Liza Campion, lender relationship manager at AMPD, highlighted the need for AMPD to diversify to find new revenue streams, not only for its members but also their introducing brokers, and promised further panel appointments in the coming months.

Dan Baines, sales & marketing director for Age Partnership, added: “With average commissions in excess of £700 for the introducing IFA, this referral service can provide a significant additional income stream, while ensuring that non-specialist advisers remain able to service the needs of clients who are in or approaching retirement and who may benefit from no-obligation, honest and impartial equity release advice.”