Referred equity release business soars Key Retirement Solutions reveals
Key Retirement Solutions (KRS), the UK’s leading specialist IFA for the equity release market, reveals that independent financial advisers are realising how much additional income can be generated by referring equity release business to specialist firms rather than transact it themselves. KRS’s online equity release referral service – Key Partnerships – has seen an increase of 28% in the number of firms registered since October 2004. This takes the total number of registered firms to over 150.
Dean Mirfin, Business Development Director at Key Retirement Solutions, comments:
“Providing customers with advice on equity release can be difficult for an IFA or broker who doesn’t deal in this market regularly – the products are complex, the advice process lengthy and the subject matter generally quite emotive. When you add to this concerns about regulation and FSA mystery shopping, you can see why many advisers are now opting to refer business to specialist services like Key Partnerships. By using such a service, the IFA can retain their clients’ loyalty and be sure that their clients are receiving quality advice from a specialist who is able to guide them through the complicated process of taking out a suitable equity release plan.”
Overview of Key Partnership’s Service:
Extensive market research was undertaken prior to the launch of this service in October 2004 and it boasts a number of features tailored specifically to the IFA market:
- Secure online referral facility
- A ‘no cross selling’ guarantee
- Email updates at key stages in the advice process from dedicated customer services specialists
- All advice given is covered by Key’s Professional Indemnity insurance
- Payment of a fee for all completed cases
The referral and registration process are due to be made even easier this month as an updated and improved website is due to be launched.
Dean Mirfin comments: “Key Partnerships was designed to provide IFAs/brokers and their clients with the best possible service available. We understand how much advisers value the relationships they have with their clients and have included features such as email updates to allow them to view the progress of an individual case. In addition, we know that IFAs can feel uncomfortable about providing their clients details to other organisations so we offer a ‘no cross selling’ guarantee as part of this service.”
IFA Endorsements
Mark Pender of Mortgage Mentor Limited. “As soon as I sent the relevant details I was given a very clear process with timescales, the updates were regular. The process was very slick. I was very impressed and payment was bang on time”.
Damien Paterson of Paterson Financial Planning Limited (Scotland), “I was delighted with the service. It was speedy. Key Partnerships was prepared to contact the client directly after we informed them that they would call and the information that was provided was readily understandable. Feedback to us from the clients was very positive. Feedback and updates from Key Partnerships was also excellent, and regular, keeping me constantly up to date. I have been very pleased with the service”
