She is also the current chief executive of The Money Charity
The Equity Release Council (ERC) has appointed Michelle Highman (pictured) as new independent chair of its standards committee, which is responsible for developing the product safeguards that have helped transform the sector.
Currently the chief executive of The Money Charity, Highman was a former member of the Financial Inclusion Commission’s advisory panel. She also spent 13 years with the then Financial Services Authority, playing a lead role in the implementation of a national financial capability strategy.
Highman’s appointment followed a consultation, in which council members overwhelmingly called for the committee to retain some independence and a competitive selection process.
She will chair the 11-strong standards committee, drawn from the ERC’s membership, that has also recently been re-appointed and expanded. Its composition reflects the disciplines required to deliver good customer outcomes and includes advisers, providers, solicitors, surveyors, and technology specialists.
We've appointed a new independent chair to our standards committee. Read about Michelle Highman and how our standards boost consumer confidence in equity release, below. https://t.co/j23ouNchi5
— ER Council (@Equity_Council) April 18, 2023
“It’s an incredibly exciting and important time to join the council,” Highman said. “The organisation has already achieved a lot and has clearly put itself in a strong position to continue to deliver for members and their customers.
“Equity release can be a transformative financial product. Used appropriately, it can provide a lifeline to hard-up pensioners or enhance the lives of others and their loved ones.
“But all potential equity release customers need the right support and advice to access products that are safe and appropriate, so they can decide if it’s right for them. The standards committee plays an incredibly important role in this process and it’s a privilege to be able to play a part.”
David Burrowes, chairman at the Equity Release Council, remarked that Highman was “ideally suited to follow in a long line of experienced and accomplished experts who have overseen the development of equity release consumer standards since 1991.”
“Like those before her, Michelle is dedicated to delivering safe and sustainable financial products,” Burrowes added. “I know she will make an important contribution to the continued evolution of our consumer-focused safeguards.
“By joining the council, all members pledge to go above and beyond statutory regulation to deliver good outcomes for consumers. The standards committee sits at the heart of the council, enabling and enhancing those outcomes.”
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