View more on these topics

Ocean Finance makes waves with IRS equity-release deal

Ocean Finance has entered the equity-release market in a deal with product provider In Retirement Services.

Ocean, which is best known for its daytime television advertisements for debt consolid- ation, will introduce business to IRS rather than advising clients itself.

IRS, which is considering plans to launch its own series of TV ads next year, insists it has no qualms about linking up with a firm that many see as one of the leading intermediaries in the controversial secured loan market.

Ocean previously outsourced equity-release leads to a third party but did not seek out business although it will now actively market itself to reti- red people.

The deal marks IRS’s lat- est affinity partnership as it continues to exert its influence in the equity-release market. It has other major deals with IFA network Tenet and high street banking giant HSBC.

IRS head of business development Frank McCann says: “Ocean Finance is a quality, recognised direct-to-consumer brand. The recently published comments from the FSA on equity-release advice highlighted the requirement for the specialist skills required and supports our decision to offer this service to IFAs and advisers.

“IRS will not allow anyone to purchase an equity-release plan without the benefit of face to face advice and Ocean Finance were influenced by this stance.”

Ocean marketing director Stuart Johnson says: “Feed- back from our customers suggests that face-to-face advice in the equity-release market is essential.”


‘FSA has not already decided to ban commission’

FSA managing director Clive Briault has highlighted commission as one of the five priorities in the regulator’s forthcoming retail distribution review but stresses it has not concluded that commission is bad and should be banned. At a Cazalet Consulting conference in London last week on the changing face of asset management in UK life and […]

This week in Mortgages

All eyes and ears this week should have been on the Bank of England and its unsurprising decision to raise interest rates to five per cent, but events at Celtic Manor in Wales for Mortgage Intelligence’s 10th year anniversary celebrations took centre stage after an extraordinary row.

Inheritance tax when it is relevant

Neil Jones is Technical Support Manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. A trust can offer significant advantages when an individual is […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm