CRS is linked with SYH Charterhouse, an existing equity-release brokerage which is owned by CRS director Michael Holt. Pritchard, who was director of packaging at edeus, is managing director of CRS with a 25 per cent stake in the firm, while former edeus chief executive Michael Bolton will run the marketing and provider relations side and has a 15 per cent stake, with Holt holding the remaining 60 per cent.
Pritchard, who was managing director of key partnerships at Key Retirement Solutions after leaving edeus, says the new company will “offer all things to all people” within the equity-release sector. He says: “Think of CRS as a packager that offers back-end services and marketing tools as well as network-style compliance and sourcing. We also provide lead-generation to the equity-release market as well as an equity-release club.”
CRS soft-launched last week and a full launch is planned for the middle of September. Pritchard says the company has already begun writing business and has already negotiated deals with providers for its club.
He believes the equity-release sector has the potential to increase fivefold, with the right education to IFAs and brokers. He says: “We want to aggregate the entire market and get it educated. We want to show advisers how to aggregate their client bank and make them understand the products.”