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Third of equity release referrals through IFAs

A third of all equity release referrals came from IFAs over the first quarter of this year, according to Hodge Lifetime.

The equity release provider took a quarterly customer questionnaire which found that in Q1 2009 advisers accounted for 34 per cent of all equity release introductions, while introductions generated from newspaper editorial and press advertising fell considerably.

Editorial referrals were halved over 12 months to 11 per cent and introductions as a result of newspaper advertising fell to 15 per cent, from 23 per cent. IFA referrals were up 13 per cent over the year.

The survey also found that 77 per cent of respondents taking out an equity release plan did so through a regulated adviser.

Hodge Lifetime managing director Jon King says: “The extra value IFAs bring is not just in their advice but also their product selection in response to consumer concerns.

“With a full understanding of the intricacies of equity release products on offer, IFAs in this field can ensure an additional layer of guarantees and peace of mind to older clients.

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