Just Retirement announces new equity release advice service

Just Retirement, the specialist retirement provider, today announced that it plans to launch a new multi-tied advisory service.

Just Retirement Solutions, once approved by the FSA, will offer advice to people in retirement looking to release equity from their property. The company will advise on lifetime mortgages and home reversion plans to provide lump sums, drawdown or income dependent on client needs.

The new company forms part of Just Retirement Group’s commitment to expanding the advice available to consumers in this difficult area. Other aspects include initiatives from Just Retirement Ltd to support IFAs obtain necessary qualifications such as the CeLM from the IFS and business support for IFAs wishing to offer a comprehensive advice service.

Just Retirement Solutions will not have a high street presence and will not market direct to customers. It will work with a select number of introducers such as affinity groups and other financial services organisations to deal with enquiries arising from members and customers. Clients will be offered full advice based on their personal circumstances and will have a choice of dealing either face-to-face with an adviser or by telephone.

Mike Fuller, Chief Executive of Just Retirement said: “We are very excited about the potential for equity release but remain concerned that the main brake on progress is the limited availability of advice in the market. I am very keen to help develop awareness of the benefits of equity release and ease of access for the public. It is therefore imperative that we continue to help IFAs develop the ability to advise on equity release alongside the launch of this new venture.”

David Cooper, Group Marketing Director, confirmed that the provider will be unveiling a range of initiatives to support the expansion of independent advice in the equity release sector. “Our training initiatives have been very well received and have so far helped almost 1,500 IFAs to study for a suitable qualification and we are keen to extend this opportunity. We will also be announcing further support for IFAs over the coming months. We are fully committed to developing quality advice in this market and will be working closely with everyone involved to ensure maximum benefit for those in retirement.”