Equity release specialist Key Retirement Solutions has acquired Surrey-based annuity broking service Annuity People.
Annuity People carries out research and administration for advisers, occupation scheme trustees and benefit consultants.
It was previously owned by Honister Capital, which entered into administration in July. At that point, Annuity People’s clients were referred to Key Retirement Solutions for advice.
Key Retirement Solutions group director Dean Mirfin (pictured) says: “The purchase of Annuity People expands our referral proposition which we have operated for more than 10 years for equity release.”
Annuity People managing director Malcolm Thomas says: “This next step in our growth will provide not only for a step change in capacity but also enable us in a position to pay referral partners up to 1.25 per cent of the fund value for each completed case.”