This follows on from the two per cent year-on-year growth in Q2, which while representing modest gains compared to the double-digit year-on-year increases seen during Q1, nonetheless represents ongoing growth in the face of continued political uncertainty which has impacted the wider financial services sector as a whole.
And the first quarter of 2019 was the busiest start to a year on record, according to the Equity Release Council.
But those levels of ongoing growth are dependent on customers receiving the necessary advice that best suits their needs.
In order to continue giving accurate information to their customer base, advisers undoubtedly need the resources, support and materials to both gain a full understanding of the current state of the market and to allow them to best reach their customers.
Making a start
A natural starting point is The Adviser Guide To Equity Release, a one-stop information tool for those entering the market, jointly developed between ourselves and the Equity Release Council.
The guide has helped those new to the market since its creation in 2016, and boasted 2,500 downloads in 2018 showing its continued usefulness. With the market having developed considerably since then, a planned refresh is scheduled to take place in 2020.
But where next afterwards? Many lenders and publications hold roadshow events and webinars, both of which offer an effective way to gain insight into current market trends as well as key networking opportunities.
At Pure, we’ve also taken the extra step of developing our own marketing toolkit to provide cost-effective materials for advisers wanting to reach prospective clients, providing a library of offline and traditional marketing collateral such as brochures, banners and flyers.
This is in addition to last year’s digital element which combines guiding documents with practical assistance solutions in an increasingly digital world, as part of our wider commitment to helping to grow the market by supporting those within it.
We’ve developed some further recent additions including white label presentations for use with customers and introducers, and quarterly news summaries (augmented by supporting video content) to provide advisers with an overview of the key market and demographic trends which might influence how they operate going forward.
We’re not stopping there either, with a trial edition of a new marketing workshop having taken place this year ahead of regular editions planned for 2020, and a newly-launched partnership with My Care Consultant offering advisers cost-effective access to information regarding funding long-term care through its Care Box platform.
Satellite bodies and industries such as My Care Consultant and the Mature Marketing Association also provide a wealth of information and resources which, while not directly affiliated with later life lending, nonetheless orbit in areas which allow those who interact with them a greater understanding of our core audience and their ways of thinking.
As the market continues to grow there is greater importance in the role that advisers can play in the process, and by extension in the levels of support and resources that they have access to in order to best serve their customers.
As a sector we have a responsibility to provide that for the benefit of both advisers and customers, and as a lender it is something we are committed to in order to help the market maintain its current upward trajectory.