Research by the firm found that opportunities for advisers to sell products like equity release diminishes once a client retires, with Just Retirement calling for an increased focus on those over 50 but not yet retired.
The survey of homeowners aged over-55 also found that customers were unsure of what plans were available and what protection they had against losing their home at present.
Research also found that most people did not know that equity release is regulated, that interest rates are fixed or that loan repayments will not exceed the property value.
For those set to retire in the next year 39% said their primary source of advice on equity release was a professional adviser, yet only one-in-ten could name an equity release provider without being prompted.
Stephen Lowe, group director of external affairs and customer insight at Just Retirement, commented: “The run-up to retirement is a time when people look at their finances carefully and start planning how best to use or pass on their wealth.
“Increasingly, for baby boomers who have benefited from rising house prices, that involves looking at how best to use the wealth tied up in their homes.
“People are most likely to seek information from intermediaries but cited a variety of other sources including banks, solicitors, friends and family and the Internet. But the obvious spike among those yet to retire suggests a clear opportunity for advisers to engage with this age group at an early stage.
“For many of today’s retirees, their property value will account for a significant – and for some with small pensions – the most significant proportion of their overall wealth. It is available to be used or passed on at some point so it needs to be factored into the retirement planning conversation, ideally from an early stage.”
