"That is why it’s so important the sector does all it can to ensure advisers have access to the information and support they are asking for. Education and innovation will be crucial to the future of equity release."
Kay Ingram, director of public policy at LEBC, agreed there was more demand for advice on equity release and stressed financial planners needed to be aware of its use as a retirement planning tool.
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She said: "All advice needs to be placed in the context of a holistic review of all options including equity release but not exclusively limited to equity release if consumers are to be given suitable advice."
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