In Retirement Services head of business development Frank McCann says equity release could soon be distributed via credit card companies, utility firms and even car dealerships.McCann believes tradit- ional distributors such as IFAs and high-street banks will increasingly come under threat from new affinity deals with providers, which could also include debt management, travel and retirement village companies. He says: “The industry needs to think about where retired people are going. Many will change their car so why not look at reputable dealerships? This already happens in Australia. Credit card companies are an obvious avenue.” Key Retirement Solutions business development director Dean Mirfin says distribution is likely to broaden but it will be a gradual change. Key is in talks with a number of firms that run retirement villages about setting up introducer arrangements. Mirfin says: “It will be interesting to see how long the changes take. It is always a concern that advice is given and providers will have to have something in place.” New equity-release specialist Stonehaven entered the market last week through a pilot with six intermediaries. Former Woolwich mortgage managing director Jayne Almond is chief executive.
‘Intermediaries handing over one of the most valuable parts of their business to a third party’
Two-Year Base Rate Tracker
A Department for Work and Pensions conference has given fresh hope to IFAs on the role of advice in the Government’s personal accounts regime. Civil servants, advisers and providers met in London last week to discuss the best ways for members of the Government’s personal accounts scheme to deal with the transition of their pension […]
Claim firm alleges that mortgage case commission was undisclosed
By Kunal Desai, Neptune India Fund
As global investors continue to scour emerging markets through the lens of reform potential, India shines bright. Indeed, we think it can sparkle even brighter. We anticipate India’s self-imposed 10-year ‘policy holiday’ to turn into one of the most pro-growth and pro-investment policy calendars seen in Asia in years. The Indian electorate has engineered a historic verdict. We now have the strongest Indian government since 1984, with the pro-market Bharatiya Janata Party (BJP) achieving an absolute majority for the first time in the party’s history.
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