Equity Advice LLP has launched The Later Life Academy dedicated to supporting advisers in the at-retirement market.
The Academy, which starts taking membership applications from 1st February, will offer members training on areas such as annuities, investment, will writing and equity release.
It will also offer support on developing advisory businesses and able to offer enhanced commission and transaction fees via supporting providers.
The Academy will also work with providers known as Academy Ambassadors to develop and deliver training. They will then be able to develop strong ongoing relationships with these advisers.
Skandia has been confirmed as the first Academy Ambassador with more to be announced over the coming weeks.
Equity Advice managing partner Stuart Wilson said the idea came from the success of the firm's Equity Release Club initiative which currently has 3,500 members. His aim is for the Later Life Academy to become "the go-to group" in the at-retirement market.
"Organisations like the Society of Later Life Advisers cater to the top end of the market while the FCA exam is at the bottom end - we want the Later Life Academy to span the gap in the middle," he said. "There are areas where broker knowledge falls short and we are seeing less retirees getting decent advice. In addition we are seeing many brokers struggling to build businesses because they have been used to selling commoditised products like mortgages. Long term care and equity release are not commoditised products. We are looking to raise standards among those operating in the at-retirement market."
He continued: "We as a sector have lost the ability to communicate with our customers because we have been too busy doing what the regulator wants us to do. We need to engage with people in a way they can understand."
For more details contact [email protected]
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