Equity Release Partnership Programme The growth sector for the next decade

Transcription

1 Equity Release Partnership Programme The growth sector for the next decade Units 11-21, 4A Mills Bakery, Royal William Yard, Plymouth, PL1 3GE

2 A Foreword From Responsible Equity Release Dear Responsible Introducer, Welcome to the Responsible Equity Release Partnership Programme. Here we will show you how you and your firm can get involved in one of the fastest growing financial service products safely, easily, and profitably. We are committed to growing this sector through building partnerships with like-minded organisations. Our role in the partnership is to help you to recognise an customer, engage with them and present high quality information that helps them make informed decisions. We hope you find this guide useful and recommend that you also request our Engagement Pack. Yours faithfully, Steven Wilkie Managing Director Responsible Equity Release

3 Who Are Responsible Equity Release? We are a nationwide firm of specialists who provide regulated advice to those looking to raise tax-free capital from their property. We put the customer at the heart of our proposition and the cornerstone of this is providing clear-cut, easy to understand, face-to-face advice in the comfort of the client s home, with family attendance encouraged. We have director level relationships with all of the providers, which gives us enhanced terms, interest rates, deals, and commission to pass on to you and your customers. We only advise on and keep permissions for so you can be sure there will be no cross-selling. All the advice we provide to clients goes through a double sign-off process and carries no initial cost or obligation to proceed, so your clients receive a quality service they can trust.

4 A Brief Overview of Equity Release Modern plans are far removed from those of the past. Now, Lifetime Mortgages provide a safe and flexible way to access property equity. Eligibility: Youngest homeowner is aged 55 or over. Must live in the home the plan is linked to. Minimum release of 10,000. Certain property types not eligible. Features: Retain full ownership of the property. No repayments during the client s lifetime unless chosen so. No negative equity guarantee. Plans can move to another property with the owner. Common Uses: Helping family out with large debt levels. Funding a full & final settlement of debt. Escaping debt management plans. Holidays and cruises. Paying for weddings of family members. Drawing a regular income in retirement. Paying for children/grandchildren s tuition fees. Funding deposits for first-time-buyer family members. Home improvements. Clearing mortgages to free up income. Clearing credit card debts to save interest charges. Purchasing long term care plans/insurances. Buying a second home or a buy to let. Keeping business afloat with working capital. Points to Consider: Reduces the value of an estate. Can affect entitlement to means-tested state benefits. Equity release must be the only loan secured on the property, many use released equity to repay an existing mortgage.

5 Why Refer? Whether you are qualified in or not, being a member of our Partnership Programme ensures that you and your clients can enjoy the benefits of this growing market. ER Qualified Refer overflow clients Save time on CPD and ER research Extensive knowledge of available plans No indemnity risk to you Offer a wider range of products to your clients Face-to-face advice for your clients Preferential interest rates for your clients Enhanced commission to you Earn similar amounts for less work Engaging literature for business and clients Start-to-finish service Simple referral process Client case updates to you Dedicated Partnership Executive on-hand Updates on market insights Engaging literature for business and clients Not ER Qualified Learn more about test the water No need to be qualified Attend visits

6 Why Responsible? We guarantee no cross selling. You can spend more time advising on your expert subjects whilst still making the most of opportunities. Access to our marketing materials with the high impact Responsible branding. Our sophisticated IT system keeps you updated with the progress of any case as it happens and provides reports so you can analyse the success of your introductions. Your client s initial contact will be with a trained member of our team. We have access to great rates from specialist equity release solicitors - saving your client money. Your client will have the safety net of advice signed off by two advisers. Your client will have the choice of face-to-face or telephone advice. Your client s enquiry will be dealt will promptly and courteously. Over 100 years of experience in the advice market. We will offer your client independent, unbiased advice that takes into account all of the products on the market.

7 The advice process Our experience in this market has taught us that important, detailed information is best conveyed in a comfortable and relaxed environment. As such, we favour face-to-face advice and often, two home visits are necessary to ascertain and reaffirm the clients goals. Should the client prefer a telephone consultation, our advisers also have the experience to do so. To eliminate pressure to proceed, clients receive a no-obligation initial consultation, with no fee charged unless the clients case completes. Most clients apply for a plan within 2-3 weeks of enquiring and then it can take 4-6 weeks to complete. Others may wait until certain milestones such as retirements or birthdays. This is a Lifetime Mortgage, it will reduce the value of an estate and can affect entitlement to means-tested state benefits. To understand the features and risks, ask for a Personalised Illustration. Only if your client chooses to proceed and the case completes will Responsible Life Limited charge an advice fee, currently 1,295. Our adviser will talk through the setting up costs of a Lifetime Mortgage before any decision is made to proceed.

8 How can you be active? Existing Clients New Clients 1. Client reviews will identify if circumstances have changed in a way that brings equity release into pay. 2. Newsletters sent to older clients covering topics such as income in retirement should get your phone ringing. 3. Seminars help to strengthen and reinforce client relationships while building selling opportunities. 4. ing clients is a good way to keep in contact with them and give you an opportunity to tailor messages around generating more income in retirement. 5. Referrals are a great way to build equity release opportunities - especially if your clients have parents who need financial advice. 1. Advertising e.g in local press, club magazines (e.g bowling) and charity publications (Age Concern). 2. Editorials e.g write an article or column for you local paper or for an affinity group magazine. 3. Seminars offer the perfect opportunity to talk to people who have expressed an interest in. 4. Referrals from your existing clients will probably be the best quality leads. 5. Direct mail campaign e.g from a bought list. 6. Professional connections e.g solicitors - offer and you will stand out from the crowd Non authorised IFAs who may have clients who need advice. Networking offers opportunities provided you have the right mindset! Online Networking join an e-forum or one of the many growing numbers of Social Networks to discover new clients and professional introducer s. Blogging the new way for your expertise to be read by prospects, clients and journalists. Pod casting create short audio messages to communicate with your target audience. Webinar the online version of a seminar. Promote your webinar in all your electronic and proper communications with clients. 7. Other Introducer s e.g estate agents.

9 What Can We Do For You? We have built our Partnership Programme to help you become more active in. Since 2012, the market has grown by 49% and we expect this to continue. Household names such as Age UK, Daily Telegraph, Good Housekeeping, Reader s Digest, the RAF, Daily Mail, Moneysupermarket, Saga and countless others are now actively promoting. We have seen plans arranged from 10,000 to 6,000,000 and there is no such thing as a typical customer. As such, we believe your clients will be asking you more and more questions about. Our Partnership Programme is designed to give you the tools and documents to answer their questions and provide them with a route to access the plans available without you losing control of the client. We have assigned to you a dedicated Partnership Development Manager who is trained in helping you to: Identify ER Clients Engage their interest Present high-level information across multiple contact points Refer interested clients for a high quality advice service To complement this personal touch, we have created an Engagement Pack that includes: Newsletters Thematic content Presentations Posters An unbranded guide Business facing literature to engage colleagues with The contents of the Engagement Pack are all compliant, approved, and ready for use.

10 The advice service is provided by Responsible Equity Release. Responsible Equity Release is a trading style of Responsible Life Limited, which is authorised and regulated by the Financial Conduct Authority. The Financial Services Register number is RERPG1115