The manifesto outlines how the company will support advisers with their later life lending cases through technology, product breadth and adviser focussed support.
In an AKG report funded by more2life, it shows that 67% of advisers surveyed believe being able to offer a wider range of services to clients is the key advantage of advising on equity release.
Meanwhile, the data shows that 42% said an additional revenue steam from providing equity release advice is a primary benefit.
Additionally, 46% of advisers outlined that equity release allows them to help customers that they would not ordinarily have been able to support.
Looking at future engagement within the equity release sector over the next 12 months, 47% said they already offered an equity release advice solution in-house and just under one-fifth already deliver advice solutions via a referral service.
More than half (55%) of advisers who currently offer equity release predict that this area of their business to grow over the next three years.
Dave Harris, chief executive officer at more2life, said: “As the needs of retirees evolve and become even more complex, it is paramount that advisers are ready and able to cater for this growing demographic.
“However, we appreciate that the later life lending sector may seem like a step into the unknown for many advisers.
“It is for this reason that we’ve decided to launch our new manifesto which outlines how we plan to enhance our processes to help more advisers produce better retirement outcomes for their clients.”
Matt Ward, communications director at AKG, added: “The purpose of the paper is to provide practical and educational output which encourages further discussion and debate about the evolving role of equity release in the UK retirement and later life markets.
“The research reveals positive signs and shows us that advisers see the ability to offer a wider range of services to clients, being able to help clients with issues they could not help with previously and the provision of an additional revenue stream for the adviser business as key primary benefits of offering equity release.
“A steady growth picture is predicted for equity release business, but the twin hurdles of historical perception of equity release and compliance concerns remain a deterrent to engagement for some advisers.
“All parties need to continue how best to consider and address potential issues around client vulnerability and duress.”
