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Exchange adds equity release

The Exchange is launching the first equity-release trading platform for the IFA market through its ExWeb portal.

The service will give access to a full range of equity-release products to the portal&#39s 18,500 users.

The Exchange is consulting with a number of providers which will participate in the platform.

The move follows research showing that most IFAs are considering selling equity-release products although the majority have not done so in the last 12 months.

The Exchange surveyed 500 IFAs to identify current attitudes to equity release, with 84 per cent saying they will now consider offering advice in this area.

The platform will allow advisers to identify the product most suitable for their clients based on personal data, property details and financial criteria. The results shown will include details of the provider&#39s status with Safe Home Income Plans.

The Exchange chief operating officer David Childs says: “This is an exciting development for The Exchange. The growth in the equity-release market has been phenomenal and our research shows a strong demand from the intermediary sector for an easy-to-use service to support their sales process.”

Trigold joint managing director Martin Collyer says: “Control of the sales process and compliance are two areas of major concern in this area and I think within this context sourcing systems are going to become more important.”

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