Almost one in five, or 19%, of equity release advisers at Key Equity Release are now women, the lender has revealed this International Women’s Day.

Since the pandemic began, the number of female advisers at the firm has increased by 8%, while more than half, or 53%, of adviser support roles are now filled by women.

A quarter of its advice delivery service are also now female.

“Over the past two years we have seen a different and challenging landscape but the later life lending market has continued to grow and it is great to see that one in four are women within our advice delivery team,” says Key chief executive Will Hale.

“However, more needs to be done.”

According to Key, the growing number of female advisers highlights a gradual departure away from the “stereotypical” image of an equity release adviser.

The company plans to continue to recruit from a wider range of candidates and upskill existing colleagues through its adviser academy.

Equity Release Council chief operating officer, Donna Francis, adds: “As the demand for equity release continues to grow, it is vital that this expansion brings opportunities to more women who believe in the sector’s potential.