Eight out of ten financial advisers currently advising in the equity release space are looking to grow their business in the next 12 months, according to research by Pure Retirement and facilitated by Smart Money People.
Conducted with over 160 advisers as an exercise in better understanding their current experience in the later life lending sector, the research also saw nearly two thirds (66%) seeking to invest in marketing, with nearly four out of ten (38%) looking to invest in better partnerships, and just over one in four (26%) seeking to invest in technological innovation.
While advisers were keen to invest in growing their business, they were also quick to identify current pain points. Four in ten (40%) pointed to the current high costs, with just over a third (34%) citing lack of client understanding and three in ten (30%) looking to regulatory challenges as an ongoing source of frustration.
Speaking of the findings, Head of Distribution Scott Burman says: “It’s great to see advisers not only continue to show faith in the sector, but actively look to invest in their business. Additionally with 54% of brokers expressing that to grow their business it helps to have dedicated support representatives from lenders, and 48% saying marketing resources from lenders is much needed, it underlines the important role that lenders can have in supporting their adviser network in growing their business within the later life lending space. These statistics validate our long-term commitment to offering market-leading assistance to our registered advisers, and we look forward to continuing to do so throughout 2025 and beyond.”
