Equity Release

Bowerteam

Advice firm pulls out of Bower Retirement integration deal

A deal to integrate independent financial adviser Sixty Plus into Bower Retirement Services has fallen through, just under a month after it was first announced. Bower revealed plans to recruit Sixty Plus’ seven staff in mid-March, with managing director David Wright joining to serve as an adviser. However, Bower has now confirmed that the deal […]

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Age Partnership agrees equity release referral deal with Iress

Retirement specialist Age Partnership has linked with software firm Iress to provide a new referral service for equity release. Using Iress’ The Exchange portal, the service is targeted at advisers and brokers not involved in equity release, but who still wish to service their clients interests in the sector. Age Partnership will offer advice to […]

Bowerteam

Bower Retirement Services acquires equity release adviser

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 […]

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Key Retirement Solutions MD exits in post-Budget restructure

Key Retirement Solutions managing director Paul Wilson has left Key Group after 17 years as part of a post-Budget restructure. The private equity backed firm has launched two new divisions in a bid to capitalise on the Budget pension reforms that come into effect in April 2015. Richard Overson will be managing director of the […]

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ABI and Govt sign ‘statement of intent’ to boost LTC market

The Association of British Insurers and the Government have signed a joint “statement of intent” to help people access regulated advice and a wider choice of financial products. The Care Bill, which is currently being debated in the House of Lords, sets out proposals to cap the overall cost of care at £72,000 from April […]

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Just Retirement sets IPO price at over £1bn

Just Retirement has announced details of an initial public offering that values the firm at over £1bn. The enhanced annuity and equity release specialist confirmed plans to list on the London Stock Exchange in October this year. The offer price has now been set at 225 pence per share, valuing the business at £1.125bn. Just […]

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Providers warn MMR will hit equity release market

Equity release providers have warned the sector will be hit by rules under the Mortgage Market Review requiring firms to assess affordability.  Under the MMR, due to be implemented in April, lenders will have full responsibility for assessing affordability, including verifying income for all applicants. Equity release providers say the affordability rules will apply to […]