Bower Retirement Services has completed a deal to acquire equity release adviser Sixty Plus.
Sixty Plus advisers and founder David Wright will move across to Bower, adding a total of seven staff to the firm. Bower has amalgamated the advice firm and says no money will change hands as part of the arrangement.
Wright launched the business in 2006, and has worked as an adviser for customers throughout its existence.
The acquisition means the total number of advisers working for Bower has now increased by 40 per cent over the last twelve months, and it comes just over two weeks after the firm claimed the total number of equity release advisers in the market needs to double to 1,600 by 2020.
Bower chief executive Geoff Charles says: “Bower is in the middle of a period of sustained growth, and this deal will add another layer of expertise – and added capacity – to our business. The amalgamation with Sixty Plus will allow us to forge forwards with expanding our offering to meet the growing needs of our customers.”