Equity release looks to be a core focus for financial advisers in 2020, with rising demand for products from clients considering later-life planning, according to Canada Life.
However, many advisers do not have the requisite qualifications to advise on equity release products, so Canada Life Home Finance has created a series of workshops in 2020 for advisers who are looking to become equity-release qualified.
Its Equity Release Exam workshops will run nationwide in February and March. The workshops, which are free of charge, were attended by over 200 advisers in 2019 and, according to Alice Watson, head of marketing, insurance, for Canada Life, the workshops are designed to help even more advisers tap into the growing demand for equity release products.
Ms Watson said: "As people continue to look for ways to improve their retirement income, we have a key role to play in ensuring there are qualified advisers to meet growing client demand.
"Through providing the workshops, we hope that more people will be able to access the independent advice needed to take out products that meet their needs and circumstances."
The workshops will be provided in collaboration with training and consulting firm Fortica, and will give advisers currently not qualified to offer equity release the training needed to pass the required exam.
In addition, this year’s workshops and course materials have been updated to ensure they reflect the improvements made to aspects of the London Institute of Banking and Finance's syllabus at the end of 2019.
These improvements included changes to the text around powers of attorney and complaint handling and increasing the number of topics from three to six.
According to research carried out by the insurer last November, 71 per cent of equity release-qualified advisers said they expect market growth over the next year, with over half (51 per cent) of advisers predicting that, by the end of 2020, the market will be valued between £5-6bn.
At the end of quarter three 2019, £2.8bn of funding had been provided to homeowners aged 55 and over, using equity release.
Advisers can book their place at the workshops with Canada Life at www.canadalife.co.uk/adviser/cl-events
If you have any free events for advisers, or comments on equity release, email email@example.com