Thinc said the partnership would give clients better access to specialist lifetime advice, as it had a limited number of advisers that were permitted to write equity release business.
Thinc’s advisers will also have access to Key Retirement Solutions’ Lifetime Advisory Service training. Key Retirement Solutions will run a series of workshops with the aim of having all equity release advisers using its Lifetime Advisory Service as their working platform by the end of 2007.
The service includes the full equity release examination incorporating lifetime and home reversion, an integrated factfind and suitability report, including MCOB requirements. Updated Financial Services Authority findings, a research platform which captures core product criteria, enhanced and exclusive provider terms and end-to-end case-tracking will also be provided.
Dean Mirfin, business development director at Key Retirement Solutions, said: “The partnership strengthens our relationship within the broader equity release market. This deal proves that our referral process continues to be recognised as the number one choice, with a system that is built bottom up – by advisers, for advisers.”
However, Peter Fisher, director of NHFA, said that while it was a good idea in principle for clients, added costs could be a problem. He explained: “The key is whether clients get best value. The more layers you have in a process, the more challenging it becomes to have sufficient reward for customers and mortgage intermediaries.”
