Advise Wise has pledged to help unlock the “full potential” of the equity release market for the UK’s independent advisors by unveiling an online service providing full market access to live rates from all active equity lenders.
Leeds-based Advise Wise’s sourcing tool has taken technology developed over the past 15 years by Age Partnership and packaged it for a sector of the equity release market that is growing rapidly.
The system is sponsored from launch by Just, and supported by businesses such as Aviva and Canada Life.
Jonathan Thirkill (pictured), chief executive at Advise Wise, said: “Independent whole of market advisors are currently responsible for a large proportion of all new equity release cases in the UK, and that proportion is only going to increase as releasing equity in homes becomes common practice for the over-55s.”
“Despite this level of activity, and the huge potential for further growth, independent advisors have not had access to a single sourcing tool that provides full market access; meaning they either have to enter client details time and again to gain a full picture, or give advice that omits key funders.
“The inclusion of live medically enhanced Aviva flexible rates in Advise Wise is a significant development for the market.”
The system enables users to request and receive KFIs in a single place for the first time, has a single client CRM to store client details, and a secure online document store for each client case.
Thirkill continued: “Whilst there are existing sourcing tools available for independent whole of market advisors, i’m confident Advise Wise outperforms them both technically and in terms of ease of use and will be a major step forward for advisers currently advising in or looking to enter the market.”
Commenting on its decision to sponsor Advise Wise, Nick Brown, head of proposition management at Just, added: “I am delighted that Just is supporting the launch of Advise Wise.
“As always we are keen to support ventures which will help grow the market and give greater access to detailed information about our products.”