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Michael Bolton back with equity release start-up

Ex-edeus duo Michael Bolton and Terry Pritchard have set up an equity-release support services firm, Charterhouse Retirement Solutions.

CRS is linked with SYH Charterhouse, an existing equity-release brokerage which is owned by CRS director Michael Holt. Pritchard, who was director of packaging at edeus, is managing director of CRS with a 25 per cent stake in the firm, while former edeus chief executive Michael Bolton will run the marketing and provider relations side of the business and has a 15 per cent stake.

Pritchard, who was managing director of key partnerships at Key Retirement Solutions after leaving edeus, says the new company will “offer all things to all people” within the equity-release sector.

He says: “Think of CRS as a packager that offers back-end services and marketing tools as well as network-style compliance and sourcing. We also provide lead-generation to the equity-release market as well as an equity- release club.”

CRS soft-launched last week and a full launch is planned for the middle of September.

Prit­chard says that the company has already begun writing business and has already negotiated deals with product pro­viders for its club.

He believes the equity-release sector has the potential to inc­rease fivefold, with the right education to IFAs and brokers. He says: “We want to aggregate the entire market and get it educated. We want to show advisers how to aggregate their client bank and make them understand the products.”


The line of Succession

Former Thinc chief executive Simon Chamberlain says the model of his new consolidation vehicle shows advisers do not have to concentrate on the very wealthy to succeed under the FSA’s retail distribution review.


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