Key Partnerships has revealed that registrations for its equity referral service have increased to over 6,000 advisers.
Just over 500 advisers have registered with Key Partnerships in the past three months in response to equity release lending reaching an all-time high of £710 million in the first half of 2015.
In addition, the number of advisers registered with Key Partnerships has grown by nearly 13% in the past three months.
Key Partnerships believes all advisers should be discussing equity release opportunities with their over 55 customers. However, it argues that many advisers will not want to specialise in this market and, rather than ‘dabbling’, putting a referral relationship in place with a trusted partner can offer significant benefits from both a risk and commercial perspective.
Will Hale, director at Key Partnerships, said: “Not all advisers want to specialise in equity release but are aware that offering advice can mean the risk of significant customer detriment if the advice is not appropriate.
“Advisers can refer their clients to us and ensure they will receive face-to-face advice from the UK’s leading equity release broker which takes all of the regulatory and compliance worries away, while helping maintain a valuable client relationship.
“Our whole-of-market expertise helps ensure optimal outcomes for customers, delivers attractive referral fees for advisers and provides protection from compliance and regulatory risk.”