Why IFAs are vital for equity release

Independent financial advice has been vital in ensuring customers are protected in the equity release market. If equity release is to achieve its huge potential as a source of retirement income for customers, then the role of IFAs will remain crucial. The central role of ­independent advice is why the FSA’s ­latest ­consultation on the ­Mortgage ­Market Review (MMR) is ­potentially worrying for the equity release market by not insisting that all sales should be advised. It is worth delving back into ­history to understand why. Over the years, many people have ­commented on the perceiv...