It is the adviser that drives the market, instigating engagement with the customer, and it’s crucial that more advisers enter into the arena, providing quality advice to customers in choosing the solution that best meets their needs.
In light of this challenge, the Equity Release Council has recently launched The Adviser Guide to Equity Release as part of an initiative for adviser engagement. The guide is aimed specifically at advisers new to the market or considering entry, and offers a step-by-step guide to the industry and the end-to-end advice process. It includes an introduction to the market, guidance on marketing approach, as well as a toolkit of invaluable resources which is available exclusively to advisers who take on council membership.
The need for increased adviser engagement was a key discussion point at this year’s Great Retirement Money Debate, with Pure Retirement leading the debate on Growing distribution within equity release and the challenges we need to address. Delegates from across the UK were involved in the discussion on how best to tackle the problem, for which the Adviser Guide to Equity Release is just a starting point.
Nigel Waterson, chairman of the Equity Release Council, says: “Equity release is receiving increased recognition from consumers, regulators and politicians as the realisation spreads that housing wealth can play a greater role in people’s financial planning for later life. It is our hope that the ‘Adviser Guide to Equity Release’ will give budding advisers who have taken note of the changing landscape the confidence to build up their knowledge and understanding of equity release, so they can help more people access professional financial advice in this area. We are grateful to Pure Retirement as this guide would not have been possible without its commitment and support.”
Paul Carter, CEO of Pure Retirement, adds: “Many of the major distributors are bringing in new advisers and training them to be the quality equity release advisers of the future and this is certainly the way forward. IFAs are well equipped to move into the equity release market, with an existing understanding of retirement planning and means-tested benefits that enables them to quickly adapt. Many of them will already have mortgage qualifications, making it a simple task to bring them into the market with the appropriate support to ease the transition. We hope that the Adviser Guide to Equity Release will be the first step in providing this support and in developing a greater network of advisers that the industry so desperately needs.”
