It aims to attract advisers active in the equity release market and those who want to enter the sector.
Equity Advice allows brokers to receive total independence, have all their administration done centrally, enhanced procuration fees, and have access to branding and promotion, free software, marketing, training and ongoing support.
The first training courses will start in late October and will cost £250 for two days training, after which a percentage will be taken on the amount of business done. For those with no previous experience there is a minimal requirement to complete on average one and a half cases per month.
Equity Advice also provides personal indemnity (PI) cover and Training and Competence (T&C).
Advisers will be put through an induction course that will determine their current skill level, after which they will receive a personal development programme which will lay out future direction and training needs.
Stuart Wilson, Equity Advice’s, managing director: said: “The support and training is the cornerstone to this. Advisers will be supported through an individual business growth strategy on an ongoing basis. This market needs a ‘quality mark’ and we intend to set it as high as we can, and continue to move forward.”
The new proposition will be fully independent as it was felt that at this time independence would reflect the demands of delivering quality and choice to the clients.
Claire Baker, a solicitor at Rickerbys Solicitors, said: “It is important that clients have received expert advice from an independent adviser who knows the market and has the support behind them to give advice without fear of being non-compliant
.”
