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IFA sets up equity-release firm aiming for referrals

Reading-based IFA Advice on Money has set up an equity-release service aiming for referrals from IFAs and mortgage consultants.

The Equity Release Centre is a whole-of-market service aimed at those who have either decided not to apply for lifetime mortgage authorisation under the FSA requirements or for those who would simply prefer not to spend the time meeting the increased compliance requirements.

Commission is split between ERC and the introducer. ERC gives an undertaking not to cross-sell but will advise on other areas where the introducer is not regulated if the introducer gives its permission.

ERC principal Keith Hargraves says: “Outsourcing enquiries to us be a more cost-effective use of time and we also guarantee to refer clients back to the original introducer for them to benefit from any further business which may arise.”

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