CompaniesMar 12 2015

Bower acquires equity release adviser

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Bower acquires equity release adviser

Bower Retirement Services has acquired Sixty Plus, an independent financial adviser firm which specialises exclusively in equity release, and fully integrated the firm into its business.

The team of advisers from the firm and the former managing director of Sixty Plus, David Wright, will be joining Bower. This will bring the total number of advisers working for Bower up by 40 per cent over the past year.

Mr Wright has more than 20 years worth of experience in the financial sector. He set up Sixty Plus in 2006, and has worked on the frontline as an adviser over the last ten years.

Geoff Charles, chief executive officer of Bower said: “The addition of Sixty Plus and David Wright to the Bower team will help to fortify us further, allowing us to reach out and help more customers than ever before.

“Bower is in the middle of a period of sustained growth, and this deal will add another layer of expertise – and added capacity – to our business. The amalgamation with Sixty Plus will allow us to forge forwards with expanding our offering to meet the growing needs of our customers.”

Equity release specialist David Wright said: “Bower has established an enviable reputation among consumers and advisers alike. The ethos of the company – to advise and not simply sell – creates a nurturing, ethical atmosphere in which to operate, one that fits well with the values Sixty Plus stood for.

“Together, our combined manpower will make a tangible impact on the lives of many more over-55s. Equity release is booming and we are going to make sure that as our business grows, the quality of advice we provide stays second to none.”

ruth.gillbe@ft.com