As Apex’s Equity Release specialist, I have been asked to join an important project by the Equity Release Council (ERC). We aim to look at how equity release is communicated not only to the public but to financial advisers, the media, age-related charities, and local government.
The Council recognise that there are still many ‘myths’ and inconsistencies in how people think about equity release. Many of these date from the days before equity release became a fully regulated product. Both products and the delivery of advice are regulated by the Financial Conduct Authority, so consumer protection is better than ever. However perceptions amongst the public and media don’t reflect the current situation, so I will be working with the ERC to overcome this.
With over 25 years experience in financial services I believe this product will become an integral part of financial planning rather than a product of last resort. I expect to be involved in this project through 2019.
We feel it is important that we remain at the forefront of developments in all areas of financial planning. We are engaging proactively with the Equity Release Council and other influential groups to ensure that this happens. Keeping our clients well informed is vital when they are making important decisions. This is especially true when using their housing wealth as part of retirement planning.
Equity Release requires specialist knowledge and skills that we need to keep up to date. I am confident that my involvement with this national project will benefit existing and new clients of Apex in Poole and across Dorset.