Key advisers operating under the Equity Release Experts brand can recommend products from 11 of the 13 lenders on the market. Nationwide and Responsible Lending are not included in the proposition.
Key Equity Release is the firm’s tied advice brand. Under this banner, advisers can recommend products provided by More 2 Life, part of the Key Group.
If a tied adviser cannot find a suitable deal for a borrower, they will be referred to the Equity Release Expert division.
Both services will be supported by a digital advice platform.
The objective of the platform is to make the advice process smoother, quicker and more intuitive, the firm said.
The platform consists of a fact find, integrated sourcing tool and suitability form.
Key has hired two directors from advice firm The Right Equity Release to grow the Equity Release Experts brand.
Former sales director Rob Brennan and former operations director Lyn Perrett have been appointed to lead Key’s self-employed adviser division.
Existing referral relationships with Key Partnerships will continue to be supported by the independent advice brand.
Key is recruiting advisers for both teams.
Simon Thompson (pictured), group CEO of Key Group, said: “Looking to the future, we believe that bold moves like this will help to break down barriers and allow us to focus on developing innovative products as well as attracting additional customers, advisers and funders to the market.”
Key Group completed its rebrand from Key Retirement Group in October.