LV= is launching a three-step training programme for IFAs who are considering advising on equity release.
The free sessions will run over a three month period beginning in March, with each stage progressing advisers towards working in the equity release market.
Step one involves face-to-face sessions designed to give advisers an insight into equity release products and client suitability. It will address the challenges advisers face and issues such as compliance, the sales cycle and the need to involve a client's family in the advice process.
The second stage will guide advisers through the ER1 qualification, offering technical support and five revision webinars.
The final session will focus on marketing and business development together with sourcing systems, the role solicitors play within the industry, and pitfalls to avoid when marketing equity release services.
Steve Lewis, LV= head of retirement distribution, said: "Clients now have much more choice about how to structure their income in retirement and we have seen the demand for equity release rise considerably over the last year. In fact, the equity release market has grown by 17% in just the last 12 months.
"Demand looks set to continue especially as clients, who find their pension pot will not fund the retirement lifestyle they had planned, are becoming more aware of the benefit of equity release.
"Our development programme has been designed to support advisers who want to add equity release to the retirement solutions they advise on, as well as helping them to demonstrate the importance of advice when people are approaching retirement."
Steps already taken
Increasingly diverse sector
First of planned acquisitions
Feedback from first year
The chairman looks to bridge the pensions gap