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Just Retirement moves to boost equity release

Firm sets up multi-tied advisory service to advise on lifetime loans, reversion and drawdown

Equity-release provider Just Retirement is setting up a multi-tied equity-release advisory service to give the advice sector a much needed boost.

The operation, called Just Retirement Solutions, will be run as a separate entity to the firm’s equity-release and annuity product provider arm, both under the Just Retirement Holdings parent company.

JRS is still waiting for FSA authorisation, and, once approved, it is likely to have five to eight panel members, including Just Retirement.

It will advise on lifetime mortgages, home reversion and drawdown products and stresses that it will not have a high-street presence and will not market direct to customers.

Instead, it will work with introducers such as affinity groups and other financial services organisations.

Just Retirement has been at the centre of moves to increase the number of advisers in the market after calling on Aifa to form an equity release trade body for advisers in Money Marketing in February.

Aifa sister body the Association of Mortgage Intermediaries is looking to form an equ-ity release standing committee to oversee the industry.

Just Retirement technical and commercial manager Nigel Barlow says: “JRS will be a separate company within the group and it will also sell JR products. The aim is that the panel will have between five to eight members.”

Key Retirement Solutions business development director Dean Mirfin says the move can only help an industry that has been crying out for more advisers.

He says: “Anything that helps grow the market has to be a good thing. Brokers will also feel comfortable with the scheme as Just Retirement will not target existing brokers it already has relationships with, as there may have been concerns about that.”

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