Eight in 10 (80%) financial advisers currently advising in the equity release space are looking to grow their business in the next 12 months, according to research by Pure Retirement, facilitated by Smart Money People.
Conducted with more than 160 advisers as an exercise in better understanding their current experience in the later life lending sector, the research found that 66% hoped to invest in marketing, with 38% hoping to invest in better partnerships.
Just over one in four (26%) said they are looking to invest in technological innovation.
While advisers were keen to invest in growing their business, they were also quick to identify current pain points.
Four in 10 (40%) pointed to the current high costs, and just over a third (34%) cited lack of client understanding.
Three in 10 (30%) are also looking to regulatory challenges as an ongoing source of frustration.
Scott Burman, head of distribution at Pure Retirement, said: “It’s great to see advisers not only continue to show faith in the sector, but actively look to invest in their business.
“Additionally with 54% of brokers expressing that to grow their business it helps to have dedicated support representatives from lenders, and 48% saying marketing resources from lenders is much needed, it underlines the important role that lenders can have in supporting their adviser network in growing their business within the later life lending space.
“These statistics validate our long-term commitment to offering market-leading assistance to our registered advisers, and we look forward to continuing to do so throughout 2025 and beyond.”
