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Release deal for Tenet

Tenet has signed a deal with In Retirement Services to bolster its equity-release offering.

The network has begun a pilot scheme this week, with business introduced to provider IRS, to allow its advisers that do not specialise in equ- ity release to have an avenue to place business through. If successful, it could give all Tenet’s 5,500 advisers access to equity release productsThe network has a panel of equity-release providers but stresses it is only suitable for members who specialise in lifetime mortgages and home-reversion plans.

The move comes after the FSA in July urged firms to refer business if they only dabble in equity release or have no expertise in the sector.

Tenet sales and marketing director Keith Richards says: “This is for IFAs that do not want to give advice. The FSA has given a warning about those that dabble and there are advisers that come across equity-release business and want a solution and this is our offering.”

An IRS spokesman says: “We are delighted to have been appointed and hope more advisers will enter the market.”

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