The number of topics has increased from three to six and includes new content.
The London Institute of Banking & Finance (LIBF) has made changes to its Certificate in Regulated Equity Release (CeRER) qualification.
The number of topics has increased from three to six, with new content including broader and more detailed coverage of lifetime mortgages.
Key improvements have also been made in the text in relation to vulnerable customers, powers of attorney and complaint handling.
Mark Heaton, director of corporate and professional learning at the LIBF, said: “Equity release products are changing rapidly, and the market continues to go from strength to strength.
“As a result, we’ve been talking to the sector to make sure that our CeRER remains relevant and up to date.
“We’ve made fundamental changes to the content, study text and course materials to reflect industry priorities and consumer needs.
“This updated certificate provides advisers with a solid grounding in everything they need to know about the market, products and regulations to enable them to give their customers the best advice possible – with practical examples that really help bring this to life.”
A digitally enhanced course site has been developed which includes videos, quizzes and animations.
New course content includes recorded interviews with members of the Equity Release Council and senior figures from within the equity release market.
Furthermore, there are more practical examples and case studies that advisers can use in their day-to-day role.
Donna Bathgate, chief operating officer at The Equity Release Council, added: “Today’s retirement landscape has evolved significantly with consumers facing a wide range of products and services to meet different and complex needs.
“We therefore welcome the news that LIBF is refreshing the certificate to ensure it remains fit for purpose.
“The update will ensure that the learning materials are reflective of today’s equity release market; are case study driven and interactive.
“In doing so, LIBF has established a platform to best equip advisers in the broader later life lending sector, one that will encourage a joined-up approach to later life financial planning that considers all wealth and assets.
“We look forward to continuing to work with LIBF and others in an effort to maintain high levels of competence and good consumer outcomes in this market.
“Ultimately this is a great step forward.”
Students studying the current version of the qualification can sit the exam in its current format until 5 January 2020 with the new exam available from the 6th.
