It noted that this decision stems from it intending to support its growing community of later life advisers.

The adviser support firm, which provides technology and compliance oversight service to its members, is now also helping advisers through subsidising their marketing costs to fast-track further growth.

Dan Baines, managing director of Equity Release Associates, said: “By helping our associate advisers to provide their advice in a more safe and efficient manner, we’re providing a great foundation on which they can build their businesses.

“However we know that customer acquisition is a key challenge for many advisors, so this new investment in marketing should really help our team to achieve their growth ambitions.”

“In addition to this, we’re also now working with a number of new introducer partners, for whom the combination of our gold-standard advice principles and a highly personalised customer experience is proving to be a big success.”