AIR chief executive Stuart Wilson (pictured) answers Mortgage Solutions’ questions on the deal.
Q How will Answers in Retirement ensure that it can stand out against Key Retirement’s other brands?
We already have a hugely strong brand in the broker-to-broker/B2B market and this investment will allow us to continue our focus on this sector for our profile to be further enhanced.
Q What will Answers in Retirement be able to achieve with the extra investment that couldn’t be done before?
We will have separate functions on IT support and marketing, as well as being able to recruit more and develop staff further.
We can benefit from lead generation skills and training for our members and we can focus on stronger relationships with our provider partners.
Q Is more investment needed in the equity release market and do you see more of these types of deals taking place in the future?
Without doubt this is a reflection of growing consumer demand for broader ‘at retirement’ services.
I’m certain there will be strategic decisions taken by other firms in the coming months. Our decision was simple, as it will bring better service and products to our thousands of members and help reinforce the values we target.
Q Would you be open to a complete sale of the company?
I retain a substantial shareholding in the business.
A complete sale was not of interest as my passion to continue in this sector was a deciding factor –
I’m certainly not ready to retire.
Q Why did you choose to accept investment from Key Retirement and not another company?
Key suited because we are a very different business and therefore the fit was good.
We are entirely focused on adviser support, whereas Key also deal direct with consumers.
On top of this, their senior team – led by Simon Thompson – is committed to growing the sector and sees a strong vibrant and growing independent market.