The IERAA has been set up and funded exclusively by advisers fully qualified in equity release advice. It aims to promote the use of qualified and experienced advisers who are able to advise on both lifetime mortgages and home reversion schemes.
All IERAA advisers will work to an agreed code of conduct and offer a common charging structure to ensure reasonable fees. It will also create an online directory listing so that members of the public, consumer and charity groups, as well as legal professionals are able to choose an adviser in their area.
IERAA says the alliance will enable other advisers, who would rather not provide equity release advice, to source and recommend a suitable local adviser.
IERRA chairman Anthony Harris says: “This is a really exciting opportunity – my experience is that those advisers who have chosen to specialise, have a common aim and that is a real desire to make sure their clients receive excellent service and advice.
“It’s not just about products either. An independent adviser is uniquely placed to assess the suitability of equity release first for a client, then look at which product would be suitable.”