York-based adviser Ruth Norman of Ardent Financial Planning explains the importance of Council membership and how it led to six leads in one month.
I have advised on equity release now since 2007 when I worked for the RBS Group. The industry was very different then, the product was seen as a ‘last resort’ in fact I was trained with the RBS Group to ‘talk the client out of it’ if possible.
Move forward to 2021 and the industry is very different. Finally, the lifetime mortgage market is seen in a positive light, as a way of financial planning, where the advertising is more attractive and the providers in the market have expanded and include some trusted and respected brands.
I work as an independent financial adviser, using cash flow modelling and advising on all aspects of financial planning and I believe that equity release is a key part of planning in certain circumstances.
We decided to join the Equity release council in 2017 as we felt it represented a trusted kitemark which showed our commitment to delivering good quality and independent financial advice.
We invited David Burrowes to a workshop in York where we are based and invited all our trusted partners in the legal world to come and listen to David talk about how Equity release has changed and why they should consider providing independent legal advice in this sector, some of the firms in the room had opted not to advise due to their misconception it was a risky area in which to work and this was often passed down to prospective clients when it was discussed.
David delivered an excellent presentation on what had changed and how the market had been ‘cleaned up’ which helped overcome some of those misconceptions.
We are very proud of our council membership and advertise the endorsement mark on our website. We have found that through the positive promotion of the Council in the media, clients now look for Council members via the Equity Release Council website. In fact, over the past month, we have had six new introductions from the site, all of which were quality leads.
Clients search in their area when looking for an adviser, which has helped place us in front of more clients. In fact, last week I had a client drive over 100 miles to come to our office as he wanted to deal face to face with an independent adviser who was a council member.
I find the council publications are very useful and the work that goes on behind the scenes to continually help change the perception of a product that has for so long been seen as something very negative is so important. I attend as many events as possible arranged by the Council and will continue to help support them going forward.
The views of contributors are not necessarily shared by the Equity Release Council.
