The Equity Release Club (ERC) is launching a range of support and training services for advisers, networks and distributors who are interested in adding equity release to their range of services.
ERC already operates a ‘mortgage club-style’ service, with over 400 members, and plans to expand its offering for current and prospective members.
ERC will launch ERC Assist and ERC Academy Assist later this year to give adviser firms and sole traders the opportunity to operate in the equity release sector.
ERC Assist will provide an ongoing support and development package for adviser seeking to expand their business opportunities.
Stuart Wilson, managing partner of ERC, comments: “In these tough times advisers and firms are increasingly looking to diversify their offerings and as a result we are seeing a significant upturn in interest from brokers wanting to enter the equity release market but without a sufficient knowledge of how, the costs involved and the training necessary.”
The service offers a one-day training course covering a number of issues such as compliance, quality advice, factfinding and suitability.
Advisers who join the scheme will also gain access to sourcing software, compliance bulletins, broker support lines and a placement desk. Online training opportunities and business audit services are also available for an additional cost.
ERC Assist will cost £69.99 per month with a three-month contract, meaning firms are not locked in to a long-term obligation.
In addition to ERC Assist, ERC Academy Assist is also being launched for larger firms with 15 advisers or more who want to quickly train up their sales force.
The academy offers discounts of up to 50% for all the same features of ERC Assist, as well as dedicated individual training events, branded newsletters and BDM support. Academy Assist members will also benefit from quarterly live forum events to discuss industry issues and share ideas.
The new services are all backed up by a new online training portal, www.equityreleasetraining.co.uk, which offers a variety of study materials and mock exams for advisers hoping to increase their qualifications.
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