Typical referral customers released £100,600, up from £55,300 from customers going direct to advisers.
The value of equity release referrals increased by 71% in 2016, Key Retirement research shows.
Typical referral customers released £100,600, up from £55,300 from customers going direct to advisers.
Key attributed the high value of average cases to introducer relationships with partners serving mass affluent and high-net worth customers, such as wealth managers, accountants, solicitors and high-end estate agents.
Will Hale, director at Key Partnerships, said: “2016 was a breakthrough year for the industry as it broke through the £2bn mark providing a strong platform for further expansion in 2017.
“There are more opportunities for innovation in equity release market than ever before with the ongoing impact of interest-only mortgages coming to maturity and pension freedoms starting to have a major impact.”
Unsurprisingly Key said it will increasingly focusing on customers referred by introducers.
