The difficulty with life is the choice

21 June 2018

“THE DIFFICULTY WITH LIFE IS THE CHOICE” George Augustus Moore

Or in the case of good, professional advice on Equity Release, it is the severe lack of choice of experienced advice in the market.

According to a recent study by Pure Retirement’s Head of Distribution, Chris Flowers, he told an audience at a Money Marketing Conference in December 2017 that an estimated 9000 advisers in the UK hold the Equity Release qualification but only between 500 and 1000 (5-10%) are advising clients regularly and can claim to be professional advisers.  So why is this?

In order to be a truly independent adviser and advising you comprehensively, an adviser should be able to discuss Equity Release as an integral part of financial and retirement planning. As the family home being most likely the largest asset, to exclude it in the discussion is folly, erroneous and not truly independent at all, yet it is happening! 

Many ‘General Practice’ advisers are shying away from advising clients due to a lack of knowledge and understanding of the market.  Without spending time studying the market, they can’t become knowledgeable, and they simply won’t dedicate the time. This includes those who hold the qualification but lack the understanding of the process mechanics, they have very little experience in this specialist and high-risk area of advice.  It is akin to learning to drive a car – you may pass your test but without time and experience behind the wheel & being put in different situations on the road you are likely to remain a very poor driver, even if you can give a very good talk on how driving a car works!

So where does that leave you looking for professional advice on whether or not Equity Release is right for you and your loved ones?  You see ads on TV, you get bombarded with junk mail through the post to ring call centres, you search the internet and get more “call us, call him, call them” and again get passed as a ‘lead’ through to a call centre.  The outcome? You don’t know who to speak to and you resort to that familiar company’s ad on the TV only to find they too are a call centre who will send some poor chap out to see you for an entire afternoon, and if you don’t proceed you’ll find it hard to get hold of him again, as he’s too busy with his full diary! 

How do I know this? I’ve been a specialist Equity Release adviser since 2004 when I started my journey with a brief period at ‘that company on the TV’, had my diary flooded with appointments and decided very quickly indeed that this was no way to deal with people making a major financial decision; it wasn’t about ‘sales, volume and targets’ it was about ‘professional advice’.  Since then, I got on the road and dedicated the time to understand the mechanics, what clients really needed and kept abreast of market changes of which there have been numerous over the years.

I don’t advertise. Never have. I work with other financial professionals who WANT to be truly independent and if they don’t understand how it works, entrust their clients to me. I’m an ADVISER and not in the business of sales, if it’s not right for you I’ll tell you the reason why.

Therefore, I will most definitely give you choice.  A professional, informed, knowledgeable choice. Like anything in life, there’s the Ford Escort version or the Rolls Royce version, the choice is yours, but when dealing with what is likely to be the last major financial decision in your life and regarding your home, I’m sure you’d like to be in the passenger seat of the Rolls Royce!

0203 745 5893

info@peritus-group.co.uk

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. As this is a lifetime mortgage, to understand the features and risks, ask for a personalised illustration. There will be a fee of £495 payable upon application for our Lifetime Mortgage Service. We will also receive commission from the lifetime mortgage lender.