Advisers wary of equity release – but our expertise is here to help

4 September 2019

Equity release makes many advisers wary 

There are more equity release products on the market than ever before and equity release lending is at record levels, according to the Equity Release Council, yet research by LV= has found that 70% of advisers feel uncomfortable or unable to discuss equity release with their clients. Of the 206 advisers questioned for the report.

Referrals from equity release grow

But while many advisers are wary of equity release and don’t feel they have sufficient knowledge to advise on it themselves – even when they have taken the necessary exams – the number of advisers making referrals for equity release has increased nearly four times in the last two years, according to another report. Introducing the Introducers says referral agreements between other financial advisers and equity release experts have increased 285% in the last 24 months. 

It found that, of the financial advisers who are referring to equity release experts: 

45% of respondents said they prefer to refer to an equity release expert because they want specialist support in this sector for their clients, with the average introducer expecting 11% of their income to come from equity release within three to five years. 

However, the report also found that two-thirds of introducers did not routinely mention equity release to clients, and three out of five did not start a discussion about equity release even when they had identified that clients could benefit from it. 

Providing expert equity release support

Introducing the Introducers and the research by LV= show that there is widespread lack of real understanding about equity release among those in the consumer financial sector, which manifests itself in a lack of confidence in talking about the products to clients. That’s why it’s vital to find equity release experts who really know the market and the different products available, and who can help you decide if this might be a suitable financial route for you to explore. 

All our over 55 equity release experts work closely with a wide network of financial advisers, mortgage brokers and wealth managers, providing expert assistance with equity release to ensure their clients have the best advice available to them. As we only do equity release, we never poach clients; if we identify another area of financial planning outside of equity release in which we think you could benefit from some expert guidance, we will always refer back to our introducer. 

Allowing retirees to consider all their accrued assets in totality at the same time – putting property alongside their pension and other savings pots – can only be the right thing for people seeking advice,” commented Andrew Gilbert, Head of Life Products at LV=. Equity release won’t be right for everyone, but it should be considered alongside other options in making the best provision for retirement.”

A win-win-win situation 

Asking your financial adviser to find you an equity release expert to help supplement their advice to you is a win-win-win situation, with all parties benefitting. Here’s why: 

Our equity release advisers are all experts in their field. We apply our expertise to help our clients, but also to support other professionals in the financial services sector, so their clients can enjoy the best possible advice and have access to the full range of financial solutions.

Book an initial, no-obligation consultation

During the current coronavirus outbreak, we are conducting these over the phone or by video call.

Talk to an expert