Bower expands equity release referral service

Advisers and introducers using the growing Partnerships arm will benefit from training and marketing services as well as full compliance support from the independent whole-of-market service.

The referral service has been enhanced to be as simple as possible for introducers who can have as little – or as much - involvement in the application process as they want.

Bower is investing further into the referral service after being appointed as one of four national equity release specialists on the Legal & General Mortgage Club panel, highlighting the strong growth in the market which recorded record sales of £1.16 billion in the nine months to September.

Bower has also appointed Clara Curtis as National Account Manager at Bower Partnerships. Clara has more than 14 years’ experience across a range of major financial services groups including equity release specialists Hodge Lifetime as well as Sun Life Financial, Legal & General and Barclays.

Geoff Charles, Chief Executive Officer at Bower Retirement Services, said:

“Investing further in Bower Partnerships was the logical next step as we are receiving referrals from a range of introducers who wanted to offer specialist advice to clients but did not have the in-house expertise or experience.

“The growth in the equity release market with over-55s releasing more than £5 million a day highlights the demand from clients and the need for introducers to provide the best possible advice while ensuring they do not run the risk and costs of compliance issues.

“Being appointed to the L&G panel and the appointment of a National Account Manager underline our commitment to growing the business to the benefit of business partners and their clients.”