Answers in Retirement Ltd has announced the buy-back of 25% of the business which returns it fully into privately-owned hands.
The 25% had been sold seven years ago to a private investor.
Answers in Retirement is a group of companies covering a range of retirement and later life services.
The business group, which includes brands and organisations such as AIR Sourcing and Equity Release Club, plus the Later Life Academy (LLA), says the purchase completion means Answers in Retirement is now more easily able to raise funding and will embark on a range of expansion plans.
Projects ear-marked to take place during 2017 include the launch of phase two of AIR Sourcing, the sourcing system for equity release and retirement lending products and the expansion of the Later Life Academy, the commercial and training organisation for later life advisers.
It is also looking to launch what it claims to be a unique ‘consumer support’ proposition for Equity Release Club members, the distribution proposition for equity release advisers and a ‘UNITY’ rewards proposition for Equity Release Club members.
The group is also currently exploring a range of lead generation options for member firms, plus it will put in place a new telephony system and will recruit additional members of staff to support the growth in activities and membership.
“The start of any new year is a pivotal time for a business however this development is absolutely crucial for our group, and all its businesses, and sets us up to deliver a raft of upgrades and new propositions throughout the course of the next 12 months and beyond,” said Stuart Wilson, group managing director at Answers in Retirement.
“We are understandably delighted to have bought the shareholding back having worked closely with an amazingly supportive investor who has given us the significant momentum we have achieved over recent years with an increased staff and management team. This now means we are in a very strong position to seek new investment in order that we continue to grow and so that we can reach our very ambitious objectives for 2017 and beyond in the retirement market.
“It promises to be a very exciting year for the later life market and we will continue to ensure we are at the forefront of the sector offering a range of products and services for all advisers so they too have everything they need to develop their own propositions for a growing client base.”