Bower Retirement Services has acquired and amalgamated Sixty Plus, an independent financial adviser firm specialising exclusively in equity release, into its operation.

The Sixty Plus team, including advisers and David Wright, formerly managing director of Sixty Plus, will be joining Bower. Wright set up Sixty Plus in 2006.

The acquisition means the total number of advisers working for Bower Retirement Services has increased by 40% in the past year.

Geoff Charles, CEO of Bower Retirement Services, said: “The addition of Sixty Plus and David Wright to the Bower team will help to fortify us further, allowing us to reach out and help more customers than ever before. Bower is in the middle of a period of sustained growth, and this deal will add another layer of expertise – and added capacity – to our business.

“The amalgamation with Sixty Plus will allow us to forge forwards with expanding our offering to meet the growing needs of our customers.”

Wright added: “Bower has established an enviable reputation among consumers and advisers alike. The ethos of the company – to advise and not simply sell – creates a nurturing, ethical atmosphere in which to operate, one that fits well with the values Sixty Plus stood for.

“Together, our combined manpower will make a tangible impact on the lives of many more over-55s. Equity release is booming and we are going to make sure that as our business grows, the quality of advice we provide stays second to none.”