Fluent for Advisers is urging its introducers to consider building relationships with IFAs and retirement advice specialists to provide a referral service for their customers who could benefit from later life lending as a part of the retirement or post retirement planning.
Recent reports show that referrals for specialist help are growing rapidly, with equity release referrals up 285% in the past two years.
Jeff Davidson (pictured), Fluent for Advisers’ head of intermediaries, believes that mortgage brokers looking to open up potential new business channels should look at the opportunity to provide later life lending support to IFAs and other retirement specialists.
He said: “Later life lending is definitely the sector which advisers should be targeting, not only for themselves, but also because it offers scope to provide a service for retirement planners and don’t forget Fluent has the expertise to help advisers develop their later life lending business.
“Later life lending has built a deserved reputation as a means of releasing capital to boost retirement income and it can play an important role as part of retirement planning.”