News
Key Retirement Solutions Launches Lifetime Advisory Services
A Ground Breaking Equity Release Training and Support Initiative
Key Retirement Solutions (KRS), the leading specialist IFA for the equity release market, is delighted to announce the launch of Lifetime Advisory Services - a ground breaking initiative aimed at transforming the quality of equity release advice in the UK. Lifetime Advisory Services (LAS) will enable IFAs to deliver high quality equity release advice from documentation through to product access by providing training and support services.
Background:
Clive Briault, Managing Director of Retail Markets at the Financial Services Authority, announced on 19 July 2006 – There is no place in this market for firms that do not develop the necessary skills and do not implement appropriate systems to ensure that they give suitable advice. We expect firms to commit to delivering quality advice or to refer the business to firms that have done so."
Key Retirement Solutions, already offer a referral service, Key Partnerships, which has seen a considerable increase in referrals into 2006. However, Key has long since shared the view expressed by the FSA that those who are advising in the market and who want to be committed to it must have the tools to fulfil the demands this market places on them.
Lifetime Advisory Services (LAS):
Key Retirement Solutions, supported by a number of major providers in the equity release market (Prudential, Just Retirement, Bridgewater, GE Life and Mortgage Express) has launched a new company - Lifetime Advisory Services - to help those intermediaries who wish to provide high quality advice on equity release. The backing of the providers ensures considerable support for intermediaries who subscribe to the service.
The new service, will provide the following:
- Intensive training including the Lifetime examination (if not already held)
- Integrated factfind and suitability report which encapsulates the MCOB requirements and FSA updated findings
- Research platform which captures core product criteria and, unlike other platforms, caters for exclusive/unique deals
- Enhanced/Exclusive provider terms
- Full end to end case tracking
Dean Mirfin, Business Development Director of Lifetime Advisory Services, comments:
“Key Retirement Solutions has been aware for some considerable time of the concerns both of the FSA, product providers and practitioners regarding the quality of advice in the equity release sector. In addition, we have been approached in the past by leading intermediaries who have requested help from ourselves and, in particular, to access to our bespoke systems.
“We have acted on these requests, and those of the market as a whole, to provide Lifetime Advisory Services. We firmly believe that by sharing our experience and advice tools through this new venture, intermediaries will obtain the training and support that that they - and the regulator - are calling for and will be able to truly ‘treat their customers’ fairly.
“We have seen considerable interest already in the service well in advance of the launch. The first company to take up the service is Chase De Vere Mortgage Management and we will be announcing further subscribers in the run up to the first training courses which are scheduled for September”.
Chris Cummings, Director General of AMI and AIFA on the new service comments, "Having repeatedly listened to requests from intermediaries committed to the equity release market for help in the advice process, Key Retirement’s new service is a welcomed and timely one. It is good to see that rather than covert their expertise in the market they have elected to share it. I know that this will be widely welcomed by the industry"
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Intermediaries who want to find out more about Lifetime Advisory Services can visit www.lifetimeadvice.co.uk ; email info@lifetimeadvice.co.uk, or call the Lifetime Advisory Services helpline on 0845 12 444 12
For more information, please contact:
Dean Mirfin (Business Development Director)
Key Retirement Solutions
07879 678737
About Key Retirement Solutions
Key Retirement Solutions is the UK’s leading independent equity release specialist. It currently conducts 31% of all SHIP (Safe Home Income Plans) intermediary equity release business in the UK.
Key Retirement Solutions (KRS) is an independently managed company following the management buy-out from Chesnara, formerly part of Countrywide Assured Group plc, in 1st July 2004.
KRS is also a leading member of SHIP, the equity release industry body, and has campaigned rigorously and effectively with SHIP for regulation across the equity release sector. This campaign was rewarded by the Governments confirmation that they will regulate home reversion plans, which will bring them in line with lifetime mortgage regulation.
Key’s commitment to excellent service has been recognised by the financial services industry though a series of prestigious awards:
- Financial Adviser Equity Release IFA/Whole of Market Adviser of the Year 2006
- Financial Adviser Equity Release IFA (Firm) of the Year in 2004 and 2005
- Mortgage Introducer - Best Equity Release Mortgage Broker in 2005 and 2006
- Mortgage Strategy - Best Mortgage Broker, Specialist Lending (2004) and Best Equity Release Mortgage Broker (2005)
- Mortgage Solutions - Best Financial Adviser (Home Reversion) and Best Financial Adviser (Lifetime Mortgages) in 2005
- What Mortgage - Best Equity Release Mortgage Broker in 2006.
