The scheme will promote best practice and provide a low cost option for advisers wanting continuing professional development.
The Equity Release Council will launch an adviser training scheme with the Later Life Academy in April.
The scheme will promote best practice and provide a low cost option for advisers wanting continuing professional development.
Advisers will be able to access complementary training modules on pension freedoms, estate planning and benefits and taxation.
Donna Bathgate, chief operating officer at the Equity Release Council, said: “This new initiative offers a clear channel to support best practice and increase the scope of advice to help meet extra demand.
“Planning effectively for later life means weighing up a host of issues, and our response to the FCA and Treasury’s Financial Advice Market Review suggested it would be difficult for any single adviser to become a specialist across every area.
“However, it is important to have a firm foundation of current knowledge to give or signpost clients to the most suitable advice for their circumstances.
“Combining the council’s standards and LLA’s accredited training will help businesses to adapt to changing consumer needs and the increasingly complex retirement landscape.”
Those who want to work through the development programme to become a fully graduated member of the LLA need to complete compulsory modules on pensions, guidance and long-term care.
In April and May the ERC and Later Life Academy will host three events offering a day’s training on best practice, consumer outcomes and how to develop a more robust client proposition.
The LLA training programme is accredited by the National Skills Academy for Financial Services and is open to all level 3 equity release-qualified advisers and above.
