Pensions  

Responsible Life in Reader’s Digest tie-up

Steve Wilkie, managing director of Responsible Life, said the affiliation will give the firm a high profile “platform” to provide “robust” advice on equity release to the lifestyle magazine’s readers.

“We want to ensure that this option [equity release] is openly explained and explored, alongside all other retirement funding options,” he added.

“Customers are increasingly capitalising on flexible equity release, using equity from their home to fund their retirement, which would otherwise look bleak in a storm of low interest rates and poor annuities.

Article continues after advert

The magazine could ann-ounce further marketing partnerships connected to the financial sector, as new chairman Mike Luckwell seeks to restore its profitability.

Mr Luckwell bought Reader’s Digest for £1 in February from private equity firm Better Capital. He said: “This is the first of a series of planned marketing partnerships and changes to update and upgrade Reader’s Digest. It will further enhance results following its first profitable trading quarter for years.”

ADVISER VIEW

John Miller, founder of Lothian-based Niven Financial, has previously criticised promotions run by Key Retirement Solutions, which encouraged consumers to use equity release to fund Christmas presents for grandchildren. In response, Dean Mirfin, director of KRS, said that all options needed to be presented so those in “debt” can consider whether to use equity release in the absence of savings or high-cost borrowing.