Equity release adviser Key has revealed a new distribution strategy, with a refreshed ‘whole of market’ (WoM) advice offering, branded ‘The Equity Release Experts’ and a new ‘Key Equity Release’ branded integrated service proposition.
Both services will be supported by a new bespoke digital advice delivery platform.
Key has developed its new customer facing brand – The Equity Release Experts – for both its employed and self-employed advisers seeking to focus in this market. The company says it is keen to position The Equity Release Experts for significant growth and has appointed Rob Brennan, formerly sales director at The Right Equity Release and Lyn Perrett, formerly operations director at The Right Equity Release) to lead its self-employed adviser division.
Existing referral relationships with Key Partnerships will continue to be supported by this WoM function.
The new integrated service proposition offers customers fee free advice and access to over 80 Key Equity Release branded products.
The Key branded products will be manufactured by More 2 Life and are designed to meet a broad range of customer needs, from low interest rates to high LTVs and come with a variety of features.
in addition, Key Group is launching a new digital advice delivery platform which will support both its Key Equity Release and WoM advice teams.
It builds on its investment in AiR Group in May 2018 and supports the group’s ambitions to increase the role of technology within the sector to improve customer experiences and advice quality.
Will Hale (pictured), CEO of Key, said: “The later life market is evolving and we are evolving with it to ensure we remain at the forefront in meeting the needs of our customers, partners and colleagues. Significant work has gone into developing this new distribution strategy which I am proud to announce today.
“We recognise the important role that WoM advice plays and are delighted that Rob Brennan and Lyn Perrett have agreed to join the team to spearhead the development of our self-employed division. We are also pleased to unveil our Key Equity Release branded proposition which recognises that, for some customers, their needs would be better served by providing them with access to a range of competitive products from a brand they trust.
“This new offering will be supported by the same high quality advice that people expect from Key, as well as an end-to-end customer support service designed to help clients navigate what can be a complex process.
“We see both of our advice options as growth areas for the business and will be seeking to recruit ambitious advisers who want to be part of a great team. We are delighted to launch these initiatives which mean that whether a customer wants WoM advice, a Key Equity Release branded plan or access to other later life lending products, they can visit us.”
Simon Thompson, group CEO of Key Group, added: “When we rebranded earlier this month, we outlined our ambitions for the Group and the market, so we are delighted to unveil these changes. We firmly believe that this shift for Key will benefit our customers, partners and the broader sector – enabling us to make further improvements to the customer proposition while helping us to continue to invest in consumer education and awareness.
“The new digital advice delivery platform is a vital part of this evolution and will help improve the overall advice experience. We remain a customer-centric organisation and are delighted to bring this type of innovation to the industry.
“Looking to the future, we believe that bold moves like this will help to break down barriers and allow us to focus on developing innovative products as well as attracting additional customers, advisers and funders to the market.”