Bower Retirement Services has revealed that its acquisition of Sixty Plus, an independent financial adviser firm specialising exclusively in equity release, will no longer take place.

David Wright, managing director of Sixty Plus, has decided to remain an adviser under his own company brand.

The decision is effective immediately, and Sixty Plus and Bower Retirement Services will continue to operate as separate entities.

In a statement, Bower Retirement Services, said: “David’s decision resulted from his own personal reasons, and has no reflection on Bower or the directors whatsoever. Bower wishes David the best of luck for the future with Sixty Plus, at a time when quality equity release advice is becoming ever more important.”