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Equity release firm aims to double adviser numbers

by: Professional Adviser
  • 27/08/2014
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Equity release firm aims to double adviser numbers
Equity release specialist Bower Retirement Services has set out plans to double its adviser force following an upturn in business volumes.

The Essex-based company said it is aiming to grow adviser numbers to about 50 from its existing base of 24 over the next 12 months.

It said customer enquiries for equity release advice had risen by 25% year on year, prompting its expansion plans.

Recent figures suggest the growth in equity release is continuing.

According to Key Retirement Solutions’ latest Equity Release Market Monitor, retired homeowners in the UK cashed in more than £641m in property wealth during the first half of 2014. The average loan taken increased by 17% to nearly £65,000, the adviser said.

Bower Retirement Services chief executive Geoff Charles said: “We are offering dedicated advisers the chance to join a fast-growing ethical adviser service with an excellent reputation.

“Our particular brand of patient, empathetic customer advice is proving popular with customers – leading to unprecedented levels of applications. As a result, we are looking to increase our team of specialist advisers, enabling us to help even more homeowners to access equity safely, helping to improve their quality of life.”

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