting) went live in Australia in 2025 and the service will be rolled out globally throughout 2026.

Resilience and connectivity

In April 2025, periods of heightened volatility placed extraordinary strain on global trading infrastructure. During this window, Iress platforms and connectivity - including the UK Retail Service Provider (RSP) network - processed record trading volumes with no material service degradation, reinforcing the resilience and ‘peak volume’ scalability of our trading technology architecture.

At the same time, our market connectivity expanded. The Iress FIX Hub (IFH) has seen accelerating adoption rates worldwide, with its cloud-based infrastructure now providing seamless access to over 600 brokers and venues. 2025 also saw the introduction of AWS PrivateLink FIX connectivity and external monitoring to provide real-time visibility and control over FIX infrastructure.

Iress TMD’s investment in IFH was recognised in the Waters Technology Buy-Side Technology Awards 2025 as Best Cloud Infrastructure Provider, and in the Waters Technology Asia Awards 2025 for Best Trading Network. These prestigious industry accolades acknowledge our industry-leading cloud engineering expertise in FIX connectivity and reflect our continuing commitment to empowering financial market participants globally with fast, reliable and connected trading solutions.

Modernisation without disruption

Technology innovation is only part of the equation. Throughout 2025, Iress TMD’s investment in service and implementation models reflected real-world operational constraints.

Same-day certification for FIX Hub onboarding, templated EMS configurations and faster deployment frameworks reduced time-to-value for new services. At the same time, regionally aligned delivery and support teams across APAC, EMEA and North America ensured continuity from implementation through to production.

Large-scale migrations were completed without downtime, underpinned by embedded observability and shared telemetry tools allowing clients to validate performance and resilience in real time, using the same data as Iress’ own operations teams.

Much more in store for 2026 and beyond

Financial markets participants are shifting from legacy, fragmented technology stacks towards integrated, resilient and scalable ecosystems that support extended trading hours, real-time oversight and market unpredictability.

In 2026 and beyond, interoperability and workflow automation are increasingly default client expectations, and we will continue to expand FDC3-enabled workflows across MyIress and Iress Pro. This will enable, select third-party partners to seamlessly integrate into the MyIress and Iress Pro functionality. There will also be a suite of interoperable market data widgets launching throughout the year across both these platforms.

Iress Data Insights will drive actionable data intelligence beyond reporting: The next delivery phase expands our available data sets alongside the introduction of AI-driven anomaly detection and predictive compliance capabilities. Embedding real-time alerts into trading workflows transforms reporting into actionable operational intelligence.

Connectivity will also evolve, with cloud liquidity adapters supporting API-based venue access and new asset classes. Richer, risk management functionality will also be made available as an additional module to all FIX connections. This rules-based engine will include volume and pricing hard stops and alerting functionality. Buy-side EMS capabilities will further expand across asset classes, with richer post-trade analytics.

All technology innovations and product enhancements are underscored by our modular, cloud-first architecture strategy and incremental, interoperable enhancements that minimise client-side disruption.

More than a technology provider, Iress TMD is a strategic infrastructure partner helping global financial market participants to navigate market uncertainties and technology complexities with confidence. While reflecting on a successful year in 2025, our focus in 2026 is very firmly on maintaining this momentum as we roll out platform enhancements, service upgrades and trading and market data innovations to our clients globally.

A new nationally representative survey by Iress with YouGov and The Lang Cat has revealed how people across the UK are really feeling about their finances.

• 46% of UK adults say they feel financially secure.
• Only 11% meet the benchmarks of true financial security.
• The UK’s overall Financial Readiness score is 44.2 out of 100, placing the nation in the “financially uncertain” category.

These are the headline findings from the new Iress Financial Readiness Index - a nationally representative study conducted by YouGov among 2,103 UK adults, with independent analysis and benchmarking by The Lang Cat.

At a time defined by rising cost of living and economic uncertainty, the Index offers a clear, data-led measure of how prepared people actually are, not just how secure they feel. The findings highlight a clear gap between perceived and actual readiness.

What is financial readiness?

Financial readiness is a measure of a person’s ability to meet both current financial commitments and future financial needs with confidence and resilience.

It goes beyond income levels or savings balances. It reflects whether someone:

• Stays on top of bills consistently
• Holds adequate emergency savings
• Has appropriate insurance and protection
• Actively contributes to retirement planning
• Invests for long-term growth
• Feels in control of day-to-day finances

Understanding readiness offers insight into household priorities, pressures, and behavioural gaps, helping advisers and the wider financial services ecosystem better support UK adults at every stage of life.

About the Iress Financial Readiness Index

Iress commissioned the Financial Readiness Index to provide advisers with a data-led, holistic view of how UK consumers feel about their finances, how they behave in practice, and how ready they are for the future.

Key elements of the research include:

• Financial confidence and daily money habits
• Protection, home ownership, and retirement planning
• Nationally representative data across demographics
• Benchmarking to highlight gaps and barriers to financial security

The Index exposes a clear disconnect in the market: while 46% of adults believe they are financially secure, only 11% meet all benchmarks for true financial security.

Key Findings from the Iress Financial Readiness Index

Financial readiness across life stages

The Index show that financial readiness is not uniform across age groups:

• Younger adults: Focused on building savings, investing, and securing housing. Many are constrained by high rental costs and student debt.
• Mid-life households (35–44): Most financially exposed, balancing mortgages, childcare, and rising living costs. Readiness scores dip noticeably.
• Adults 55+: Higher resilience due to established savings, clearer retirement plans, and reduced housing costs, though retirement adequacy remains a concern.

Gender also plays a role: men report higher readiness than women, reflecting differences in confidence, savings behaviour, and long-term planning.

The confidence gap: perception vs reality

The Index highlights a clear gap between perceived and actual readiness:

• Nearly half feel financially secure
• Only 11% actually meet all readiness benchmarks
• 17% feel prepared to meet none of their financial needs

This gap shows that confidence alone does not equate to resilience, leaving many households vulnerable to shocks like unexpected bills, job changes, or health events.

Turning insights into action for UK financial advisers

The Index offers practical opportunities for financial advisers to turn insights into actionable strategies that support clients and comply with Consumer Duty.

1. Highlight the gap between perception and reality

Many clients believe they are secure, but only 11% meet all benchmarks. Advisers can use this to spark conversations and demonstrate value, supporting the Consumer Understanding outcome. Examples include newsletters, social posts, or client reviews.

2. Tailor messaging by life stage

Readiness varies by age. Mid-life clients (35–44) often feel most pressure. Life-stage-specific messaging improves relevance and helps clients understand products that meet evolving needs.

3. Build client confidence through planning

Only 37% of non-retired adults feel confident they will retire when they want. Advisers can use insights to strengthen retirement and financial planning conversations, reassuring clients and supporting confidence.

4. Engage clients early with education and tools

Many clients save but do not invest or lack protection. Webinars, guides, calculators, or the Financial Readiness Index itself can educate and encourage earlier, informed engagement.

5. Focus on key financial gaps

Protection, retirement, and home ownership gaps show where advice is most needed. Advisers can create content around life events such as buying a home or starting a family, helping clients access services that genuinely meet their needs.

Why it matters: By turning insights into action, UK advisers can bridge the gap between confidence and preparedness, enhancing client engagement, resilience, and regulatory compliance.

Why the Financial Readiness Index matters

The Index provides a credible, data-led benchmark for financial security in the UK. It highlights:

• National trends in confidence and preparedness
• Behavioural gaps in savings, protection and retirement planning
• Opportunities for advisers and the financial services sector to add meaningful value

In a time of economic uncertainty, the Index encourages better-informed decisions, proactive planning, and stronger household resilience.

In this new series, Warren O’Connell, Head of Business Development for Sourcing at Iress, sits down with some of the UK mortgage market’s movers and shakers to explore their perspectives, predictions, and personal passions driving the industry forward.

This time, Warren chats with Jinesh Vohra, CEO at Sprive, the mortgage overpayment app on a mission to help homeowners become debt-free faster just by doing their everyday shopping.

So, Jinesh, are you ready for some Home Truths?

Tell us, what’s exciting you most about the UK mortgage market right now?

After years of very little innovation, it finally feels like we’re at a turning point. We’re seeing genuine momentum behind solutions that meaningfully improve the customer experience. Technology and AI are beginning to unlock opportunities around personalisation, efficiency, and customer engagement that simply didn’t exist before. Products like Sprive are scaling fast, lenders are becoming more open to digital partnerships, and there’s a real appetite for change. For the first time in a long time, it feels like the industry is moving from reactive problem-solving to proactively designing better journeys for homeowners.

Where do you see the biggest opportunities for brokers and intermediaries in the next 12 months?

The biggest opportunity lies in transforming how brokers engage with customers. Traditionally, the relationship has been very transactional and largely limited to once every two to five years. In a world of rapid innovation, rising competition, and AI-driven alternatives, that model simply isn’t enough. The brokers who win will be the ones who stay close to customers year-round, use data intelligently to add ongoing value, and embrace technology to streamline admin-heavy tasks. Tools that help with lead generation, pre-assessment, and sourcing will create huge competitive advantage. Customers increasingly expect digital-first experiences, so brokers who modernise their journey will be in a stronger position.

What’s one industry challenge that you think doesn’t get talked about enough?

We don’t talk enough about the long-term structural risks building up in the market. More people are borrowing more money over much longer terms, simply because house prices are rising far faster than salaries. Millions are now projected to carry a mortgage well into their 60s and 70s. Combine that with higher interest rates, the cost-of-living crisis, and uncertainty around the impact AI will have on the job market, and you have a real societal issue.

If we don’t help homeowners get ahead of their mortgage burden, we risk seeing rising defaults, greater financial insecurity later in life, and a generation without enough retirement resilience.

If you could wave a magic wand and change one thing about the mortgage process, what would it be?

I’d enable customers to digitally remortgage for straightforward cases in the same seamless way they can complete a product transfer today. No endless form-filling, no painful back-and-forth, and far less manual underwriting. Giving advisors modern, digital tools to execute vanilla remortgages quickly would dramatically improve the experience for everyone involved.

What drives you personally in this industry? What keeps you motivated?

I’m motivated by a very simple mission: helping homeowners take control of their mortgage and reduce the amount of interest they pay over their lifetime. Debt weighs heavily on people. It affects family life, finances, well-being, and long-term security. Knowing that Sprive can help people become mortgage-free faster, save eye-watering amounts of interest, and put themselves in a better position for the future is what fuels me every day. We’re not just helping people secure a mortgage; we’re helping them manage it responsibly for decades to come.

How do you see collaboration shaping the future of the mortgage space?

The future will be shaped by collaboration between lenders, brokers, technologists, and consumer-focused platforms. Customers will expect more control, more transparency, and more digital experiences, and no single part of the industry can deliver that alone. Partnerships between lenders and fintechs will be essential in modernising processes, improving affordability assessments, and giving customers a continuous journey from day one of their mortgage through to the day they pay it off.

Technology has made an enormous difference to the intermediary journey - where do you see the biggest gains still to be made?

The largest gains will come from reducing friction in the application process. Advisors still spend huge amounts of time collecting documents, sourcing data, validating information, and dealing with manual processes. Automating data flows such as income verification, property data, affordability checks, digital ID will free advisors to focus on the human part of the job. AI will also play a much greater role in helping customers shop smarter, complete tasks faster, and get clearer guidance earlier in their journey.

How does Iress fit into your strategy, and how do our tools and partnership help you deliver better for your customers?

Iress has been a key partner from day one. Sprive would likely not exist in its current form without its technology. Their sourcing tools help us power personalised, real-time mortgage insights for every customer. That means homeowners stay informed, understand their options, and have more control over their mortgage journey. The combination of Iress’ data and our mission-led platform allows us to support homeowners not just at the point of advice, but every single day as they work to reduce their mortgage faster.

What does success look like for you - and for the industry - over the next five years?

For Sprive, success means becoming the go-to platform for homeowners who want to pay off their mortgage faster and manage it more intelligently. It means helping millions of people save interest, reduce their debt, and avoid the long-term risks we’re seeing build up in the market. For the industry, success means better outcomes for customers: more transparency, more digital journeys, faster processes, and stronger long-term mortgage resilience.

Finally, if you could give one piece of advice to intermediaries navigating today’s market, what would it be?

Expect change that will likely happen over the next 5 years and embrace it. For years, tech players struggled to break in, but it’s naive to think the industry will stay the same forever. Lenders are making significant tech investments, AI is accelerating fast, and customers expect modern experiences. Stay close to your customers, diversify the value you bring, adopt new tools early, and keep an open mind to innovation. The firms that adapt will thrive; those that don’t will fall behind.

Thank you Jinesh, for sharing your Home Truths.

At Iress, we have conversations like this every day and through industry meet-ups like our Mortgage Forum. By talking openly in this way, we can develop the right tools and technology to keep brokers and lenders ahead of the opportunities that exist in the mortgage market.

Look out for more Home Truths from our other friends and partners soon.

Would you like to be interviewed by Warren? Email him at warren.o’connell@iress.com

With 2025 now in full swing, we’re excited to jump into the year ahead, focused on supporting your efficiency and helping you optimise Xplan.

This year, we’re diving into larger, transformational changes. Our strategy is designed to address the evolving needs of the industry, empower your teams to work smarter, and ensure your clients experience greater value with seamless interactions.

We’re kicking off the year with our first Xplan Product Roadmap of 2025 next week. During this session, we’ll share our product plans for the year, and the key transformational changes we’re implementing to deliver better outcomes for you. Be sure to register here so you don’t miss out.

We know you need more support in getting the most out of Xplan. Starting in February, we will launch a new quarterly webinar series with live demonstrations on the newest Xplan functionality and how it can benefit your practice. You’ll walk away with practical insights to enhance your workflow. Make sure to register here to join us.

This quarter, you’ll find us at a number of exciting events, including the Australian Wealth Management Summit & Awards in Sydney and the AMP Live Conference in Brisbane this March. Hope to see you there.

Until next time.

Kerry Ong

In this new series, Warren O’Connell, Head of Business Development for Sourcing at Iress, sits down with some of the UK mortgage market’s movers and shakers to explore their perspectives, predictions, and personal passions driving the industry forward.

This time, Warren chats with Lottie Dougill, Head of Home Finance Distribution at Gatehouse Bank, the Shariah-compliant, responsible UK challenger bank.

So, Lottie, are you ready for some Home Truths?

Tell us, what’s exciting you most about the UK mortgage market right now?

It’s encouraging to see the growth of alternative finance types as customers look beyond conventional financial providers to find the best fit for their specific needs. This is providing an increase in healthy competition within the market and placing the power with customers, making this an exciting time for product innovation and more specialised service options. As we are seeing at Gatehouse Bank, many are attracted by organisations that are offering a wider and more innovative product offering than has previously been available. This can be especially helpful for customers with more complex cases or niche requirements, as well as those residing overseas.

Where do you see the biggest opportunities for brokers and intermediaries in the next 12 months?

With ESG considerations becoming increasingly important, the rise of ethical finance will continue to pose a big opportunity in the next year and beyond. As a Shariah-compliant Bank which sees being a responsible and sustainable provider as the guiding principle behind our operations, this is something we are particularly interested in. For consumers, there is considerable demand for ethical and sustainable financial products, with Islamic finance providing a credible alternative to conventional forms of finance. This is evidenced by our Islamic and Ethical Finance Consumer Report, where over half (55%) of Muslims said they would pay a higher rate for a green finance product. Previous research we conducted also highlights this desire within the home finance sector, specifically, where almost half (45%) of UK homebuyers would consider using an ethical finance provider that follows Islamic principles. It will become increasingly important for brokers to have an understanding of alternative finance types which are more ethical in nature, such as Shariah-compliant finance, to ensure they are best able to serve the changing needs of customers and take advantage of the wealth of opportunities this is likely to offer.

What’s one industry challenge that you think doesn’t get talked about enough?

At Gatehouse Bank, we work with many brokers and customers who are based overseas and the lack of standardised global compliance frameworks in place, which includes the documentation required to secure finance, can be a challenge in some cases. We know that our BDMs have the knowledge and expertise to provide guidance on this and ensure the process of securing the home finance required is as smooth as possible, but the lack of standardisation is confusing to some, especially if it is a complex income case that may require a more nuanced approach.

If you could wave a magic wand and change one thing about the mortgage process, what would it be?

While it is so important for all the necessary legal checks and compliance procedures to be carried out, especially when it comes to anti-fraud measures, the current process for doing these can often delay completions by weeks or months. I would like to see an automated, more standardised approach introduced. This would be effective in reducing turnaround times, enabling providers to release funds quicker and, most importantly, improve customer satisfaction.

What drives you personally in this industry? What keeps you motivated?

It is incredibly rewarding to help people become homeowners and to create solutions for brokers which ultimately help their customers to achieve their goals too. Strong professional relationships built on trust are key within this industry and I thrive on creating strategic partnerships that will benefit all involved, including customers, developers and brokers.

How do you see collaboration shaping the future of the mortgage space?

An environment which encourages global collaboration between UK providers like Gatehouse Bank and overseas introducers and developers is a key driver for future growth. With many UK expats and international residents seeking to invest in the UK property market, it is only through working closely with overseas partners that we can enable and support them to achieve their property ownership goals.

Technology has made an enormous difference to the intermediary journey – where do you see the biggest gains still to be made?

The introduction of collaborative data models between UK and overseas credit reference agencies would be a game changer. This would do a great deal to support international customers, particularly in complex income cases.

How does Iress fit into your strategy, and how do our tools and partnership help you deliver better for your customers?

As the industry, and the financial services sector as a whole, moves further toward digital transformation, having a robust technology partner is a key factor in being able to deliver our product proposition. It allows us to enhance broker connectivity and widen distribution which, ultimately, supports our strategic growth.

What does success look like for you – and for the industry – over the next five years?

The Islamic finance sector has been rising in popularity as an alternative finance type over the last few years, resulting in it becoming one of the fastest growing sectors in financial services globally. While it is great to see more people looking outside of conventional finance for the products and services that best suit their needs, more can be done to help this sector reach its full potential. Success for me, will involve providers of Islamic finance and brokers working together to increase knowledge and awareness of the options available to those seeking Islamic property finance while also working to remove barriers and lingering misconceptions which may be holding people back from seeing it as a viable option. An enhanced familiarity with Islamic finance will not only help brokers to cater to the diverse nature of the UK market, which includes four million Muslims but will also encourage further investment from international investors seeking property within the UK.

Finally, if you could give one piece of advice to intermediaries navigating today’s market, what would it be?

Building on what I’ve already said, I would encourage brokers and intermediaries to embrace the potential of alternative property finance types, including Islamic finance, through increasing their knowledge of the key differences and how to offer it as a viable option to their clients. At Gatehouse Bank, our Business Development Managers offer training and development dedicated to ensuring that different ways of financing home ownership and investment properties are not overlooked and we are happy to support anyone who may want to learn more about how the sector. As the home finance market continues to change and develop, having an understanding of alternative finance will help intermediaries to tap into new markets and continue to provide the best service to their clients.

Thank you Lottie, for sharing your Home Truths.

At Iress, we have conversations like this every day and through industry meet-ups like our Mortgage Forum. By talking openly in this way, we can develop the right tools and technology to keep brokers and lenders ahead of the opportunities that exist in the mortgage market.

Look out for more Home Truths from our other friends and partners soon.

Would you like to be interviewed by Warren? Email him at warren.o’connell@iress.com

Wow, what a year it's been! We set new records, built smarter tech and helped secure more people's futures than ever before.

From processing the equivalent of one mortgage quote for every person in Britain, to securing a 10-year high in protection applications, together with our clients and partners, we've made an impact.

Join us for a look back at a record-breaking year of innovation, collaboration and growth across Protection, Retirement and Mortgages in Sourcing 2025 Wrapped.

As we wrap up another year, my second as MD for Sourcing, I want to thank you for your loyalty and partnership - we couldn't do this without you!

Jennifer Rafferty - Managing Director - Sourcing

For many aspiring homeowners, the journey to buying a first home can feel less like an exciting milestone and more like a marathon they never signed up for. With property prices remaining high and rents continuing to rise, many first-time buyers are finding it difficult to save for a deposit – especially when rent could cost more than a mortgage payment.

At Skipton we think it’s time the market and lenders adapted. We have a mindset that looks beyond a ‘typical’ buyer and we could work together to help make the first step onto the housing ladder feel possible for more people.

Understanding the challenge

In partnership with Oxford Economics, we launched the third edition of our Skipton Group Home Affordability Index to delve deep into the first-time buyer housing crisis. And the results are hard to ignore:

• Around five million adults are still living with their parents in Great Britain^**.
• 98% of adults living with their parents are unable to afford the average first-time buyer homes in their local area based on their financial situation^*.

It’s a wake-up call, and one we’re taking directly to policymakers. We’re pushing for sector-wide collaboration to unlock homeownership for a trapped generation. We want to see:

• Reforms made to property taxes to remove the burden on first-time buyers. We believe this could make a significant difference to improving the flow of the housing market. A healthy market relies on free movement: older owners downsizing, families upsizing and - of course - first-time buyers getting on the ladder. Policy should encourage that flow, not restrict it.
• Reforms to Lifetime ISAs and Cash ISAs. Both have acted as a valuable tool for many to save for a deposit, but we need to see reform from the government to meet the challenges of today and for the future.

We’re not just here to highlight the problem. We'd like to help fix it too. Over the past two years, we’ve launched a range of first-time buyer products designed to help you remove barriers and open doors for your clients. Products to help with affordability, low deposit cases and more.

Skip to hope - a new era for first-time buyers

Everyone deserves a place to call home, and together, we could help more people get there.

By thinking beyond standard lending approach and using these tools creatively, together we could find a route to ownership even for clients who might otherwise struggle. It’s about taking a flexible, common-sense approach that works in real life.

Helping people into homes has been part of who we are since 1853. Today, our purpose continues, and we’re determined to lower the ladder for the next generation of homeowners.

^{**Office for National Statistics (2021)}

^{*Skipton Group Home Affordability Index 2025}

^{For intermediary use only.}

^{Please read the following information carefully. If you do not agree or understand any part please do not use the Skipton Group Home Affordability Index, or act or omit to act in consequence of it.}

^{The Skipton Group Home Affordability Index is not a benchmark for the purposes of UK Benchmark Regulation, nor for the purposes of any other legislation or regulation. The Skipton Group Home Affordability Index is produced for information purposes only and must not be used or relied upon for commercial purposes, including as a reference for:}

• ^{determining an amount payable under a financial instrument or a financial contract;}
• ^{determining the value of a financial instrument; or}
• ^{measuring the performance of an investment fund with the purpose of:}
• ^{tracking the return of such index; or}
• ^{defining the asset allocation of a portfolio; or}
• ^{computing the performance fees.}

^{It must not be used for any decisions and/or advice.}

In this new straight-talking series, Warren O’Connell, Head of Business Development for Sourcing at Iress, sits down with some of the UK mortgage market’s movers and shakers to explore their perspectives, predictions, and personal passions driving the industry forward.

This time, Warren speaks with Zara Bray, Distribution Director at one of the UK's largest Mortgage and Protection Networks, Quilter Financial Planning. Quilter has been an Iress client for over 10 years. Their advisers use our Xplan Mortgage software to efficiently and easily source and apply for mortgage and protection products. So what Home Truths does she have to share? Let's find out.

Zara, tell us, what’s exciting you most about the UK mortgage market right now?

What excites me at the moment is that advisers are right at the centre of helping people rebuild confidence after a very turbulent couple of years. The demand for good advice hasn’t gone away; if anything, it’s strengthened. Customers are coming back to their advisers earlier in the process, asking more questions, and wanting ongoing support rather than one-off transactional help. The lenders are innovating again, too, which is refreshing after a period of pricing volatility when product development took a back seat. There’s plenty for advisers to get excited about.

Where do you see the biggest opportunities for brokers and intermediaries in the next 12 months?

This year is a massive refinance cycle, and that gives advisers a golden opportunity to re-establish relationships and check whether a customer’s protection and wider financial needs are still being met. Affordability has improved in recent months, but this news hasn’t necessarily reached the customers that could benefit from these changes, so clients need an adviser who can build awareness, navigate the nuances of lender policy and help them plan sensibly for the long term, especially with inflation still influencing budgets. That advisory guidance is priceless. We’re also seeing rising demand in later-life lending, self-employed and contractor spaces, and green/energy-efficiency improvements. Advisers who skill up in these areas now will be ahead of the curve.

What’s one industry challenge that you think doesn’t get talked about enough?

The shrinking pool of advisers. I’m passionate about quality advice being accessible to everyone, but unless we bring new people into the profession, that simply won’t be possible. It takes time, money and structured support for a firm to grow its talent pipeline, and many advisers who would make brilliant mentors are already stretched. That’s why at Quilter, we’re actively sponsoring individuals through their CeMAP and supporting firms to build sustainable businesses and rewarding careers.

If you could wave a magic wand and change one thing about the mortgage process, what would it be?

I’d create a simpler, more joined-up journey for customers. Too many clients still feel the process is opaque, and advisers end up carrying the emotional load of explaining every delay or document request. We’ve come a long way with technology at the advice stage, but the processes that follow for house buyers are slow and clunky. With better connectivity between lenders, advisers and partners end-to-end, we could reduce friction dramatically. Anything that gets customers in their homes sooner and frees advisers to spend more time giving advice is a win in my book.

What drives you personally in this industry? What keeps you motivated?

I’ve been in distribution roles for over 20 years, and the one constant is my belief in the power of good advice. It changes lives. I also love helping people reach their potential, whether that’s advisers growing their businesses or colleagues stepping into new roles they never thought they’d be capable of. What keeps me motivated is the pace of the market. There’s always something new to tackl,e and no two days are ever the same. Ultimately, I want our advisers to feel supported and proud to be part of Quilter.

How do you see collaboration shaping the future of the mortgage space?

Collaboration is everything. Consumer Duty has encouraged firms, networks and lenders to work together more closely on outcomes, and that’s been a good thing. Advisers increasingly want partners who help them run better businesses. Our role as a network is to do the heavy lifting on compliance, technology and proposition so firms can focus on the relationships that matter. When everyone plays to their strengths, the whole sector moves forward. I’ve personally gained so much from being on the AMI Board; the work they do is a shining example of collaboration in our industry.

Technology has made an enormous difference to the intermediary journey – where do you see the biggest gains still to be made?

The biggest gains will come from automation in the background, the bits advisers don’t see but really feel. Faster decisioning, cleaner data flows, fewer repetitive admin loops. Tech should enable advisers, not replace them. When used well, it gives them more time with clients, allows more informed conversations, and lets them build a more holistic view of a customer’s needs. We’re investing heavily in this space because it’s key to staying relevant in a more complex advice landscape.

How does Iress fit into your strategy, and how do our tools and partnership help you deliver better for your customers?

Technology underpins everything we’re building. Advisers need tools that are intuitive, integrated, and actually remove friction. Our focus is on modernising the adviser experience and ensuring that, whether it’s sourcing, suitability, protection or case progression, our systems help advisers deliver the kind of consistent, compliant and human-centred service customers expect. When advisers feel confident in the tools they’re using, it frees them up to give much more value to customers.

What does success look like for you – and for the industry – over the next five years?

For me, success is a thriving, growing mortgage network where advisers feel supported, valued and excited about the future. I want Quilter to be recognised not just as a wealth brand, but as a force in mortgages and protection. For the industry, success means more advisers entering the profession, greater diversity of thought and background, and continued innovation from lenders. We can’t afford to stagnate; customers’ needs are becoming more complex, and the industry must evolve with them.

Finally, if you could give one piece of advice to intermediaries navigating today’s market, what would it be?

The only thing you can be sure of is that change is coming. The FCA has a 5-year strategy for our sector and technology, and AI is evolving faster than we’ve ever seen before, so my advice is to prepare yourself, your business and your customers for change. Agility and adaptability will be key strengths of our successful intermediaries and the businesses that rely on them to trade.

And don’t forget protection, now more than ever, customers need guidance on securing their family’s future.

At Iress, we have conversations like this every day and through industry meet-ups like our Mortgage Forum. By talking openly in this way, we can develop the right tools and technology to keep brokers and lenders ahead of the opportunities that exist in the mortgage market.

Look out for more Home Truths from our other friends and partners soon.

Would you like to be interviewed by Warren? Email him at warren.o’connell@iress.com

As the year draws to a close, I’d like to thank you for your continued partnership and trust in us. Your support motivates us to continually innovate and improve to meet your evolving needs.

In October, we had the opportunity to hear directly from many of you through our annual customer survey. Your insights have been invaluable in shaping our plans for 2025. We’re pleased to share that customer satisfaction has improved, with highlights including:

• Recognition of our account managers and support staff’s dedication.
• Greater transparency in our plans through our quarterly roadmap webinars.
• Positive feedback on our product roadmap and enhancements to Xplan made in 2024.

However, we know there is more to do to meet your expectations, and we are committed to addressing your feedback, including:

• Enhancing support and tools to help you optimise Xplan in your business.
• Improving the user experience of Xplan, including navigation, the client portal, and data feeds.
• Addressing system performance, particularly the speed of Xtools+.

Your feedback is already shaping our 2025 priorities, and we look forward to keeping you updated on our progress.

As the festive season approaches, we wish you and your loved ones a joyful holiday season and a prosperous New Year.

The world of work has changed significantly this decade. The pandemic not only highlighted that it’s possible to work in different ways but also provided a catalyst for people to really think about what work they are doing and why.

LinkedIn data shows one third of UK professionals would accept a pay cut for a role that had greater purpose^[1]. This figure rises to almost half of those in Gen Z.

Work is no longer just about the monthly pay cheque, although that is still important. It has a much larger impact on how we see ourselves and how others see us.

Feeling what you do is worthwhile and that it makes a positive difference is vital to the youngest members of the workforce. 89% of Gen Z workers and 92% of Millennial workers consider a sense of purpose to be important to their job satisfaction and wellbeing^[2].

Our recent survey with 2,420 working people supports this shift in attitudes. 70% of respondents said they take a lot of pride in the job or work they do, with more than a third (35%) strongly agreeing with this statement.

Interestingly, it isn’t just younger workers who say they take pride in their work. 72% of respondents who are Boomers – those aged between 60 and 78 – agreed with this statement, the same percentage as respondents who are Millennials.

For many, work has a fair wider remit than providing money to live on. It provides value and purpose which people can be proud of. If they are unable to work through illness or injury for weeks or even months, they are not just losing out financially, their confidence and self-worth can also be severely affected.

The pandemic not only changed how work is viewed, but it also showed that anyone can get ill at any time. Our survey last year with 2,000 UK adults underlines this. Over a quarter of respondents (27%) said they had taken a month or more off work due to illness during their working lives. The average time these people had spent off sick was four and a half months. Nearly a quarter (23%) had taken six months or more off work, a substantial time to be away from their usual roles and being able to contribute to society.

Our research highlighted taking a month or more off work is far from unusual. This is most likely to be the result of an accident or a common complaint, such as back pain, which can afflict anyone. Even just a few weeks off work can begin to dent confidence and erode good mental health.

The support services offered through income protection such as 24/7 GP virtual services or mental health counselling, can be hugely valuable, offering help straightaway that can mitigate the self-doubt which can take over when you are unable to do that thing that partially defines you.

Just talking about the financial benefits of income protection misses the point. It does so much more than pay your bills. It supports you in getting back to the life that you had, helping you do the things that give you pride and satisfaction. The added value services are an integral part of the proposition and should be a primary part of any conversation, not an afterthought.

^{[1] The Big Shift: What UK Workers Really Want In 2025 | Forward Role}

^{[2] Deloitte Global Gen Z and Millennial Survey 2025}

Rising compliance and portfolio management demands are leaving many financial advisers struggling to focus on what they do best – helping clients navigate life’s big decisions. Here’s how a well-designed MPS can ease the pressure and help your business grow.

Ahead of launching our new Model Portfolio Service (MPS) on platform, in September 2025 we commissioned independent researchers to speak to 100 UK-based independent financial advisers, each managing average client assets of just under £1 million. The aim was to understand how they use MPS today, what the biggest challenges are and how they see the future of advice evolving.

Financial planning is the priority but time is short

The study confirms what many already know from experience: advisers are under pressure. Portfolio management, compliance and administration are taking up time that could otherwise be spent on planning, client conversations and business development.

While advisers continue to divide their time across multiple areas, only 43% believe their current split allows them to focus on what really matters to clients. Almost half said financial planning, from tax and pensions to estate and inheritance advice, offers the greatest opportunity to build long-term relationships. When asked what truly differentiates a financial adviser in today’s market, two-thirds pointed to comprehensive, forward-looking planning rather than superior investment performance.

There’s no question about where advisers want to focus their time. The challenge is how to get there.

98% of advisers surveyed said that compliance and documentation requirements delay their ability to make timely portfolio decisions.

Compliance and admin are slowing everything down

Regulatory demands are now one of the biggest constraints on adviser time. Nearly all respondents (98%) said that compliance and documentation requirements delay their ability to make timely portfolio decisions, and a fifth described the impact as significant. Looking ahead, nine in ten advisers expect the compliance burden to grow even further over the next three years.

Portfolio management is adding to the strain. While some advisers say they spend fewer than five hours a month on portfolio-related work, three-quarters are spending between six and 20 hours. Many expect that commitment to rise. The most common portfolio-related pain points include the time taken to rebalance, the difficulty of keeping up with market moves and the challenge of maintaining consistency across clients.

74% of advisers said an MPS solution that integrates with their current tech framework is essential. Learn more about our enhanced Model Portfolio Service.

Time pressures are holding back growth

Advisers were also clear about the opportunity cost of managing portfolios in-house. Two-thirds said that if they could reallocate just five to ten hours of portfolio management time each week, they could grow their client base by up to 10% over the next year. A further quarter said they could grow by between 11% and 20%.

When asked how they would use that extra time, most advisers said they would focus on bringing in new clients, doing deeper tax and estate planning work, and having more proactive conversations with current clients.

For firms looking to scale without sacrificing service, this kind of shift could be transformative.

MPS is playing a bigger role and advisers expect more from it

The research suggests that MPS is already well embedded in many advice businesses, but its role is set to grow. Six in ten advisers say between 26% and 50% of their clients’ investable assets are currently in model portfolios, and nearly half expect that proportion to rise to more than 50% in the next three years.

Advisers also expect more from MPS solutions. Nine in ten said they plan to increase their use of actively managed portfolios, citing economic uncertainty, market volatility and the need for greater portfolio resilience as the main reasons. The same proportion said they would make greater use of MPS if more services offered high-conviction, outcomes-led solutions at fair and competitive prices.

Saving time remains a top priority when selecting investment solutions, followed closely by risk management, client suitability and access to research. Advisers also want MPS providers that make compliance easier, not harder.

Meeting adviser needs with a smarter approach

The message is clear: advisers want more time for planning, less friction in portfolio management and stronger support in meeting their regulatory obligations. Model portfolio services that can deliver on those needs, without adding complexity or cost, are increasingly seen as essential to the future of advice.

Advisers also want MPS solutions that fit neatly into their existing platform infrastructure. In the survey, 74% said integration with their current tech framework is essential, making ease of use and compatibility key factors when selecting a provider.

In this new series, Warren O’Connell, Head of Business Development for Sourcing at Iress, sits down with some of the UK mortgage market’s movers and shakers to explore their perspectives, predictions, and personal passions driving the industry forward.

This time, Warren chats with Tanya Toumadj, MD at Mortgage Broker Tools, the market leader in mortgage affordability. Iress and MBT have worked together since 2020, and Warren and Tanya have shared the stage many times to discuss the mortgage market, its challenges, innovations and opportunities. They're known for their honest takes and insights - so, Tanya, are you ready for some home truths?

Tell us, what’s exciting you most about the UK mortgage market right now?

Can I pick two? Firstly, it’s the amount of innovation we’re seeing from lenders. For a long time, the market felt very price-driven, but that’s really starting to shift. Lenders are now looking beyond rates and focusing on areas like affordability and criteria, which is making it possible for more people to access borrowing. And secondly, it is seeing collaboration finally coming together in the tech space, giving brokers best-of-breed solutions in one place as opposed to a “one size fits all” approach.

Where do you see the biggest opportunities for brokers and intermediaries in the next 12 months?

I think the real opportunity is in automation and simplification. Technology has evolved so much, and brokers now have access to software that can remove a lot of the manual work that eats up their time. By using the best software available, brokers can spend less time on admin and more time on what really matters, which is building relationships with clients and giving quality advice. The firms that embrace that balance between tech and human touch are the ones that’ll thrive.

What’s one industry challenge that you think doesn’t get talked about enough?

Affordability is one of those topics that comes up a lot, but not always in enough depth. At MBT, we talk about it constantly because it’s such a key part of the lending landscape and it’s something lenders can use as a lever for growth, provided they manage risk properly. What doesn’t get highlighted enough is that in over 70% of cases, the lender offering the best affordability isn’t one of the top ten. That’s a big deal. It shows how important it is for brokers to be truly whole-of-market, with a wide enough panel to find the best possible outcome for each client.

If you could wave a magic wand and change one thing about the mortgage process, what would it be?

To reduce the stress of moving home. Even working in the industry, it's still a worry when it's your home. The industry is trying to make great strides, but far too many deals take too long or collapse, causing financial and mental stress.

We can't solve everything at MBT, but we passionately believe the process can be improved by knowing what you can borrow before you look to move.

What drives you personally in this industry? What keeps you motivated?

For me, it’s simple; we’re helping people get their dream home. That’s what it all comes down to. At MBT, our role is to provide the technology and data that help brokers and lenders make that happen. Knowing that our platform helps deliver better advice and better outcomes for real people, that’s what keeps me motivated.

How do you see collaboration shaping the future of the mortgage space?

Collaboration is everything. No single business can solve all the challenges in this market alone. The future is about partnership, bringing together experts from different areas to build something genuinely better. At MBT, we’ve always been very pro-collaboration. We focus on partnering with others who are best in their field to deliver a complete, best-in-class solution for brokers and lenders.

Technology has made an enormous difference to the intermediary journey. Where do you see the biggest gains still to be made?

There’s still a lot more to come from automation. Technology can take on even more of the repetitive, manual tasks, freeing up intermediaries to focus on the client. We’ve made great progress, but there’s still huge potential to make the process feel smoother and smarter for everyone involved.

How does Iress fit into your strategy, and how do our tools and partnership help you deliver better for your customers?

Iress is a really important partner for us. We share a similar philosophy; we both believe in working collaboratively to deliver the best possible solutions for brokers. Our partnership means we can integrate affordability, criteria and product information right into the broker’s workflow, so the information they need is there when they need it. It’s a great example of how partnership and technology can combine to make a real difference in day-to-day broker life.

What does success look like for you - and for the industry - over the next five years?

For MBT, success means continuing to deliver the best research platform out there for brokers, but also helping lenders identify and serve areas of the market that are currently underserved. Around 15% of clients today don’t have a lender who’ll lend to them, and we see that as a real opportunity. By using data to show lenders where those gaps are, we can help more people get the homes they want. For the industry as a whole, success looks like a market that’s more inclusive, more efficient, and more connected.

Finally, if you could give one piece of advice to intermediaries navigating today’s market, what would it be?

Time is your most valuable resource, and it’s easy to get stuck in the day-to-day. My advice would be: take the time to look at your processes and see where you can make improvements or bring in automation. I know it’s hard to find that time upfront, but the gains down the line are huge. You’ll save time, improve consistency, and ultimately give better service to your clients.

Thank you, Tanya, for sharing your Home Truths.

At Iress, we have conversations like this every day and through industry meet-ups like our Mortgage Forum. By talking openly in this way, we can develop the right tools and technology to keep brokers and lenders ahead of the opportunities that exist in the mortgage market.

Look out for more Home Truths from our other friends and partners soon.

Would you like to be interviewed by Warren? Email him at warren.o’connell@iress.com

T+1: infrastructure under pressure

The global shift to T+1 settlement is more than a compliance milestone – it’s a litmus test for infrastructure resilience, operational agility, and data-driven decision-making.

While Australia’s transition may be years away, the time to act is now. That’s especially the case for those firms already living the T+1 reality through international trading operations, navigating compressed timelines and cross-border complexities as global markets accelerate towards faster settlement cycles.

India completed its phased rollout of T+1 in 2023. North America followed in May 2024 with the United Kingdom, the European Union and others targeting 2027.

Lessons from the US

The US transition was broadly successful, with 95 per cent of trades affirmed on day two.

But behind the headline numbers, operational cracks appeared.

Time zone compression shrank processing windows by up to 80 per cent, forcing firms into manual workarounds.

Staffing costs spiked – some by 18 per cent – as firms threw people at problems that technology should solve.

Late settlement rates rose, especially in Asia Pacific trades with the US.

So, the North American experience serves as a vital, if expensive, lesson: T+1 is fundamentally a technological imperative, demanding end-to-end straight-through processing (STP) because manual processes aren’t just inefficient – they’re expensive and risky.

Automation is the foundation of resilience. This is why platforms such as MyIress, Iress FIX Hub and Iress Data Insights are engineered to eliminate friction, reduce settlement risk and provide real-time control across the trade lifecycle.

The European warning

If the US transition was a sprint, the upcoming UK and EU shift to T+1 in October 2027 is a marathon through tricky terrain.

Europe faces a daunting task, coordinating T+1 across 27 EU jurisdictions, more than 30 central securities depositories (CSDs) and various legal and tax regimes.

Preparation budgets reflect the scale of the task. It’s estimated that a large global custodian may invest up to US$36 million to prepare for T+1, more than double the $13.3 million average spent for the North American transition.

And the stakes are higher. Under the EU’s Central Securities Depositories Regulation (CSDR), failed trades incur mandatory cash penalties. With T+1 increasing failure risk – especially for cross-border trades and non-EU ETFs holding US assets – automation isn’t optional, it’s survival.

Europe’s challenges underscore the non-negotiable requirement for high-speed, end-to-end automation.

This operational standard is what Australian firms must meet today to manage cross-border risks, and tomorrow to implement a domestic T+1 cycle.

Iress FIX Hub supports this standard through real-time monitoring, diagnostics and configurable rules that detect and manage exceptions across the trade lifecycle before they disrupt execution.

Meanwhile, Iress Data Insights will add anomaly detection, reconciliation and proactive alerts that shift firms from reactive correction to proactive control.

Australia’s strategic advantage

Australia’s timeline, with T+1 is not due until at least 12 months after the CHESS replacement that’s planned to go live in Q1 2029. This offers a rare opportunity to gain a strategic advantage.

The imperative is clear: focus now on four core areas to manage current risks and prepare for what’s around the corner:

1. Simplify operations Drive workflow efficiency through modular, interoperable architecture built on FDC3 and open APIs. MyIress and Iress FIX Hub enable faster configuration, fewer handoffs, and smoother collaboration across trading, operations, and compliance.
2. Execute a data strategy Global investors expect real-time visibility and predictive control, not just end-of-day reporting. Transparency is now a competitive edge. With Iress Data Insights and Iress FIX Hub, Iress gives brokers the ability to anticipate risk. Exception handling becomes predictive, resolving trade mismatches before they cascade. This is the level of visibility global investors already expect.
3. Solve the FX problem T+1 compresses currency settlement windows. Iress FIX Hub enables reliable, scalable connectivity across brokers, custodians, and markets – removing bottlenecks and enabling pre-funding or automated FX strategies.
4. Pressure test your systems Use global lessons to validate systems now. Our cloud-native, interoperable architecture is designed for resilience – supporting early allocation, real-time reconciliation and continuous trading.

T+1 is just the beginning

At Iress, we see T+1 not as a finish line, but a foundation. The future is T+0, 24/5 global markets and tokenised assets. These shifts will demand real-time reconciliation, modular workflows, and truly interoperable platforms.

MyIress is already built for this evolution. It’s zero-install, scalable and designed to support new asset classes. Iress FIX Hub offers global reach with five hubs and cloud-native connectivity. Iress Data Insights moves firms from reactive issue management to proactive, data-driven risk management.

The T+1 era is a reminder: resilience, not just readiness, sets firms apart. Firms that act now won’t just meet compliance – they’ll lead the next era of market infrastructure.

This article was originally published in SIAA Newsroom