Personal Pension  

L&G signs tied distribution deal with adviser

L&G signs tied distribution deal with adviser

Legal and General Home Finance has agreed a tied distribution deal with equity release adviser Key Retirement as part of a wider push into the market.

The appointment of Key as sole equity release adviser for L&G is the latest development in the expansion of the insurer’s lifetime mortgage proposition, which has set a target of lending up to £200m this year.

It follows the acquisition of Newlife in April, launch of its own brand products in June and hire of Andy Humphreys to the role of marketing director for individual retirement in August.

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Advice will be provided by a dedicated team under the brand The Retirement Lending Advisers with L&G customers offered face-to-face advice on the full range of solutions.

Bernie Hickman, managing director for individual retirement at L&G, said that advice is crucial to the growth of the equity release market and customers need specialist expert support when exploring their options.

Colin Taylor, chief executive at Key Retirement, added that L&G’s decision to launch into the equity release market has been a major boost to the sector.

“The strength of their brand and reputation coupled with their extensive customer base and competitive range of products will help drive awareness of the benefits of equity release to a wide range of people.”

peter.walker@ft.com