The latest research from equity release provider Retirement Plus has revealed that 42% of IFA clients considering equity release worry about the impact it will have on the inheritance they leave behind.
Duncan Young, chief executive of Retirement Plus, explains that while consumers were being pulled towards equity release by drivers such as smaller pension pots and higher living costs, inheritance concerns and instability within the housing market were putting them off.
He continues: "We are also concerned that 13% of IFA customers do not understand equity release products.
"There appears to be still much to be done by providers to educate the IFAs and their customers about the various products available and how they might fit with other retirement planning tools. We all have to ensure that products are presented in a simple and unbiased way."IFAonline
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