New equity release trade body is launched
Share
Four equity release specialists have joined forces to form a new trade body called The Society of Equity Release Advisers.
Sera has been founded by Mortgage Portfolio director Simon Chalk, Bower Retirement Service managing director Geoff Charles, Parker Kelly Financial Services consultant Ian Howarth and Charles Cameron & Associates IFA and mortgage specialist Roger Marvin.
The trade body has been formed to represent the interests of smaller independent equity release practitioners. Its aim is to ensure the advancement of equity release as a retirement and estate planning tool.
Key components of its work will involve becoming the partner to other professional firms of IFAs and solicitors for referrals, working with product providers to develop new products and providing a forum for members.
Simon Chalk will be the first chairman of the trade body.
Chalk says: “With 74 per cent of plans now arranged via intermediaries, the time is right for a new professional body to set the standards for the times ahead. Product providers and solicitors have been well represented by their respective trade bodies, Ship and Ersa, but never before has there been a trade body like this to look after the interests of those people dispensing advice; arguably the most crucial part of the equity release process.”
Ship director general Andrea Rozario says: “Any organisation that can help to bring confidence and improve standards is a welcome addition to the equity release industry. The opportunity for advisers to share experiences and offer support to one another can only be of benefit for the customer and at the same time help to improve the ability of the adviser.”
If you enjoyed this article, sign up here to receive daily email updates from Money Marketing and Follow @_moneymarketing
Readers' comments (3)
Jane Finnerty | 30 Nov 2009 1:09 pm
Consumer confidence and advice standards are what counts so this is good for those advisers that are purely Equity Release specialists
Unsuitable or offensive? Report this comment
Tony Slimmings | 30 Nov 2009 1:11 pm
Great idea, just hope ER continues to exist as a product going forward
Unsuitable or offensive? Report this comment
Keith Steel | 30 Nov 2009 4:07 pm
The last time I checked, close to half of all ER business was written by members of an existing trade body, SAFER. Then we saw the launch of IERAA, and now there's SERA. What does this new group add exactly? There will be more intermediary trade bodies than there are providers at this rate.
Unsuitable or offensive? Report this comment