EXCLUSIVE: HLPartnership revamps later life proposition with ‘club within a network’ model

Ryan Bembridge

May 4, 2018

HLPartnership has revamped its later life proposition by creating what it labelled a ‘club within a network’.

The network is encouraging members to get clued up about later life lending with training, while it has joined the Equity Release Council – meaning its member firms can do the same.

HLP currently has 12 active firms in its ‘club’, five of which are members of the Equity Release Council.

The aim is to increase both the number of members offering later life advice and the number of Appointed Representatives who will refer business internally by using a directory on HLP’s website.

Gavin Earnshaw, compliance director at HLPartnership, said: “We see this as a club within a network and we’re passionate about helping members getting competency in this area.

“We’ve created a hub where all the information is available and you can gain access to all the information that you need.

“We want to be known as supporting later life lending for those looking to select a network.”

HLP has launched a ‘later life lending hub’ with a range of information to get potential advisers clued up on the subject. This includes a ‘jargon buster’ for advisers who are having difficulty with the terminology.

It is encouraging members to join the Later Life Academy with a discounted fee, so ARs interested in later life lending can gain the necessary qualifications.

HLP has partnered with the Equity Release Club so qualified members can advise on products through the club, while members can use version 3 of the sourcing system, AIRsourcing, for free.

HLP has also pledged to help firms with their marketing.

Earnshaw added: “Any broker can hear the market is growing and say they want a bit of that but we want them to be committed to spending time with the customer.

“Retirement is no longer a one-sized fits all. Retirement is in stages.

“You’ve got people not retiring until 75 and finishing work early at 55 – later life lending is evolving because customer needs are changing.”

HLPartnership currently has 250 member firms within the network.

London event

HLPartnership held an event at London’s Citadines hotel in Holborn yesterday, inviting a number of ARs who either provide later life advice or are interested in getting involved.

There were speeches from representatives from the Equity Release Council, Legal & General Home Finance, Hodge Lifetime, Equity Release Club (incorporating AIRsourcing and the Later Life Academy), Aviva and Retirement Advantage.

Neil Hoare, commercial director of HLPartnership, started by noting that this is a growing if risky market – as later life customers can be quite vulnerable.

Then David Burrowes and Donna Bathgate, chairman and chief operating officer of the Equity Release Council respectively, spoke about its history and expanding membership – its member count has grown from 20 in 2012 to 229 today.

Bathgate noted that equity release is evolving under the banner of later life advice and admitted that those within the council are doing a lot of navel-gazing to ensure it remains relevant.

Gavin Earnshaw told ARs that he only wants advisers who are qualified, competent and committed.

And he stressed that he fully expects all members to work within Equity Release Council rules.

HLPartnership plans to hold more workshops in the coming months as it looks to earn a reputation as a network which significantly focuses on later life lending.

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