Advisers urge government to integrate equity release
68% of advisers would back increased Government consultation with the financial services industry aimed at integrating equity release into retirement planning, building on recent calls from regulators and MPs.
The FCA is already reviewing barriers to entry in the equity release market aimed at attracting more lenders, while the Work and Pensions Select Committee has recommended including property wealth in the Pension Wise service.
85% of advisers also said that recommendations on health and lifestyle information should be a mandatory part of the fact-finding process with clients and not just a matter of good practice.
Stuart Wilson, marketing director at more 2 life, said:
“There is a growing acceptance that property wealth is central to long-term financial planning and retirement advisers would support more Government consultation with the financial services industry.
“That should include making it easier for advisers to discuss health issues with clients. Clearly advisers believe health and lifestyle is important in providing recommendations with the vast majority believing it should be mandatory.”
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