Bower Retirement enhances platform in rebrand

The adviser firm, founded in 2006 as an equity release specialist, has changed its name from Bower Retirement Services and enhanced its service for the growing retirement planning market with the launch of new online tools.

The rebrand will see its platform enhanced for expansion and new business. New services include video guides for customers and potential new recruits as well as online chat services for customers and a focus on ensuring customers are offered a wide a range of solutions.

Research among its own network in the past 12 months show currently around one in 10 customers inquiring about equity release are advised not to go ahead demonstrating the importance of independent advice in a growing market.

Its own figures for September show a 36% year-on-year rise for applications.

Geoff Charles, Chief Executive at Bower Retirement, said: “Around £8.2 million of housing wealth is being withdrawn every working day as the equity release market grows and more customers look to property wealth for retirement planning.

“The market is changing however and we need to enhance how we work with customers and partners to ensure we continue to play a major role in the innovation that is driving equity release and retirement lending.

“Independent and impartial advice is central to delivering the comprehensive customer support that is needed and we plan to add more services to reflect the changes in the market.”