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Age Partnership unveils shadow service

Mortgage Introducer

July 20, 2015

The service was trialled with Age Partnership’s referral partners, but the retirement specialists have now opened the no-charge service to anyone interested.

Simon Chalk, equity release expert at Age Partnership, said: “In the spring of this year, I presented on equity release to over 500 mortgage advisers at a series of roadshow events for the Society of Mortgage Professionals; the idea being to encourage them to start including equity release in their services to clients.

“The response was hugely enthusiastic but over lunch the same questions repeatedly cropped up: what should the fact-find contain? How do we research? What goes into the suitability report?

“This unique new service will answer those questions and help prepare the mortgage adviser for including equity release in their armoury. By shadowing one of our field-based advisers, they will see for themselves that if conducted properly, there is nothing to fear from getting involved in equity release.”

He added: “Everyone involved in equity release wants the same thing: serious market growth. For that to truly happen, it is critical that the sector attracts new business-writers and doesn’t simply look to encourage referrals alone.

“In bringing this exciting initiative to the market, Age Partnership is stepping up to its responsibility as a market leader and extending a hand of friendship to aspiring advisers.”

As part of the process advisers can shadow preparation work, meetings to see fact finds and attend any follow up meetings. They can choose how much of the service they use.

Adam Carnall, head of partnerships at Age Partnership, said: “We see this as a win-win situation for everyone involved.

“If an adviser takes advantage of this service and decides to offer equity release advice in future, we will have given them a helping hand in becoming the kind of well trained and experienced adviser that the industry needs.

“With more money coming into equity release, we need more qualified and practicing advisers so that equity release becomes an increasingly mainstream financial product.

“If they decide that offering equity release advice is not for them, they get to see our advice first hand which we will think will give them the confidence to refer business to us in future.”


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