Eight out of 10 financial advisers in the equity release sector are looking to grow their business over the next 12 months, according to new research from Pure Retirement, conducted in partnership with Smart Money People.
The study, which surveyed over 160 advisers, signals a strong appetite for investment in marketing, partnerships, and technology to drive business expansion.
PRIORITIES
The research found that:
- 66% of advisers plan to invest in marketing to attract new clients.
- 38% are looking to build better partnerships to expand their reach.
- 26% aim to invest in technology to improve efficiency and client service.
CHALLENGES IN THE SECTOR
Despite their ambitions for growth, advisers also highlighted key pain points in the equity release market:
- 40% cited high costs as a major challenge.
- 34% pointed to a lack of client understanding as a barrier.
- 30% expressed concerns over regulatory challenges.
THE ROLE OF LENDERS
The findings also underscored the importance of lender support, with 54% of advisers stating that dedicated support representatives from lenders are beneficial for business growth. Additionally, 48% highlighted the need for marketing resources from lenders to help them expand their client base.
Scott Burman, head of distribution at Pure Retirement, emphasised the value of lender-adviser partnerships in driving sector growth: “It’s great to see advisers not only continue to show faith in the sector, but actively look to invest in their business.
“Additionally, with 54% of brokers expressing that to grow their business it helps to have dedicated support representatives from lenders, and 48% saying marketing resources from lenders is much needed, it underlines the important role that lenders can have in supporting their adviser network in growing their business within the later life lending space.
“These statistics validate our long-term commitment to offering market-leading assistance to our registered advisers, and we look forward to continuing to do so throughout 2025 and beyond.”
